Altium Capital Management LLC Raises Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Altium Capital Management LLC increased its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 17.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,000 shares of the medical instruments supplier’s stock after purchasing an additional 15,000 shares during the period. Merit Medical Systems accounts for about 2.7% of Altium Capital Management LLC’s holdings, making the stock its 12th biggest holding. Altium Capital Management LLC’s holdings in Merit Medical Systems were worth $9,672,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MMSI. Barclays PLC lifted its stake in shares of Merit Medical Systems by 305.4% during the third quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier’s stock worth $11,142,000 after purchasing an additional 84,923 shares in the last quarter. EULAV Asset Management raised its holdings in shares of Merit Medical Systems by 400.0% during the 4th quarter. EULAV Asset Management now owns 115,000 shares of the medical instruments supplier’s stock valued at $11,123,000 after buying an additional 92,000 shares during the period. Pictet Asset Management Holding SA lifted its position in Merit Medical Systems by 13.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,675 shares of the medical instruments supplier’s stock worth $839,000 after acquiring an additional 1,049 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Merit Medical Systems by 85.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier’s stock worth $56,921,000 after acquiring an additional 265,648 shares during the period. Finally, AMI Asset Management Corp grew its position in Merit Medical Systems by 28.7% in the fourth quarter. AMI Asset Management Corp now owns 33,041 shares of the medical instruments supplier’s stock valued at $3,196,000 after acquiring an additional 7,367 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MMSI has been the topic of a number of recent research reports. Raymond James boosted their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 31st. Piper Sandler reiterated 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. started coverage on shares of Merit Medical Systems in a research report on Friday, March 28th. They issued an “overweight” rating and a $120.00 price objective for the company. Barrington Research reaffirmed an “outperform” rating and set a $111.00 target price on shares of Merit Medical Systems in a research report on Friday, April 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $116.00 price target on shares of Merit Medical Systems in a report on Wednesday, April 9th. Two equities 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 MarketBeat.com, Merit Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.33.

Insider Activity at Merit Medical Systems

In related news, insider Brian G. Lloyd sold 25,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the completion of the sale, the insider now owns 38,993 shares of the company’s stock, valued at $3,879,803.50. This represents a 39.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen C. Evans sold 5,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the sale, the director now owns 4,657 shares in the company, valued at approximately $490,428.67. This trade represents a 51.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,132 shares of company stock valued at $11,139,521. Corporate insiders own 3.70% of the company’s stock.

Merit Medical Systems Trading Up 0.4 %

NASDAQ:MMSI opened at $90.89 on Friday. The company has a market cap of $5.37 billion, a PE ratio of 44.55, a P/E/G ratio of 2.34 and a beta of 0.85. The business’s 50 day moving average is $100.51 and its two-hundred day moving average is $100.66. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 52 week low of $70.70 and a 52 week high of $111.45.

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.