334 Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI) Purchased by NewSquare Capital LLC

NewSquare Capital LLC purchased a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 334 shares of the medical instruments supplier’s stock, valued at approximately $32,000.

Several other hedge funds have also added to or reduced their stakes in MMSI. Victory Capital Management Inc. raised its position in shares of Merit Medical Systems by 32.1% in the fourth quarter. Victory Capital Management Inc. now owns 78,171 shares of the medical instruments supplier’s stock valued at $7,561,000 after purchasing an additional 19,001 shares during the period. Westover Capital Advisors LLC acquired a new position in Merit Medical Systems in the 4th quarter valued at about $634,000. Charles Schwab Investment Management Inc. raised its holdings in Merit Medical Systems by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 748,561 shares of the medical instruments supplier’s stock valued at $72,401,000 after acquiring an additional 21,221 shares during the period. Norden Group LLC acquired a new stake in Merit Medical Systems during the fourth quarter worth approximately $218,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Merit Medical Systems during the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MMSI shares. Barrington Research dropped their price target 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. Piper Sandler reissued an “overweight” rating and set a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Canaccord Genuity Group decreased their price target on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. 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. Finally, Needham & Company LLC cut their price objective on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a 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 given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.78.

Merit Medical Systems Stock Performance

Shares of NASDAQ:MMSI opened at $104.85 on Thursday. The company’s 50 day simple moving average is $103.23 and its 200 day simple moving average is $100.29. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. Merit Medical Systems, Inc. has a 1 year low of $70.70 and a 1 year high of $111.45. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 51.40, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87.

Insider Activity

In other Merit Medical Systems news, 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 value of $1,230,283.31. Following the completion of the transaction, the chief financial officer now owns 24,201 shares of the company’s stock, valued at $2,391,300.81. This represents a 33.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian G. Lloyd sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the completion of the transaction, the insider now owns 38,993 shares of the company’s stock, valued at approximately $3,879,803.50. This trade represents a 39.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,451 shares of company stock worth $4,244,333. Insiders own 3.70% of the company’s stock.

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.