Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 63.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,183 shares of the medical instruments supplier's stock after purchasing an additional 10,135 shares during the period. Russell Investments Group Ltd.'s holdings in Merit Medical Systems were worth $2,532,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. NewSquare Capital LLC acquired a new stake in Merit Medical Systems during the 4th quarter worth approximately $32,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Merit Medical Systems in the 4th quarter valued at about $52,000. Smartleaf Asset Management LLC boosted its stake in shares of Merit Medical Systems by 237.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier's stock valued at $134,000 after buying an additional 977 shares during the period. GAMMA Investing LLC increased its stake in shares of Merit Medical Systems by 14.7% during the fourth 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 period. Finally, Sanctuary Advisors LLC acquired a new stake in Merit Medical Systems in the third quarter valued at approximately $207,000. Institutional investors and hedge funds own 99.66% of the company's stock.

Insiders Place Their Bets

In related news, CEO Fred P. Lampropoulos sold 31,320 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $103.86, for a total transaction of $3,252,895.20. Following the transaction, the chief executive officer now owns 1,086,028 shares of the company's stock, valued at $112,794,868.08. This trade represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Raul Jr. Parra sold 12,451 shares of the company'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 value of $1,230,283.31. Following the sale, the chief financial officer now directly owns 24,201 shares of the company's stock, valued at approximately $2,391,300.81. This represents a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,132 shares of company stock valued at $11,139,521. Insiders own 3.70% of the company's stock.

Merit Medical Systems Stock Performance

Shares of MMSI traded up $3.32 during mid-day trading on Wednesday, reaching $94.77. 123,468 shares of the company's stock were exchanged, compared to its average volume of 485,899. The business's fifty day simple moving average is $99.45 and its 200-day simple moving average is $100.57. The stock has a market capitalization of $5.60 billion, a PE ratio of 46.46, a price-to-earnings-growth ratio of 2.34 and a beta of 0.85. Merit Medical Systems, Inc. has a 52-week low of $72.81 and a 52-week 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

Several equities research analysts have recently issued reports on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Barrington Research reaffirmed an "outperform" rating and set a $111.00 price objective on shares of Merit Medical Systems in a research report on Friday, April 11th. Raymond James raised their target price on Merit Medical Systems from $105.00 to $110.00 and gave the stock an "outperform" rating in a research 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 report on Wednesday, February 26th. Finally, Canaccord Genuity Group cut their price objective on shares of Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $114.33.

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.