Oberweis Asset Management Inc. Grows Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Oberweis Asset Management Inc. grew its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 208,760 shares of the medical instruments supplier's stock after acquiring an additional 6,620 shares during the quarter. Merit Medical Systems comprises 1.0% of Oberweis Asset Management Inc.'s investment portfolio, making the stock its 27th biggest holding. Oberweis Asset Management Inc. owned about 0.36% of Merit Medical Systems worth $20,191,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Merit Medical Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,648,659 shares of the medical instruments supplier's stock valued at $643,058,000 after acquiring an additional 63,314 shares during the period. FMR LLC boosted its stake in shares of Merit Medical Systems by 31.6% during the fourth quarter. FMR LLC now owns 2,076,439 shares of the medical instruments supplier's stock worth $200,833,000 after buying an additional 499,193 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in Merit Medical Systems by 2.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,633,246 shares of the medical instruments supplier's stock valued at $157,968,000 after acquiring an additional 36,489 shares during the period. Invesco Ltd. lifted its position in Merit Medical Systems by 8.3% during the 4th quarter. Invesco Ltd. now owns 1,535,468 shares of the medical instruments supplier's stock worth $148,510,000 after acquiring an additional 118,142 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Merit Medical Systems by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 748,561 shares of the medical instruments supplier's stock valued at $72,401,000 after purchasing an additional 21,221 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company's stock.

Insider Buying and Selling

In other Merit Medical Systems news, insider Brian G. Lloyd sold 25,000 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $99.50, for a total value of $2,487,500.00. Following the completion of the transaction, the insider now directly owns 38,993 shares in the company, valued at approximately $3,879,803.50. The trade was a 39.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Fred P. Lampropoulos sold 31,320 shares of Merit Medical Systems stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total value of $3,252,895.20. Following the completion of the sale, the chief executive officer now directly owns 1,086,028 shares of the company's stock, valued at approximately $112,794,868.08. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,132 shares of company stock worth $11,139,521 in the last ninety days. Insiders own 3.70% of the company's stock.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI traded down $0.06 on Friday, hitting $94.61. The company's stock had a trading volume of 1,278,090 shares, compared to its average volume of 497,926. The stock has a 50 day moving average of $98.60 and a 200-day moving average of $100.55. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 46.38, a price-to-earnings-growth ratio of 2.34 and a beta of 0.85. Merit Medical Systems, Inc. has a 12-month low of $73.67 and a 12-month high of $111.45. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

Analyst Ratings Changes

MMSI has been the topic of a number of analyst reports. Needham & Company LLC lowered their price objective on shares of Merit Medical Systems from $116.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday. Raymond James cut their price target on shares of Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating for the company in a report on Friday. Barrington Research cut their target price on Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating for the company in a research note on Friday. JPMorgan Chase & Co. began coverage on Merit Medical Systems in a report on Friday, March 28th. They set an "overweight" rating and a $120.00 price objective on the stock. Finally, Piper Sandler lowered their price target on shares of Merit Medical Systems from $116.00 to $112.00 and set an "overweight" rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $109.00.

About Merit Medical Systems

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.