Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC trimmed its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,747 shares of the medical instruments supplier's stock after selling 4,853 shares during the period. Trillium Asset Management LLC owned 0.20% of Merit Medical Systems worth $11,001,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Louisiana State Employees Retirement System raised its position in shares of Merit Medical Systems by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier's stock valued at $2,728,000 after buying an additional 100 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of Merit Medical Systems by 4.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,347 shares of the medical instruments supplier's stock valued at $227,000 after buying an additional 103 shares during the last quarter. Tidal Investments LLC raised its position in shares of Merit Medical Systems by 1.0% in the third quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier's stock valued at $1,028,000 after buying an additional 104 shares during the last quarter. Arizona State Retirement System raised its position in shares of Merit Medical Systems by 0.8% in the fourth quarter. Arizona State Retirement System now owns 16,869 shares of the medical instruments supplier's stock valued at $1,632,000 after buying an additional 137 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its position in shares of Merit Medical Systems by 0.6% in the third quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier's stock valued at $2,830,000 after buying an additional 170 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Merit Medical Systems Trading Up 0.4 %

MMSI stock traded up $0.40 during mid-day trading on Friday, hitting $101.68. 1,239,164 shares of the company were exchanged, compared to its average volume of 424,139. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $5.98 billion, a P/E ratio of 49.84, a PEG ratio of 2.34 and a beta of 0.91. The business has a fifty day simple moving average of $103.93 and a 200-day simple moving average of $100.78. Merit Medical Systems, Inc. has a 12-month low of $70.70 and a 12-month high of $111.45.

Insiders Place Their Bets

In other news, CFO Raul Jr. Parra sold 12,451 shares of the firm'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 completion of the transaction, the chief financial officer now owns 24,201 shares of the company's stock, valued at approximately $2,391,300.81. This trade represents a 33.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total transaction of $3,252,895.20. Following the completion of the transaction, the chief executive officer now directly owns 1,086,028 shares of the company's stock, valued at approximately $112,794,868.08. The trade was a 2.80 % decrease in their position. 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 90 days. 3.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Piper Sandler reiterated an "overweight" rating and issued a $116.00 target price (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Needham & Company LLC dropped their price objective on shares of Merit Medical Systems from $122.00 to $116.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company dropped their price objective on shares of Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Canaccord Genuity Group dropped 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 report on Wednesday, February 26th. Finally, Barrington Research dropped their price objective on shares of Merit Medical Systems from $115.00 to $111.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Two 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's stock. Based on data from MarketBeat.com, Merit Medical Systems currently has an average rating of "Moderate Buy" and an average target price of $110.78.

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.