Walleye Trading LLC Acquires New Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Walleye Trading LLC acquired a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 4,598 shares of the medical instruments supplier's stock, valued at approximately $445,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NewSquare Capital LLC bought a new position in shares of Merit Medical Systems during the fourth quarter valued at about $32,000. Kohmann Bosshard Financial Services LLC bought a new position in Merit Medical Systems during the 4th quarter valued at approximately $52,000. Federated Hermes Inc. lifted its holdings in Merit Medical Systems by 139.1% in the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock worth $63,000 after buying an additional 381 shares during the period. Smartleaf Asset Management LLC grew its position 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 worth $134,000 after buying an additional 977 shares during the last quarter. Finally, 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 valued at $144,000 after buying an additional 191 shares during the period. Institutional investors own 99.66% of the company's stock.

Insider Transactions at Merit Medical Systems

In related news, CEO Fred P. Lampropoulos sold 31,320 shares of the business'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 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. The trade was a 2.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian G. Lloyd sold 25,000 shares of the stock in a transaction on Friday, February 28th. The shares were 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 in the company, valued at approximately $3,879,803.50. This represents a 39.07 % decrease in their ownership of the stock. 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 in the last quarter. 3.70% of the stock is owned by insiders.

Merit Medical Systems Stock Down 1.3 %

MMSI stock traded down $1.20 on Friday, reaching $93.48. 600,986 shares of the company traded hands, compared to its average volume of 493,896. 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 fifty day simple moving average of $98.90 and a 200-day simple moving average of $100.52. Merit Medical Systems, Inc. has a one year low of $72.81 and a one year high of $111.45. The company has a market cap of $5.52 billion, a P/E ratio of 45.95, a price-to-earnings-growth ratio of 2.34 and a beta of 0.85.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MMSI. Robert W. Baird cut their price target on shares of Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday. Canaccord Genuity Group cut their target price on shares of Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC reduced their price target on shares of Merit Medical Systems from $116.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday. Raymond James lowered their price objective on shares of Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating for the company in a report on Friday. Finally, Piper Sandler reduced their target price on Merit Medical Systems from $116.00 to $112.00 and set an "overweight" rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.11.

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.