Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P trimmed its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,473 shares of the medical instruments supplier’s stock after selling 140 shares during the period. Martingale Asset Management L P’s holdings in Merit Medical Systems were worth $2,947,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewSquare Capital LLC acquired a new stake in Merit Medical Systems in the fourth quarter valued at $32,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Merit Medical Systems in the 4th quarter worth about $52,000. Federated Hermes Inc. raised its stake in shares of Merit Medical Systems by 139.1% in the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock valued at $63,000 after purchasing an additional 381 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Merit Medical Systems by 237.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock worth $134,000 after purchasing an additional 977 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Merit Medical Systems by 14.7% in the fourth quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock worth $144,000 after purchasing an additional 191 shares in the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barrington Research cut their price objective on 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. Canaccord Genuity Group dropped their price target on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $116.00 price objective (up previously from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. JPMorgan Chase & Co. assumed coverage on shares of Merit Medical Systems in a report on Friday, March 28th. They set an “overweight” rating and a $120.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $116.00 price target on shares of Merit Medical Systems in a report on Wednesday. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.70.

Merit Medical Systems Trading Up 8.3 %

Merit Medical Systems stock opened at $95.79 on Thursday. The firm has a 50-day moving average price of $102.56 and a two-hundred day moving average price of $100.96. Merit Medical Systems, Inc. has a 52-week low of $70.70 and a 52-week high of $111.45. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 46.96, a PEG ratio of 2.34 and a beta of 0.85. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

Insider Buying and Selling

In other Merit Medical Systems news, CEO Fred P. Lampropoulos sold 31,320 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 1,086,028 shares in the company, valued at approximately $112,794,868.08. The trade was a 2.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Raul Jr. Parra sold 5,361 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $103.58, for a total value of $555,292.38. Following the transaction, the chief financial officer now directly owns 24,201 shares in the company, valued at $2,506,739.58. This trade represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,132 shares of company stock valued at $11,139,521 in the last three months. 3.70% of the stock is currently owned by corporate insiders.

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.