Norden Group LLC Makes New $218,000 Investment in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Norden Group LLC bought a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,249 shares of the medical instruments supplier’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Merit Medical Systems during the 4th quarter worth approximately $52,000. Smartleaf Asset Management LLC grew its stake in Merit Medical Systems by 237.7% in 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 period. Fisher Asset Management LLC raised its holdings in Merit Medical Systems by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 224,181 shares of the medical instruments supplier’s stock worth $21,683,000 after purchasing an additional 2,491 shares in the last quarter. Bryn Mawr Capital Management LLC purchased a new position in Merit Medical Systems during the fourth quarter valued at $203,000. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of Merit Medical Systems by 1.3% during the 4th quarter. Illinois Municipal Retirement Fund now owns 30,342 shares of the medical instruments supplier’s stock valued at $2,935,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI opened at $101.89 on Wednesday. The company has a 50 day moving average of $103.09 and a 200 day moving average of $100.26. 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 twelve month low of $70.70 and a twelve month 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.

Insider Transactions at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 12,451 shares of Merit Medical Systems stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 24,201 shares in the company, valued at $2,391,300.81. The trade was a 33.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen C. Evans sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $105.31, for a total transaction of $526,550.00. Following the transaction, the director now directly owns 4,657 shares of the company’s stock, valued at $490,428.67. The trade was a 51.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,451 shares of company stock worth $4,244,333 over the last quarter. 3.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MMSI has been the subject of several research reports. Canaccord Genuity Group decreased their price target on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company decreased 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. Needham & Company LLC dropped their price target on 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. Barrington Research cut their price target 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. Finally, Raymond James lifted their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 31st. Two research 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.78.

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.