Inceptionr LLC Purchases Shares of 15,660 Merit Medical Systems, Inc. (NASDAQ:MMSI)

Inceptionr LLC purchased a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,660 shares of the medical instruments supplier’s stock, valued at approximately $1,515,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MMSI. NewSquare Capital LLC acquired a new stake in Merit Medical Systems in the fourth quarter valued at $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Merit Medical Systems during the fourth quarter worth about $52,000. Farther Finance Advisors LLC increased its position in shares of Merit Medical Systems by 32.7% during the third 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 acquired a new stake in shares of Merit Medical Systems during the third quarter worth about $120,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Merit Medical Systems by 237.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock worth $134,000 after purchasing an additional 977 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Needham & Company LLC cut their target price on 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. Wells Fargo & Company cut their target price on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Barrington Research cut their target price on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler reiterated 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, Raymond James lifted their target price on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 31st. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.78.

Merit Medical Systems Stock Performance

Shares of MMSI stock opened at $104.85 on Thursday. The stock has a market capitalization of $6.17 billion, a PE ratio of 51.40, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. Merit Medical Systems, Inc. has a 52-week low of $70.70 and a 52-week high of $111.45. The stock’s 50-day moving average price is $103.23 and its 200 day moving average price is $100.29. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, Director Stephen C. Evans sold 5,000 shares of Merit Medical Systems stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $105.31, for a total value of $526,550.00. Following the sale, the director now owns 4,657 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, insider Brian G. Lloyd sold 25,000 shares of Merit Medical Systems stock in a transaction that occurred on Friday, February 28th. The shares were 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 $3,879,803.50. This represents a 39.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,451 shares of company stock valued at $4,244,333. 3.70% of the stock is owned by corporate insiders.

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.