Great Lakes Advisors LLC Reduces Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Great Lakes Advisors LLC lessened its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 130,394 shares of the medical instruments supplier’s stock after selling 3,989 shares during the quarter. Great Lakes Advisors LLC’s holdings in Merit Medical Systems were worth $12,612,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. NewSquare Capital LLC purchased a new position in shares of Merit Medical Systems in the fourth quarter worth approximately $32,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Merit Medical Systems in the fourth quarter worth approximately $52,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Merit Medical Systems in the third quarter worth approximately $120,000. Smartleaf Asset Management LLC boosted its holdings in shares of 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 worth $134,000 after buying an additional 977 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of 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 worth $144,000 after buying an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Insider Activity at Merit Medical Systems

In related news, insider Brian G. Lloyd sold 30,000 shares of the company’s stock in a transaction 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen C. Evans sold 5,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $105.31, for a total transaction of $526,550.00. Following the sale, 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 over the last 90 days. 3.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Barrington Research dropped their price objective 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. Canaccord Genuity Group dropped their price target on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Piper Sandler reiterated an “overweight” rating and issued a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Wells Fargo & Company dropped their price target on shares of 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. Finally, Needham & Company LLC dropped their price target on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Merit Medical Systems has an average rating of “Moderate Buy” and an average price target of $110.78.

Merit Medical Systems Price Performance

Merit Medical Systems stock opened at $98.37 on Thursday. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 48.22, a PEG ratio of 2.34 and a beta of 0.91. The firm’s fifty day moving average is $103.43 and its 200 day moving average is $100.55. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 52-week low of $70.70 and a 52-week high of $111.45.

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.