Westover Capital Advisors LLC Takes $634,000 Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Westover Capital Advisors LLC acquired a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,560 shares of the medical instruments supplier’s stock, valued at approximately $634,000.

Several other large investors have also recently added to or reduced their stakes in MMSI. Louisiana State Employees Retirement System grew its stake 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 worth $2,728,000 after acquiring an additional 100 shares in the last quarter. Tidal Investments LLC grew its stake in Merit Medical Systems by 1.0% during the 3rd quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier’s stock worth $1,028,000 after purchasing an additional 104 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in Merit Medical Systems by 0.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier’s stock worth $2,830,000 after purchasing an additional 170 shares during the period. Captrust Financial Advisors raised its position in Merit Medical Systems by 2.6% in the 3rd quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier’s stock valued at $735,000 after purchasing an additional 187 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Merit Medical Systems by 14.7% in the 4th quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock valued at $144,000 after purchasing an additional 191 shares in the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Merit Medical Systems

In other news, insider Brian G. Lloyd sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 38,993 shares of the company’s stock, valued at approximately $3,879,803.50. This represents a 39.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Raul Jr. Parra sold 12,451 shares of the business’s stock in a transaction dated 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 in the company, valued at $2,391,300.81. This trade represents a 33.97 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MMSI shares. Barrington Research cut their target price on shares of 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. Needham & Company LLC dropped their price objective on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler reaffirmed an “overweight” rating and set a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Raymond James increased their target price on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 31st. Finally, Canaccord Genuity Group decreased their price target on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $110.78.

Merit Medical Systems Stock Up 1.0 %

Merit Medical Systems stock opened at $103.03 on Tuesday. The stock has a 50-day simple moving average of $103.02 and a 200-day simple moving average of $100.18. The company has a market capitalization of $6.06 billion, a P/E ratio of 50.51, a PEG ratio of 2.34 and a beta of 0.87. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. Merit Medical Systems, Inc. has a fifty-two week low of $70.70 and a fifty-two 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.