Sei Investments Co. Sells 13,981 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Sei Investments Co. trimmed its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 6.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 187,320 shares of the medical instruments supplier’s stock after selling 13,981 shares during the quarter. Sei Investments Co. owned 0.32% of Merit Medical Systems worth $18,117,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MMSI. NewSquare Capital LLC purchased a new stake in shares of Merit Medical Systems during the 4th quarter valued at $32,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Merit Medical Systems during the fourth quarter worth about $52,000. Harvest Fund Management Co. Ltd bought a new stake in Merit Medical Systems in the third quarter worth about $120,000. Smartleaf Asset Management LLC boosted its stake in 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 during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of 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 acquiring an additional 191 shares during the period. 99.66% of the stock is currently owned by institutional investors.

Insider Activity

In other Merit Medical Systems news, insider Brian G. Lloyd sold 30,000 shares of Merit Medical Systems stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $102.90, for a total transaction of $3,087,000.00. Following the completion of the sale, the insider now directly owns 38,945 shares in the company, valued at $4,007,440.50. The trade was a 43.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 1,086,028 shares in the company, valued at $112,794,868.08. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,132 shares of company stock worth $11,139,521 in the last three months. Corporate insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Barrington Research lowered their price target on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Piper Sandler reaffirmed 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. Wells Fargo & Company decreased their price objective on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Needham & Company LLC dropped their price objective 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. Finally, Raymond James lifted their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 31st. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.78.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $103.27 on Friday. The company has a 50 day moving average of $104.28 and a 200 day moving average of $100.96. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The stock has a market cap of $6.08 billion, a P/E ratio of 50.62, a P/E/G ratio of 2.34 and a beta of 0.91. Merit Medical Systems, Inc. has a 12 month low of $70.70 and a 12 month high of $111.45.

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.