Channing Capital Management LLC Has $65.94 Million Stake in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Channing Capital Management LLC lessened its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 681,794 shares of the medical instruments supplier’s stock after selling 14,815 shares during the quarter. Channing Capital Management LLC owned approximately 1.17% of Merit Medical Systems worth $65,943,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. NewSquare Capital LLC bought a new stake in Merit Medical Systems during the fourth quarter worth about $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Merit Medical Systems during the fourth quarter worth $52,000. Farther Finance Advisors LLC raised its stake in Merit Medical Systems by 32.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after purchasing an additional 260 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Merit Medical Systems in the third quarter valued at approximately $120,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Merit Medical Systems by 237.7% during 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 during the period. Institutional investors own 99.66% of the company’s stock.

Insiders Place Their Bets

In other Merit Medical Systems 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 value of $2,487,500.00. Following the completion of the sale, the insider now directly owns 38,993 shares of the company’s stock, valued at $3,879,803.50. This trade represents a 39.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $103.86, for a total transaction of $3,252,895.20. Following the transaction, the chief executive officer now owns 1,086,028 shares of the company’s stock, valued at $112,794,868.08. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,132 shares of company stock valued at $11,139,521. Insiders own 3.70% of the company’s stock.

Merit Medical Systems Price Performance

Merit Medical Systems stock opened at $97.11 on Tuesday. Merit Medical Systems, Inc. has a 52 week low of $70.70 and a 52 week high of $111.45. The company’s 50 day moving average price is $103.36 and its two-hundred day moving average price is $100.52. The stock has a market cap of $5.71 billion, a P/E ratio of 47.60, a P/E/G ratio of 2.34 and a beta of 0.91. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MMSI. Wells Fargo & Company cut their price target 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. Canaccord Genuity Group cut their price target on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Raymond James boosted their price objective on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 31st. Piper Sandler reissued an “overweight” rating and set a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Finally, Needham & Company LLC decreased their price target on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.78.

Merit Medical Systems 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.