Merit Medical Systems, Inc. (NASDAQ:MMSI) Stake Lowered by Farther Finance Advisors LLC

Farther Finance Advisors LLC cut its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 25.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 783 shares of the medical instruments supplier’s stock after selling 273 shares during the quarter. Farther Finance Advisors LLC’s holdings in Merit Medical Systems were worth $76,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Natixis Advisors LLC grew its holdings in Merit Medical Systems by 1.5% in 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 in the last quarter. Pathstone Holdings LLC grew its holdings in 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 buying an additional 5,844 shares in the last quarter. Jennison Associates LLC bought a new position in Merit Medical Systems in the 3rd quarter worth approximately $935,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in 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 buying an additional 6,887 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in Merit Medical Systems by 67.6% in the 3rd quarter. Intech Investment Management LLC now owns 14,024 shares of the medical instruments supplier’s stock worth $1,386,000 after buying an additional 5,654 shares in the last quarter. 99.66% of the stock is owned by institutional investors.

Merit Medical Systems Stock Up 0.4 %

NASDAQ MMSI opened at $101.68 on Friday. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average is $103.93 and its two-hundred day moving average is $100.78. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 49.84, a PEG ratio of 2.34 and a beta of 0.91. Merit Medical Systems, Inc. has a 1-year low of $70.70 and a 1-year high of $111.45.

Insider Transactions at Merit Medical Systems

In related news, CFO Raul Jr. Parra sold 12,451 shares of the business’s 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 transaction, the chief financial officer now owns 24,201 shares in the company, valued at $2,391,300.81. The trade was a 33.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian G. Lloyd sold 25,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 38,993 shares of the company’s stock, valued at $3,879,803.50. This trade represents a 39.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,132 shares of company stock valued at $11,139,521 in the last three months. 3.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MMSI shares. Wells Fargo & Company decreased their price target on 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. Barrington Research lowered their price target on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Canaccord Genuity Group lowered their price target on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Raymond James lifted their price target 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. Finally, Piper Sandler reiterated an “overweight” rating and set a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $110.78.

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.