Merit Medical Systems, Inc. (NASDAQ:MMSI) Stock Position Lifted by Townsquare Capital LLC

Townsquare Capital LLC lifted its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,907 shares of the medical instruments supplier’s stock after purchasing an additional 5,326 shares during the quarter. Townsquare Capital LLC owned about 0.06% of Merit Medical Systems worth $3,279,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in MMSI. NewSquare Capital LLC acquired a new stake in shares of Merit Medical Systems during the fourth quarter worth $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Merit Medical Systems in the fourth quarter worth $52,000. Federated Hermes Inc. raised its holdings in shares of Merit Medical Systems by 139.1% during the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock worth $63,000 after acquiring an additional 381 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in 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 valued at $134,000 after purchasing an additional 977 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Merit Medical Systems by 14.7% in the fourth quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock valued at $144,000 after purchasing an additional 191 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Price Performance

Shares of MMSI stock opened at $93.25 on Tuesday. The stock’s fifty day simple moving average is $101.60 and its 200 day simple moving average is $100.85. Merit Medical Systems, Inc. has a one year low of $70.70 and a one year high of $111.45. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 45.71, a P/E/G ratio of 2.34 and a beta of 0.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

Insider Activity

In other Merit Medical Systems news, Director Stephen C. Evans sold 5,000 shares of Merit Medical Systems stock in a transaction 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 completion of the transaction, the director now owns 4,657 shares in the company, 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 SEC, which can be accessed through this hyperlink. Also, CFO Raul Jr. Parra sold 12,451 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 24,201 shares of the company’s stock, valued at approximately $2,391,300.81. This trade represents a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,132 shares of company stock worth $11,139,521. Insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

MMSI has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $116.00 price objective on shares of Merit Medical Systems in a research report on Wednesday, April 9th. JPMorgan Chase & Co. began coverage on shares of Merit Medical Systems in a research note on Friday, March 28th. They issued an “overweight” rating and a $120.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of 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. Canaccord Genuity Group reduced their price target on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Raymond James increased their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 31st. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.33.

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.