Renaissance Technologies LLC Has $10.52 Million Stake in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Renaissance Technologies LLC increased its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 16.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 108,712 shares of the medical instruments supplier's stock after purchasing an additional 15,400 shares during the period. Renaissance Technologies LLC owned 0.19% of Merit Medical Systems worth $10,515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stifel Financial Corp grew its position in shares of Merit Medical Systems by 20.7% in the 3rd quarter. Stifel Financial Corp now owns 28,050 shares of the medical instruments supplier's stock worth $2,772,000 after acquiring an additional 4,806 shares in the last quarter. MML Investors Services LLC boosted its holdings in Merit Medical Systems by 8.5% in the third quarter. MML Investors Services LLC now owns 17,690 shares of the medical instruments supplier's stock worth $1,748,000 after purchasing an additional 1,390 shares during the period. Barclays PLC increased its stake 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 purchasing an additional 84,923 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Merit Medical Systems during the third quarter worth $207,000. Finally, Tidal Investments LLC lifted its position in shares of Merit Medical Systems by 1.0% in the 3rd quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier's stock worth $1,028,000 after buying an additional 104 shares during the last quarter. 99.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MMSI. JPMorgan Chase & Co. initiated 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 on the stock. Needham & Company LLC reissued a "buy" rating and issued a $116.00 price target on shares of Merit Medical Systems in a report on Wednesday, April 9th. Wells Fargo & Company lowered their price objective 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. Raymond James raised their target price on Merit Medical Systems from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, December 31st. Finally, Canaccord Genuity Group lowered their price target 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 investment 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $114.33.

Merit Medical Systems Stock Performance

Shares of NASDAQ MMSI traded up $1.85 during midday trading on Tuesday, reaching $91.45. 642,896 shares of the company traded hands, compared to its average volume of 487,333. The stock has a 50-day moving average price of $99.45 and a 200 day moving average price of $100.57. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 44.83, a PEG ratio of 2.34 and a beta of 0.85. 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 52 week low of $72.81 and a 52 week high of $111.45.

Insider Buying and Selling

In other 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 sale, the insider now owns 38,993 shares of the company's stock, valued at approximately $3,879,803.50. The trade was a 39.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Raul Jr. Parra sold 12,451 shares of Merit Medical Systems stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $98.81, for a total value of $1,230,283.31. Following the transaction, the chief financial officer now directly owns 24,201 shares in the company, valued at approximately $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 have sold a total of 109,132 shares of company stock valued at $11,139,521 over the last quarter. Corporate insiders own 3.70% of the company's stock.

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.