Magnetar Financial LLC Acquires New Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Magnetar Financial LLC acquired a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,062 shares of the medical instruments supplier’s stock, valued at approximately $780,000.

Several other hedge funds also recently bought and sold shares of MMSI. Natixis Advisors LLC grew its stake in Merit Medical Systems by 1.5% during the third quarter. Natixis Advisors LLC now owns 67,544 shares of the medical instruments supplier’s stock valued at $6,675,000 after acquiring an additional 1,009 shares in the last quarter. Pathstone Holdings LLC grew its stake in Merit Medical Systems by 20.1% during the third quarter. Pathstone Holdings LLC now owns 34,950 shares of the medical instruments supplier’s stock valued at $3,454,000 after acquiring an additional 5,844 shares in the last quarter. Jennison Associates LLC purchased a new position in Merit Medical Systems during the third quarter valued at approximately $935,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Merit Medical Systems by 216.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,064 shares of the medical instruments supplier’s stock worth $995,000 after purchasing an additional 6,887 shares in the last quarter. Finally, King Luther Capital Management Corp purchased a new position in shares of Merit Medical Systems during the third quarter worth about $5,462,000. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Insiders Place Their Bets

In related news, Director Stephen C. Evans sold 5,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the transaction, the director now owns 4,657 shares in the company, valued at $490,428.67. The trade was a 51.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Raul Jr. Parra sold 12,451 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 24,201 shares in the company, valued at approximately $2,391,300.81. This represents a 33.97 % decrease in their position. 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 ninety days. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Raymond James boosted their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 31st. Piper Sandler reissued an “overweight” rating and set a $116.00 price objective (up previously from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Barrington Research cut their price objective on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Canaccord Genuity Group reduced their price objective on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their target price on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Two equities research 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 stock. Based on data from MarketBeat.com, Merit Medical Systems presently has an average rating of “Moderate Buy” and an average price target of $110.78.

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock opened at $101.68 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The business’s 50 day simple moving average is $103.93 and its two-hundred day simple moving average is $100.75. The stock has a market capitalization of $5.98 billion, a P/E ratio of 49.84, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91. Merit Medical Systems, Inc. has a one year low of $70.70 and a one year high of $111.45.

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.