Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Sold by Zacks Investment Management

Zacks Investment Management decreased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 16.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,676 shares of the medical instruments supplier’s stock after selling 1,345 shares during the period. Zacks Investment Management’s holdings in Merit Medical Systems were worth $646,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jump Financial LLC boosted its stake in shares of Merit Medical Systems by 391.6% during the fourth quarter. Jump Financial LLC now owns 32,429 shares of the medical instruments supplier’s stock worth $3,137,000 after buying an additional 25,833 shares during the period. Walleye Trading LLC purchased a new stake in Merit Medical Systems during the 4th quarter valued at approximately $445,000. Walleye Capital LLC acquired a new stake in Merit Medical Systems during the 4th quarter worth approximately $499,000. CreativeOne Wealth LLC grew its stake in shares of Merit Medical Systems by 190.1% in the 4th quarter. CreativeOne Wealth LLC now owns 15,433 shares of the medical instruments supplier’s stock valued at $1,493,000 after purchasing an additional 10,113 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in shares of Merit Medical Systems by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,987 shares of the medical instruments supplier’s stock valued at $579,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Stock Up 0.4 %

NASDAQ:MMSI opened at $90.89 on Friday. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average of $100.15 and a 200-day moving average of $100.64. The firm has a market capitalization of $5.37 billion, a PE ratio of 44.55, a price-to-earnings-growth ratio of 2.34 and a beta of 0.85. Merit Medical Systems, Inc. has a 52 week low of $71.57 and a 52 week high of $111.45.

Insider Buying and Selling at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 12,451 shares of the business’s 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 sale, the chief financial officer now owns 24,201 shares of the company’s stock, valued at approximately $2,391,300.81. The trade was a 33.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian G. Lloyd sold 25,000 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was 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 in the company, valued at approximately $3,879,803.50. This trade represents a 39.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,132 shares of company stock worth $11,139,521. 3.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MMSI shares. JPMorgan Chase & Co. assumed 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 on the stock. Raymond James lifted their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 31st. Piper Sandler reissued an “overweight” rating and set a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Canaccord Genuity Group lowered their price objective on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their target price on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $114.33.

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.