Sei Investments Co. Has $18.12 Million Stake in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Sei Investments Co. decreased its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 6.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 187,320 shares of the medical instruments supplier's stock after selling 13,981 shares during the quarter. Sei Investments Co. owned 0.32% of Merit Medical Systems worth $18,117,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Merit Medical Systems by 216.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,064 shares of the medical instruments supplier's stock valued at $995,000 after buying an additional 6,887 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Merit Medical Systems by 8.0% during the 3rd 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 during the period. Citigroup Inc. raised its holdings in Merit Medical Systems by 71.0% in the 3rd quarter. Citigroup Inc. now owns 74,656 shares of the medical instruments supplier's stock valued at $7,378,000 after acquiring an additional 30,988 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Merit Medical Systems by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 221,690 shares of the medical instruments supplier's stock valued at $21,910,000 after acquiring an additional 6,837 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Merit Medical Systems during the 3rd quarter worth $228,000. Institutional investors own 99.66% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $116.00 price objective (up previously from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Canaccord Genuity Group cut 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 report on Wednesday, February 26th. Barrington Research decreased their price objective on shares of Merit Medical Systems from $115.00 to $111.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. 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 research report on Tuesday, December 31st. Finally, Wells Fargo & Company reduced their target price on Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.70.

Insider Buying and Selling at Merit Medical Systems

In related news, CFO Raul Jr. Parra sold 12,451 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 24,201 shares in the company, valued at $2,391,300.81. This represents a 33.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen C. Evans sold 5,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $105.31, for a total value of $526,550.00. Following the transaction, the director now directly owns 4,657 shares of the company's stock, valued at approximately $490,428.67. This represents a 51.78 % 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 currently owned by insiders.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI traded down $0.26 during mid-day trading on Tuesday, hitting $105.45. 524,572 shares of the stock traded hands, compared to its average volume of 453,605. The company has a market cap of $6.20 billion, a PE ratio of 51.69, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91. Merit Medical Systems, Inc. has a twelve month low of $70.70 and a twelve month 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. The firm has a 50 day simple moving average of $104.38 and a two-hundred day simple moving average of $101.20.

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.