Westover Capital Advisors LLC Invests $634,000 in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Westover Capital Advisors LLC purchased a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,560 shares of the medical instruments supplier’s stock, valued at approximately $634,000.

Several other large investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Merit Medical Systems during the 4th quarter worth approximately $52,000. Farther Finance Advisors LLC boosted its stake in shares of Merit Medical Systems by 32.7% in the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock valued at $104,000 after buying an additional 260 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Merit Medical Systems during the third quarter worth $120,000. Smartleaf Asset Management LLC raised its position in 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 acquiring an additional 977 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in 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 valued at $144,000 after acquiring an additional 191 shares during the period. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Trading Up 1.0 %

Shares of MMSI stock opened at $103.03 on Tuesday. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 50.51, a PEG ratio of 2.34 and a beta of 0.87. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $103.02 and a 200 day moving average price of $100.18. Merit Medical Systems, Inc. has a twelve month low of $70.70 and a twelve month high of $111.45.

Insider Transactions at Merit Medical Systems

In related 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 sale, the insider now owns 38,993 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Raul Jr. Parra sold 12,451 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 24,201 shares of the company’s stock, valued at $2,391,300.81. This trade represents a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Barrington Research cut their price target on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company dropped their target price on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Piper Sandler reissued an “overweight” rating and set a $116.00 price target (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Needham & Company LLC dropped their price objective on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Raymond James lifted their price target 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 equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company 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.