Victory Capital Management Inc. Purchases 19,001 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Victory Capital Management Inc. increased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 32.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,171 shares of the medical instruments supplier’s stock after buying an additional 19,001 shares during the period. Victory Capital Management Inc.’s holdings in Merit Medical Systems were worth $7,561,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MMSI. Westover Capital Advisors LLC acquired a new position in shares of Merit Medical Systems during the fourth quarter valued at about $634,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Merit Medical Systems by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 748,561 shares of the medical instruments supplier’s stock valued at $72,401,000 after buying an additional 21,221 shares during the last quarter. Norden Group LLC acquired a new position in shares of Merit Medical Systems during the fourth quarter valued at about $218,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Merit Medical Systems during the fourth quarter valued at about $52,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Merit Medical Systems by 237.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock valued at $134,000 after buying an additional 977 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MMSI shares. Needham & Company LLC cut their price target on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Canaccord Genuity Group cut their price target on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Barrington Research cut their price target on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Piper Sandler restated 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. Finally, Wells Fargo & Company cut their price target on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.78.

Merit Medical Systems Stock Up 1.3 %

NASDAQ:MMSI opened at $98.94 on Friday. The firm has a market cap of $5.82 billion, a P/E ratio of 48.50, a P/E/G ratio of 2.34 and a beta of 0.91. 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. The firm has a 50-day simple moving average of $103.52 and a two-hundred day simple moving average of $100.57.

Insider Activity

In related news, insider Brian G. Lloyd sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 38,993 shares of the company’s stock, valued at approximately $3,879,803.50. This trade represents a 39.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stephen C. Evans sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the completion of the transaction, the director now directly owns 4,657 shares in the company, valued at approximately $490,428.67. The trade was a 51.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,132 shares of company stock valued at $11,139,521 in the last 90 days. 3.70% of the stock is currently owned by insiders.

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.