Groupama Asset Managment Buys Shares of 400,000 Merit Medical Systems, Inc. (NASDAQ:MMSI)

Groupama Asset Managment purchased a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 400,000 shares of the medical instruments supplier’s stock, valued at approximately $38,688,000. Groupama Asset Managment owned about 0.69% of Merit Medical Systems as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MMSI. Dynamic Technology Lab Private Ltd purchased a new position in Merit Medical Systems during the 3rd quarter valued at about $228,000. FMR LLC grew its position in shares of Merit Medical Systems by 70.1% in the third quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock valued at $155,879,000 after purchasing an additional 649,799 shares during the last quarter. CreativeOne Wealth LLC increased its stake in shares of Merit Medical Systems by 32.6% during the 3rd quarter. CreativeOne Wealth LLC now owns 5,320 shares of the medical instruments supplier’s stock worth $526,000 after purchasing an additional 1,307 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Merit Medical Systems by 2.6% during the 3rd quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier’s stock worth $735,000 after purchasing an additional 187 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Merit Medical Systems in the 3rd quarter valued at approximately $1,497,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Fred P. Lampropoulos sold 31,320 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $103.86, for a total value of $3,252,895.20. Following the transaction, the chief executive officer now directly owns 1,086,028 shares in the company, valued at $112,794,868.08. This trade represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian G. Lloyd sold 25,000 shares of Merit Medical Systems stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $99.50, for a total value of $2,487,500.00. Following the completion of the transaction, the insider now directly owns 38,993 shares in the company, valued at $3,879,803.50. This represents a 39.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,132 shares of company stock valued at $11,139,521 over the last quarter. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. 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. Barrington Research dropped their price objective on 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 reduced 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 report on Wednesday, February 26th. Canaccord Genuity Group lowered their price target on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. began coverage on shares of Merit Medical Systems in a research report on Friday. They issued an “overweight” rating and a $120.00 price objective for the company. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Merit Medical Systems has an average rating of “Moderate Buy” and an average price target of $111.70.

Merit Medical Systems Price Performance

MMSI opened at $105.71 on Tuesday. Merit Medical Systems, Inc. has a 1 year low of $70.70 and a 1 year high of $111.45. The company’s 50 day simple moving average is $104.36 and its 200 day simple moving average is $101.13. The stock has a market capitalization of $6.22 billion, a PE ratio of 51.82, a P/E/G ratio of 2.34 and a beta of 0.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36.

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.