Thrivent Financial for Lutherans Has $4.36 Million Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Thrivent Financial for Lutherans cut its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1.5% in the 4th quarter, HoldingsChannel reports. The fund owned 45,047 shares of the medical instruments supplier’s stock after selling 664 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Merit Medical Systems were worth $4,357,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. NewSquare Capital LLC acquired a new stake in Merit Medical Systems during the 4th quarter worth approximately $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Merit Medical Systems during the fourth quarter worth $52,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Merit Medical Systems in the third quarter valued at about $120,000. Smartleaf Asset Management LLC grew its stake 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 valued at $134,000 after acquiring an additional 977 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Merit Medical Systems by 14.7% during the fourth quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock worth $144,000 after acquiring an additional 191 shares during the period. Institutional investors own 99.66% of the company’s stock.

Insider Transactions at Merit Medical Systems

In other news, Director Stephen C. Evans sold 5,000 shares of Merit Medical Systems stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $105.31, for a total value of $526,550.00. Following the completion of the transaction, the director now directly owns 4,657 shares of the company’s stock, valued at approximately $490,428.67. This trade represents a 51.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Raul Jr. Parra sold 12,451 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 24,201 shares in the company, valued at approximately $2,391,300.81. The trade was a 33.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,132 shares of company stock worth $11,139,521. Company insiders own 3.70% of the company’s stock.

Merit Medical Systems Price Performance

Shares of MMSI opened at $104.74 on Wednesday. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 51.34, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91. The business has a 50-day moving average of $104.21 and a 200-day moving average of $100.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. Merit Medical Systems, Inc. has a 1 year low of $70.70 and a 1 year high of $111.45.

Wall Street Analysts Forecast Growth

MMSI has been the topic of a number of analyst reports. Needham & Company LLC decreased 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 report on Wednesday, February 26th. Raymond James increased their price target on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 31st. 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 report on Wednesday, January 29th. Barrington Research reduced their target price on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped 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. Two equities 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 currently has an average rating of “Moderate Buy” and an average target price of $110.78.

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.