Russell Investments Group Ltd. Acquires 10,135 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Russell Investments Group Ltd. grew its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 63.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,183 shares of the medical instruments supplier’s stock after acquiring an additional 10,135 shares during the period. Russell Investments Group Ltd.’s holdings in Merit Medical Systems were worth $2,532,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. NewSquare Capital LLC acquired a new position in Merit Medical Systems during the fourth quarter worth $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Merit Medical Systems during the 4th quarter valued at about $52,000. Smartleaf Asset Management LLC raised its stake in shares of Merit Medical Systems by 237.7% in the 4th 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. GAMMA Investing LLC lifted its holdings in Merit Medical Systems by 14.7% in the 4th quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock worth $144,000 after purchasing an additional 191 shares during the last quarter. Finally, Ballentine Partners LLC bought a new stake in Merit Medical Systems during the fourth quarter worth approximately $200,000. Institutional investors own 99.66% of the company’s stock.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 12,451 shares of Merit Medical Systems stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the sale, the chief financial officer now directly owns 24,201 shares of the company’s stock, valued at approximately $2,391,300.81. The trade was a 33.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian G. Lloyd sold 25,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $99.50, for a total value of $2,487,500.00. Following the completion of the transaction, the insider now directly owns 38,993 shares of the company’s stock, valued at approximately $3,879,803.50. The trade was a 39.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,132 shares of company stock valued at $11,139,521 in the last 90 days. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MMSI shares. Canaccord Genuity Group decreased their price objective on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Raymond James upped their price target on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 31st. Needham & Company LLC reiterated a “buy” rating and issued a $116.00 price objective on shares of Merit Medical Systems in a research note on Wednesday, April 9th. Wells Fargo & Company decreased their target price 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. Finally, Piper Sandler reaffirmed 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. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $114.33.

Merit Medical Systems Stock Performance

Shares of NASDAQ MMSI opened at $90.89 on Friday. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 44.55, a PEG ratio of 2.34 and a beta of 0.85. Merit Medical Systems, Inc. has a one year low of $70.70 and a one year high of $111.45. The business has a fifty day simple moving average of $100.51 and a 200 day simple moving average of $100.66. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57.

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.