Quantbot Technologies LP Decreases Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Quantbot Technologies LP trimmed its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 68.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,765 shares of the medical instruments supplier's stock after selling 17,206 shares during the period. Quantbot Technologies LP's holdings in Merit Medical Systems were worth $751,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of MMSI. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Merit Medical Systems by 216.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,064 shares of the medical instruments supplier's stock worth $995,000 after purchasing an additional 6,887 shares in the last quarter. Intech Investment Management LLC raised its stake in Merit Medical Systems by 67.6% in the third quarter. Intech Investment Management LLC now owns 14,024 shares of the medical instruments supplier's stock valued at $1,386,000 after buying an additional 5,654 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Merit Medical Systems by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 727,340 shares of the medical instruments supplier's stock worth $71,883,000 after acquiring an additional 54,122 shares in the last quarter. Citigroup Inc. boosted its holdings in Merit Medical Systems by 71.0% in the third quarter. Citigroup Inc. now owns 74,656 shares of the medical instruments supplier's stock worth $7,378,000 after acquiring an additional 30,988 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Merit Medical Systems by 3.2% during the third quarter. Fisher Asset Management LLC now owns 221,690 shares of the medical instruments supplier's stock worth $21,910,000 after acquiring an additional 6,837 shares during the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Merit Medical Systems

In other news, Director Stephen C. Evans sold 5,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the sale, the director now directly owns 4,657 shares in the company, valued at $490,428.67. This trade represents a 51.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian G. Lloyd sold 25,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $3,879,803.50. The trade was a 39.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,132 shares of company stock worth $11,139,521 in the last three months. Company insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MMSI shares. Piper Sandler reissued an "overweight" rating and set a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Raymond James boosted their price objective on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Tuesday, December 31st. Wells Fargo & Company lowered their price target on Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Canaccord Genuity Group cut their price objective on Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. began coverage on Merit Medical Systems in a report on Friday. They set an "overweight" rating and a $120.00 target price for the company. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $111.70.

Merit Medical Systems Stock Performance

MMSI stock traded up $0.67 during trading on Friday, hitting $103.94. 569,855 shares of the company traded hands, compared to its average volume of 450,221. Merit Medical Systems, Inc. has a 1 year low of $70.70 and a 1 year high of $111.45. The company has a market cap of $6.12 billion, a PE ratio of 50.95, a P/E/G ratio of 2.34 and a beta of 0.91. The stock's 50-day simple moving average is $104.30 and its 200 day simple moving average is $101.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

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.