Xponance Inc. Boosts Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Xponance Inc. raised its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 19.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,475 shares of the medical instruments supplier’s stock after purchasing an additional 719 shares during the period. Xponance Inc.’s holdings in Merit Medical Systems were worth $433,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. FMR LLC lifted its stake in shares of Merit Medical Systems by 70.1% during the third 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 during the period. Raymond James Financial Inc. purchased a new position in shares of Merit Medical Systems during the 4th quarter worth $48,926,000. Bryn Mawr Capital Management LLC acquired a new stake in shares of Merit Medical Systems during the fourth quarter worth $36,057,000. Two Sigma Advisers LP increased its stake in Merit Medical Systems by 218.9% in the third 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. lifted 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 worth $56,921,000 after buying an additional 265,648 shares during the period. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Stock Down 1.0 %

Shares of NASDAQ:MMSI opened at $103.70 on Thursday. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 50.83, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91. The company has a 50 day moving average of $104.25 and a two-hundred day moving average of $100.94. Merit Medical Systems, Inc. has a 52-week low of $70.70 and a 52-week 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.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Canaccord Genuity Group dropped their price objective on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company lowered 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. Raymond James increased their target price 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. Piper Sandler reissued an “overweight” rating and set a $116.00 price target (up previously from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Finally, Barrington Research reduced their price objective on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Two investment 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.78.

Insider Activity

In related news, Director Stephen C. Evans sold 5,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $490,428.67. This represents a 51.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Raul Jr. Parra sold 12,451 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 24,201 shares in the company, valued at approximately $2,391,300.81. The trade was 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 sold 109,132 shares of company stock worth $11,139,521. 3.70% of the stock is currently owned by company insiders.

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.