Jackson Creek Investment Advisors LLC Sells 499 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Jackson Creek Investment Advisors LLC trimmed its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,972 shares of the medical instruments supplier’s stock after selling 499 shares during the period. Jackson Creek Investment Advisors LLC’s holdings in Merit Medical Systems were worth $1,545,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. FMR LLC boosted its position in Merit Medical Systems by 70.1% in the 3rd quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock valued at $155,879,000 after buying an additional 649,799 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Merit Medical Systems during the fourth quarter valued at $48,926,000. Bryn Mawr Capital Management LLC bought a new position in Merit Medical Systems in the fourth quarter valued at about $36,057,000. Two Sigma Advisers LP increased its position in Merit Medical Systems by 218.9% in the third quarter. Two Sigma Advisers LP now owns 445,500 shares of the medical instruments supplier’s stock worth $44,029,000 after purchasing an additional 305,800 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Merit Medical Systems by 85.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier’s stock worth $56,921,000 after purchasing an additional 265,648 shares during the last quarter. 99.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Needham & Company LLC reduced their target price on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Canaccord Genuity Group dropped their target price 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. Wells Fargo & Company reduced their price target on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Raymond James lifted their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 31st. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.78.

Insider Activity at Merit Medical Systems

In related news, CEO Fred P. Lampropoulos sold 31,320 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total value of $3,252,895.20. Following the completion of the transaction, the chief executive officer now directly owns 1,086,028 shares of the company’s stock, valued at approximately $112,794,868.08. This represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian G. Lloyd sold 25,000 shares of Merit Medical Systems stock in a transaction dated 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 completion of the sale, the insider now directly owns 38,993 shares in the company, valued at $3,879,803.50. This represents a 39.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 109,132 shares of company stock worth $11,139,521. 3.70% of the stock is owned by company insiders.

Merit Medical Systems Stock Down 3.0 %

Shares of Merit Medical Systems stock opened at $101.73 on Friday. The company has a market capitalization of $5.99 billion, a P/E ratio of 49.87, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. 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 business has a 50-day moving average of $103.29 and a two-hundred day moving average of $100.30. Merit Medical Systems, Inc. has a 1 year low of $70.70 and a 1 year high of $111.45.

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.