Farther Finance Advisors LLC Reduces Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Farther Finance Advisors LLC decreased its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 25.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 783 shares of the medical instruments supplier’s stock after selling 273 shares during the period. Farther Finance Advisors LLC’s holdings in Merit Medical Systems were worth $76,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. NewSquare Capital LLC acquired a new stake in shares of Merit Medical Systems during the fourth quarter worth about $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Merit Medical Systems during the fourth quarter worth about $52,000. Harvest Fund Management Co. Ltd acquired a new position in Merit Medical Systems in the third quarter valued at approximately $120,000. Smartleaf Asset Management LLC lifted its holdings 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 valued at $134,000 after acquiring an additional 977 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Merit Medical Systems by 14.7% in the fourth quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock valued at $144,000 after acquiring an additional 191 shares during the period. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Stock Performance

Shares of MMSI stock opened at $101.68 on Friday. The stock has a fifty day moving average price of $103.93 and a 200 day moving average price of $100.78. The stock 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. Merit Medical Systems, Inc. has a 1 year low of $70.70 and a 1 year high of $111.45. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36.

Insider Transactions at Merit Medical Systems

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MMSI shares. Needham & Company LLC decreased their price target on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Canaccord Genuity Group decreased their price target on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. 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 report on Wednesday, February 26th. Barrington Research decreased their price target on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $116.00 target price (up from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Two 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. Based on data from MarketBeat.com, Merit Medical Systems has an average rating of “Moderate Buy” and a consensus 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.