Norden Group LLC Buys Shares of 2,249 Merit Medical Systems, Inc. (NASDAQ:MMSI)

Norden Group LLC purchased a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) during the 4th quarter, Holdings Channel reports. The fund purchased 2,249 shares of the medical instruments supplier’s stock, valued at approximately $218,000.

A number of other institutional investors also recently bought and sold shares of the stock. State Street Corp grew its stake in shares of Merit Medical Systems by 0.7% during the 3rd quarter. State Street Corp now owns 2,231,701 shares of the medical instruments supplier’s stock valued at $220,559,000 after acquiring an additional 15,098 shares during the period. FMR LLC boosted its holdings 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 worth $155,879,000 after buying an additional 649,799 shares during the period. Geode Capital Management LLC raised its holdings in Merit Medical Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,357,265 shares of the medical instruments supplier’s stock valued at $134,165,000 after acquiring an additional 17,490 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Merit Medical Systems by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 727,340 shares of the medical instruments supplier’s stock valued at $71,883,000 after acquiring an additional 54,122 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Merit Medical Systems by 0.5% in the third quarter. Rockefeller Capital Management L.P. now owns 641,705 shares of the medical instruments supplier’s stock valued at $63,406,000 after acquiring an additional 3,068 shares in the last quarter. 99.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on MMSI shares. Raymond James lifted their target price on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 31st. Barrington Research lowered their target price on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Piper Sandler reaffirmed an “overweight” rating and set a $116.00 target price (up from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Needham & Company LLC decreased their price target 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. 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 investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.78.

Merit Medical Systems Stock Performance

Merit Medical Systems stock opened at $101.89 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The company has a market capitalization of $5.99 billion, a PE ratio of 49.95, a P/E/G ratio of 2.34 and a beta of 0.87. The company has a 50 day moving average price of $103.09 and a 200-day moving average price of $100.26. Merit Medical Systems, Inc. has a fifty-two week low of $70.70 and a fifty-two week high of $111.45.

Insiders Place Their Bets

In other news, insider Brian G. Lloyd sold 25,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the transaction, 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 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 stock was sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the completion of the sale, the chief financial officer now directly owns 24,201 shares of the company’s stock, valued at approximately $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 have sold 42,451 shares of company stock worth $4,244,333 in the last ninety days. 3.70% of the stock is owned by company insiders.

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.