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

Quantbot Technologies LP cut its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 68.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,765 shares of the medical instruments supplier’s stock after selling 17,206 shares during the period. Quantbot Technologies LP’s holdings in Merit Medical Systems were worth $751,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Barclays PLC lifted its holdings in Merit Medical Systems by 305.4% during the third quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier’s stock worth $11,142,000 after buying an additional 84,923 shares during the period. EULAV Asset Management raised its position in shares of Merit Medical Systems by 400.0% in the 4th quarter. EULAV Asset Management now owns 115,000 shares of the medical instruments supplier’s stock worth $11,123,000 after acquiring an additional 92,000 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Merit Medical Systems by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 221,690 shares of the medical instruments supplier’s stock worth $21,910,000 after purchasing an additional 6,837 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Merit Medical Systems by 85.6% during the third 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. Finally, AMI Asset Management Corp grew its stake in Merit Medical Systems by 28.7% in the fourth quarter. AMI Asset Management Corp now owns 33,041 shares of the medical instruments supplier’s stock valued at $3,196,000 after purchasing an additional 7,367 shares during the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Fred P. Lampropoulos sold 31,320 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total value of $3,252,895.20. Following the sale, the chief executive officer now directly owns 1,086,028 shares of the company’s stock, valued at $112,794,868.08. This represents a 2.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian G. Lloyd sold 30,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $102.90, for a total transaction of $3,087,000.00. Following the transaction, the insider now directly owns 38,945 shares of the company’s stock, valued at approximately $4,007,440.50. This trade represents a 43.51 % decrease in their position. 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. Company insiders own 3.70% of the company’s stock.

Merit Medical Systems Price Performance

NASDAQ MMSI opened at $103.70 on Thursday. The stock’s fifty day moving average price is $104.25 and its 200 day moving average price is $100.94. Merit Medical Systems, Inc. has a 1 year low of $70.70 and a 1 year high of $111.45. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 50.83, a PEG ratio of 2.34 and a beta of 0.91.

Wall Street Analysts Forecast Growth

MMSI has been the subject of several analyst reports. Piper Sandler reissued an “overweight” rating and set a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Barrington Research decreased their target price on shares of 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. Needham & Company LLC cut their price target on shares of 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 reduced their price target 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. Finally, Raymond James raised their price objective 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 analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.78.

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.