Quantbot Technologies LP Sells 17,206 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Quantbot Technologies LP lowered its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 68.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,765 shares of the medical instruments supplier’s stock after selling 17,206 shares during the quarter. Quantbot Technologies LP’s holdings in Merit Medical Systems were worth $751,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewSquare Capital LLC purchased a new stake in Merit Medical Systems during the 4th quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Merit Medical Systems during the fourth quarter worth $52,000. Harvest Fund Management Co. Ltd purchased a new position in Merit Medical Systems during the third quarter valued at $120,000. Smartleaf Asset Management LLC increased its holdings in Merit Medical Systems by 237.7% in 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 last quarter. Finally, GAMMA Investing LLC lifted its stake in Merit Medical Systems by 14.7% in the 4th quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock worth $144,000 after purchasing an additional 191 shares in the last quarter. Institutional investors own 99.66% of the company’s stock.

Analysts Set New Price Targets

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

Merit Medical Systems Stock Down 1.0 %

Shares of MMSI opened at $103.70 on Thursday. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 52-week low of $70.70 and a 52-week high of $111.45. The company has a market cap of $6.10 billion, a PE ratio of 50.83, a P/E/G ratio of 2.34 and a beta of 0.91. The business has a fifty day moving average of $104.25 and a 200 day moving average of $100.94.

Insider Buying and Selling

In related news, CEO Fred P. Lampropoulos sold 31,320 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 1,086,028 shares in the company, valued at $112,794,868.08. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian G. Lloyd sold 30,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $102.90, for a total value of $3,087,000.00. Following the completion of the sale, the insider now owns 38,945 shares in the company, valued at approximately $4,007,440.50. The trade was a 43.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,132 shares of company stock valued at $11,139,521. Company insiders own 3.70% of the company’s stock.

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.