Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Purchased by MetLife Investment Management LLC

MetLife Investment Management LLC raised its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,585 shares of the medical instruments supplier’s stock after acquiring an additional 1,557 shares during the period. MetLife Investment Management LLC owned approximately 0.06% of Merit Medical Systems worth $3,345,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. NewSquare Capital LLC bought a new stake in shares of Merit Medical Systems during the fourth quarter valued at about $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Merit Medical Systems in the 4th quarter worth approximately $52,000. Federated Hermes Inc. lifted its stake in shares of Merit Medical Systems by 139.1% in the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock worth $63,000 after acquiring an additional 381 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Merit Medical Systems by 237.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock valued at $134,000 after acquiring an additional 977 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Merit Medical Systems by 14.7% during the 4th 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. Institutional investors and hedge funds own 99.66% of the company’s stock.

Insider Activity

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 12,451 shares of Merit Medical Systems stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the transaction, the chief financial officer now owns 24,201 shares of the company’s stock, valued at $2,391,300.81. The trade was a 33.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $103.86, for a total transaction of $3,252,895.20. Following the completion of 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 trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,132 shares of company stock worth $11,139,521. 3.70% of the stock is owned by corporate insiders.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $94.61 on Friday. The company’s fifty day moving average is $98.60 and its two-hundred day moving average is $100.55. The company has a market cap of $5.59 billion, a P/E ratio of 46.38, a price-to-earnings-growth ratio of 2.34 and a beta of 0.85. Merit Medical Systems, Inc. has a 12-month low of $73.67 and a 12-month high of $111.45. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company dropped their price objective on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Canaccord Genuity Group reduced their price objective on shares of Merit Medical Systems from $127.00 to $108.00 and set a “buy” rating for the company in a research report on Friday. Needham & Company LLC dropped their target price on shares of Merit Medical Systems from $116.00 to $100.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. assumed coverage on shares of Merit Medical Systems in a report on Friday, March 28th. They set an “overweight” rating and a $120.00 target price for the company. Finally, Piper Sandler dropped their price target on Merit Medical Systems from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $109.00.

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.