Premier Fund Managers Ltd Sells 8,980 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Premier Fund Managers Ltd decreased its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 95.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 461 shares of the medical instruments supplier’s stock after selling 8,980 shares during the period. Premier Fund Managers Ltd’s holdings in Merit Medical Systems were worth $44,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Louisiana State Employees Retirement System grew its position in Merit Medical Systems by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier’s stock worth $2,728,000 after purchasing an additional 100 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Merit Medical Systems by 4.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,347 shares of the medical instruments supplier’s stock valued at $227,000 after buying an additional 103 shares during the period. Tidal Investments LLC grew its position in Merit Medical Systems by 1.0% during the third quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier’s stock worth $1,028,000 after buying an additional 104 shares in the last quarter. Arizona State Retirement System increased its stake in Merit Medical Systems by 0.8% during the fourth quarter. Arizona State Retirement System now owns 16,869 shares of the medical instruments supplier’s stock valued at $1,632,000 after acquiring an additional 137 shares during the period. Finally, Glenmede Trust Co. NA raised its holdings in Merit Medical Systems by 0.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier’s stock valued at $2,830,000 after acquiring an additional 170 shares in the last quarter. Institutional investors own 99.66% of the company’s stock.

Insider Transactions at Merit Medical Systems

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 value of $2,487,500.00. Following the completion of the sale, the insider now directly 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 available 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 transaction, the chief financial officer now owns 24,201 shares in the company, valued at approximately $2,391,300.81. This trade 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 three months. 3.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MMSI. Canaccord Genuity Group decreased their price objective on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Raymond James lifted their price target 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. Wells Fargo & Company dropped their price objective on shares of 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. Needham & Company LLC decreased their target price on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Merit Medical Systems in a research note on Friday. They issued an “overweight” rating and a $120.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.70.

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock opened at $103.94 on Friday. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 50.95, a P/E/G ratio of 2.34 and a beta of 0.91. The firm’s 50-day moving average price is $104.30 and its two-hundred day moving average price is $101.00. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 1-year low of $70.70 and a 1-year high of $111.45.

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.