Renaissance Group LLC Increases Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Renaissance Group LLC raised its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 11.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,987 shares of the medical instruments supplier's stock after purchasing an additional 4,172 shares during the quarter. Renaissance Group LLC owned 0.07% of Merit Medical Systems worth $4,061,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MMSI. Captrust Financial Advisors boosted its position in shares of Merit Medical Systems by 2.6% during the 3rd quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier's stock worth $735,000 after purchasing an additional 187 shares in the last quarter. HighTower Advisors LLC grew its position in Merit Medical Systems by 58.5% during the third quarter. HighTower Advisors LLC now owns 55,443 shares of the medical instruments supplier's stock worth $5,478,000 after buying an additional 20,454 shares during the period. Stifel Financial Corp grew its position in Merit Medical Systems by 20.7% during the third quarter. Stifel Financial Corp now owns 28,050 shares of the medical instruments supplier's stock worth $2,772,000 after buying an additional 4,806 shares during the period. State Street Corp lifted its position in shares of Merit Medical Systems by 0.7% during the 3rd quarter. State Street Corp now owns 2,231,701 shares of the medical instruments supplier's stock valued at $220,559,000 after acquiring an additional 15,098 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Merit Medical Systems during the 3rd quarter valued at approximately $465,000. Institutional investors and hedge funds own 99.66% of the company's stock.

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Merit Medical Systems Trading Up 0.2 %

NASDAQ:MMSI traded up $0.15 during mid-day trading on Monday, reaching $92.19. The company's stock had a trading volume of 87,041 shares, compared to its average volume of 479,962. Merit Medical Systems, Inc. has a twelve month low of $70.70 and a twelve month high of $111.45. The company'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. The stock has a market cap of $5.45 billion, a P/E ratio of 45.19, a P/E/G ratio of 2.34 and a beta of 0.85.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MMSI. Canaccord Genuity Group dropped their price objective on Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company cut 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 issued a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Needham & Company LLC reiterated a "buy" rating and issued a $116.00 price target on shares of Merit Medical Systems in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. began coverage on shares of Merit Medical Systems in a research note on Friday, March 28th. They set an "overweight" rating and a $120.00 price objective for the company. Two investment 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $114.33.

Insider Activity at Merit Medical Systems

In other news, insider Brian G. Lloyd sold 30,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $102.90, for a total transaction of $3,087,000.00. Following the completion of the sale, the insider now directly owns 38,945 shares of the company's stock, valued at $4,007,440.50. The trade was a 43.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $103.86, for a total value of $3,252,895.20. Following the completion of the transaction, the chief executive officer now directly owns 1,086,028 shares in the company, valued at $112,794,868.08. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,132 shares of company stock worth $11,139,521. 3.70% of the stock is owned by company 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.