Ranger Investment Management L.P. Takes Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Ranger Investment Management L.P. purchased a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 166,715 shares of the medical instruments supplier's stock, valued at approximately $16,125,000. Ranger Investment Management L.P. owned 0.29% of Merit Medical Systems at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. NewSquare Capital LLC acquired a new position in shares of Merit Medical Systems during the 4th quarter worth $32,000. Kohmann Bosshard Financial Services LLC purchased a new position in Merit Medical Systems in the fourth quarter valued at about $52,000. Federated Hermes Inc. lifted its position in shares of Merit Medical Systems by 139.1% during the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock valued at $63,000 after acquiring an additional 381 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Merit Medical Systems by 237.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier's stock worth $134,000 after acquiring an additional 977 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Merit Medical Systems by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier's stock worth $144,000 after buying an additional 191 shares during the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Merit Medical Systems Trading Down 0.0 %

Merit Medical Systems stock traded down $0.01 during midday trading on Monday, reaching $92.03. The stock had a trading volume of 99,657 shares, compared to its average volume of 480,005. The firm's fifty day simple moving average is $101.92 and its two-hundred day simple moving average is $100.88. 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, Inc. has a twelve month low of $70.70 and a twelve month high of $111.45. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 45.11, a PEG ratio of 2.34 and a beta of 0.85.

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Insider Transactions at Merit Medical Systems

In other news, 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 transaction, the insider now owns 38,993 shares in the company, valued at $3,879,803.50. This represents a 39.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Raul Jr. Parra sold 12,451 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the transaction, the chief financial officer now directly owns 24,201 shares in the company, valued at $2,391,300.81. The trade was a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,132 shares of company stock valued at $11,139,521 over the last quarter. Company insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MMSI shares. Piper Sandler restated 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. Wells Fargo & Company cut their price objective on Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Barrington Research reaffirmed an "outperform" rating and set a $111.00 price target on shares of Merit Medical Systems in a report on Friday. JPMorgan Chase & Co. started coverage on shares of Merit Medical Systems in a report on Friday, March 28th. They issued an "overweight" rating and a $120.00 price target on the stock. Finally, 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. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $114.33.

Merit Medical Systems 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.