Congress Wealth Management LLC DE Acquires 3,188 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Congress Wealth Management LLC DE raised its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 91,214 shares of the medical instruments supplier’s stock after purchasing an additional 3,188 shares during the period. Congress Wealth Management LLC DE’s holdings in Merit Medical Systems were worth $8,822,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. FMR LLC increased its position in Merit Medical Systems by 70.1% during the 3rd quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock valued at $155,879,000 after buying an additional 649,799 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Merit Medical Systems in the 4th quarter worth about $48,926,000. Bryn Mawr Capital Management LLC bought a new position in Merit Medical Systems in the 4th quarter worth about $36,057,000. Two Sigma Advisers LP grew its position in Merit Medical Systems by 218.9% during the 3rd quarter. Two Sigma Advisers LP now owns 445,500 shares of the medical instruments supplier’s stock valued at $44,029,000 after purchasing an additional 305,800 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Merit Medical Systems by 85.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier’s stock valued at $56,921,000 after purchasing an additional 265,648 shares in the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Brian G. Lloyd sold 25,000 shares of Merit Medical Systems stock in a transaction 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 transaction, the insider now owns 38,993 shares in the company, valued at $3,879,803.50. This trade represents a 39.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Raul Jr. Parra sold 12,451 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 24,201 shares of the company’s stock, valued at $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 three months, insiders have sold 109,132 shares of company stock valued at $11,139,521. Insiders own 3.70% of the company’s stock.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $104.68 on Tuesday. The firm has a market capitalization of $6.16 billion, a P/E ratio of 51.31, a PEG ratio of 2.34 and a beta of 0.91. 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 one year low of $70.70 and a one year high of $111.45. The business has a fifty day moving average of $104.11 and a 200 day moving average of $100.87.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MMSI. Needham & Company LLC dropped 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 note on Wednesday, February 26th. Canaccord Genuity Group lowered their price objective on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Barrington Research reduced their target price 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. Raymond James boosted their price target 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. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Two 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.78.

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.