Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 5.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,115 shares of the medical instruments supplier’s stock after selling 457 shares during the period. QRG Capital Management Inc.’s holdings in Merit Medical Systems were worth $785,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC increased its position in shares of Merit Medical Systems by 305.4% in the third quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier’s stock valued at $11,142,000 after buying an additional 84,923 shares in the last quarter. EULAV Asset Management grew its stake in Merit Medical Systems by 400.0% in the 4th quarter. EULAV Asset Management now owns 115,000 shares of the medical instruments supplier’s stock valued at $11,123,000 after acquiring an additional 92,000 shares during the last quarter. Van ECK Associates Corp purchased a new position in Merit Medical Systems during the 3rd quarter valued at about $718,000. Fisher Asset Management LLC raised its position in Merit Medical Systems by 3.2% during the third quarter. Fisher Asset Management LLC now owns 221,690 shares of the medical instruments supplier’s stock worth $21,910,000 after acquiring an additional 6,837 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Merit Medical Systems by 85.6% in the third quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier’s stock valued at $56,921,000 after purchasing an additional 265,648 shares during the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MMSI has been the subject of several research reports. Needham & Company LLC cut their price objective on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Raymond James upped their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 31st. Barrington Research dropped their price objective on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company cut their target price on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Merit Medical Systems currently has an average rating of “Moderate Buy” and a consensus target price of $110.78.

Insiders Place Their Bets

In other Merit Medical Systems news, 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 of the company’s stock, valued at approximately $3,879,803.50. The trade was a 39.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen C. Evans sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $105.31, for a total value of $526,550.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,451 shares of company stock valued at $4,244,333 over the last quarter. Company insiders own 3.70% of the company’s stock.

Merit Medical Systems Trading Down 1.1 %

Shares of MMSI stock opened at $101.89 on Wednesday. The firm’s 50-day simple moving average is $103.09 and its 200-day simple moving average is $100.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. Merit Medical Systems, Inc. has a 1-year low of $70.70 and a 1-year high of $111.45. The firm has a market cap of $5.99 billion, a P/E ratio of 49.95, a PEG ratio of 2.34 and a beta of 0.87.

Merit Medical Systems 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.