8,062 Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI) Acquired by Magnetar Financial LLC

Magnetar Financial LLC purchased a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 8,062 shares of the medical instruments supplier’s stock, valued at approximately $780,000.

A number of other institutional investors have also added to or reduced their stakes in MMSI. Natixis Advisors LLC raised its stake in Merit Medical Systems by 1.5% during the 3rd quarter. Natixis Advisors LLC now owns 67,544 shares of the medical instruments supplier’s stock worth $6,675,000 after buying an additional 1,009 shares during the period. Pathstone Holdings LLC raised its holdings in shares of Merit Medical Systems by 20.1% in the 3rd quarter. Pathstone Holdings LLC now owns 34,950 shares of the medical instruments supplier’s stock worth $3,454,000 after acquiring an additional 5,844 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Merit Medical Systems in the 3rd quarter worth about $935,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Merit Medical Systems by 216.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,064 shares of the medical instruments supplier’s stock worth $995,000 after acquiring an additional 6,887 shares during the last quarter. Finally, King Luther Capital Management Corp acquired a new stake in shares of Merit Medical Systems in the 3rd quarter worth about $5,462,000. 99.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Fred P. Lampropoulos sold 31,320 shares of Merit Medical Systems stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total value of $3,252,895.20. Following the completion of the transaction, the chief executive officer now directly owns 1,086,028 shares in the company, valued at approximately $112,794,868.08. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian G. Lloyd sold 30,000 shares of Merit Medical Systems stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $102.90, for a total transaction of $3,087,000.00. Following the completion of the transaction, the insider now owns 38,945 shares of the company’s stock, valued at $4,007,440.50. This represents a 43.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,132 shares of company stock valued at $11,139,521 over the last ninety days. 3.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MMSI has been the topic of a number of analyst reports. Piper Sandler restated an “overweight” rating and issued a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Raymond James upped their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 31st. Wells Fargo & Company lowered 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 report on Wednesday, February 26th. Canaccord Genuity Group lowered their target price on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, Barrington Research lowered their target price on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Two investment 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.78.

Merit Medical Systems Trading Up 0.4 %

Shares of Merit Medical Systems stock opened at $101.68 on Friday. 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 $5.98 billion, a PE ratio of 49.84, a P/E/G ratio of 2.34 and a beta of 0.91. The stock has a fifty day moving average price of $103.93 and a 200-day moving average price of $100.75. 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 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.