2,075 Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI) Bought by Longboard Asset Management LP

Longboard Asset Management LP purchased a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,075 shares of the medical instruments supplier’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. USA Financial Formulas bought a new stake in shares of Merit Medical Systems in the third quarter worth $59,000. Farther Finance Advisors LLC increased 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 worth $104,000 after buying an additional 260 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Merit Medical Systems in the third quarter worth $120,000. GAMMA Investing LLC increased its stake in shares of Merit Medical Systems by 56.8% in the third quarter. GAMMA Investing LLC now owns 1,303 shares of the medical instruments supplier’s stock worth $129,000 after buying an additional 472 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its stake in shares of Merit Medical Systems by 13.9% in the third quarter. TD Private Client Wealth LLC now owns 1,732 shares of the medical instruments supplier’s stock worth $171,000 after buying an additional 211 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MMSI. Barrington Research lifted their price objective on shares of Merit Medical Systems from $114.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Raymond James lifted their price objective on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 31st. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Needham & Company LLC lifted their price objective on shares of Merit Medical Systems from $109.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company raised shares of Merit Medical Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $103.00 to $120.00 in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $109.80.

Insider Buying and Selling

In related news, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the completion of the sale, the director now owns 32,391 shares of the company’s stock, valued at $3,289,306.05. This represents a 27.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Merit Medical Systems Stock Performance

MMSI stock opened at $108.01 on Wednesday. The company has a market capitalization of $6.29 billion, a P/E ratio of 52.95, a PEG ratio of 2.41 and a beta of 0.87. The company has a 50-day simple moving average of $101.58 and a 200 day simple moving average of $97.60. Merit Medical Systems, Inc. has a fifty-two week low of $70.70 and a fifty-two week high of $111.45. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

About Merit Medical Systems

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.