Merit Medical Systems, Inc. (NASDAQ:MMSI) Position Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 32.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,171 shares of the medical instruments supplier’s stock after buying an additional 19,001 shares during the quarter. Victory Capital Management Inc. owned about 0.13% of Merit Medical Systems worth $7,561,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Louisiana State Employees Retirement System boosted its stake in Merit Medical Systems by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier’s stock valued at $2,728,000 after purchasing an additional 100 shares in the last quarter. Tidal Investments LLC boosted its stake in Merit Medical Systems by 1.0% during the 3rd quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier’s stock valued at $1,028,000 after purchasing an additional 104 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in Merit Medical Systems by 0.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier’s stock valued at $2,830,000 after purchasing an additional 170 shares in the last quarter. Captrust Financial Advisors boosted its stake in Merit Medical Systems by 2.6% during the 3rd quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier’s stock valued at $735,000 after purchasing an additional 187 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Merit Medical Systems by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock valued at $144,000 after purchasing an additional 191 shares in the last quarter. 99.66% of the stock is owned by institutional investors.

Insider Activity

In other 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 transaction of $2,487,500.00. Following the transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the director now directly owns 4,657 shares in the company, valued at $490,428.67. This represents a 51.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,132 shares of company stock valued at $11,139,521. 3.70% of the stock is owned by company insiders.

Merit Medical Systems Trading Up 1.3 %

Merit Medical Systems stock opened at $98.94 on Friday. The firm has a 50-day moving average of $103.52 and a 200-day moving average of $100.57. Merit Medical Systems, Inc. has a one year low of $70.70 and a one year high of $111.45. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 48.50, a P/E/G ratio of 2.34 and a beta of 0.91.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Piper Sandler reiterated an “overweight” rating and set a $116.00 price objective (up previously from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Wells Fargo & Company cut their price objective on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Raymond James increased their target price on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 31st. Canaccord Genuity Group reduced their target price 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. Finally, Needham & Company LLC reduced their target price 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. Two 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.