New Age Alpha Advisors LLC Invests $414,000 in Merit Medical Systems, Inc. (NASDAQ:MMSI)

New Age Alpha Advisors LLC purchased a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,281 shares of the medical instruments supplier's stock, valued at approximately $414,000.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC increased its position in Merit Medical Systems by 305.4% during the third quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier's stock valued at $11,142,000 after acquiring an additional 84,923 shares during the last quarter. EULAV Asset Management raised its position in Merit Medical Systems by 400.0% in the 4th quarter. EULAV Asset Management now owns 115,000 shares of the medical instruments supplier's stock worth $11,123,000 after purchasing an additional 92,000 shares during the period. JPMorgan Chase & Co. raised its position in Merit Medical Systems by 85.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier's stock worth $56,921,000 after purchasing an additional 265,648 shares during the period. AMI Asset Management Corp lifted its stake in Merit Medical Systems by 28.7% in the fourth quarter. AMI Asset Management Corp now owns 33,041 shares of the medical instruments supplier's stock worth $3,196,000 after purchasing an additional 7,367 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. purchased a new position in shares of Merit Medical Systems during the fourth quarter valued at approximately $800,000. 99.66% of the stock is currently owned by institutional investors.

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Merit Medical Systems Stock Down 11.0 %

Merit Medical Systems stock traded down $11.46 during mid-day trading on Friday, reaching $92.50. 2,000,794 shares of the company were exchanged, compared to its average volume of 462,604. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The firm has a market cap of $5.44 billion, a P/E ratio of 45.34, a PEG ratio of 2.34 and a beta of 0.91. The business has a fifty day moving average of $104.19 and a 200 day moving average of $101.24. Merit Medical Systems, Inc. has a 12-month low of $70.70 and a 12-month high of $111.45.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company decreased their price target on Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Piper Sandler reissued an "overweight" rating and set a $116.00 target price (up from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. JPMorgan Chase & Co. assumed coverage on shares of Merit Medical Systems in a research note on Friday, March 28th. They issued an "overweight" rating and a $120.00 price target on the stock. Canaccord Genuity Group lowered their price objective on shares of Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Finally, Raymond James raised their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 31st. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Merit Medical Systems has an average rating of "Moderate Buy" and an average target price of $111.70.

Insider Buying and Selling

In related news, CEO Fred P. Lampropoulos sold 31,320 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total transaction of $3,252,895.20. Following the completion of the transaction, the chief executive officer now owns 1,086,028 shares in the company, valued at $112,794,868.08. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen C. Evans sold 5,000 shares of Merit Medical Systems stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the completion of the transaction, the director now directly owns 4,657 shares in the company, valued at $490,428.67. This represents a 51.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,132 shares of company stock worth $11,139,521 in the last three months. 3.70% of the stock is owned by insiders.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.