Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC decreased its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 12.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,272,300 shares of the medical instruments supplier's stock after selling 183,178 shares during the quarter. Merit Medical Systems makes up 1.7% of ArrowMark Colorado Holdings LLC's holdings, making the stock its 11th biggest position. ArrowMark Colorado Holdings LLC owned about 2.18% of Merit Medical Systems worth $123,057,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Freestone Grove Partners LP purchased a new position in shares of Merit Medical Systems in the fourth quarter worth about $283,000. Comerica Bank raised its holdings in Merit Medical Systems by 4.4% in the 4th quarter. Comerica Bank now owns 211,500 shares of the medical instruments supplier's stock valued at $20,456,000 after acquiring an additional 8,987 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in Merit Medical Systems in the 4th quarter worth approximately $199,000. Lido Advisors LLC boosted its holdings in shares of Merit Medical Systems by 33.4% during the 4th quarter. Lido Advisors LLC now owns 3,617 shares of the medical instruments supplier's stock worth $350,000 after purchasing an additional 906 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Merit Medical Systems by 12.8% during the 4th quarter. Northern Trust Corp now owns 750,936 shares of the medical instruments supplier's stock worth $72,631,000 after purchasing an additional 85,483 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company's stock.

Insider Buying and Selling at Merit Medical Systems

In other news, insider Brian G. Lloyd sold 25,000 shares of Merit Medical Systems stock in a transaction dated Friday, February 28th. The stock was 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 owns 38,993 shares in the company, valued at approximately $3,879,803.50. This trade represents a 39.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Raul Jr. Parra sold 12,451 shares of the company's stock in a transaction that occurred on 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 sale, the chief financial officer now owns 24,201 shares in the company, valued at $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. Insiders sold 109,132 shares of company stock valued at $11,139,521 in the last 90 days. Company insiders own 3.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on MMSI shares. Canaccord Genuity Group cut their price target on Merit Medical Systems from $127.00 to $108.00 and set a "buy" rating for the company in a report on Friday, April 25th. Robert W. Baird lowered their price target on shares of Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. began coverage on shares of Merit Medical Systems in a report on Friday, March 28th. They issued an "overweight" rating and a $120.00 price objective for the company. Wells Fargo & Company set a $106.00 target price on shares of Merit Medical Systems and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, Piper Sandler dropped their price target on shares of Merit Medical Systems from $116.00 to $112.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $107.78.

Merit Medical Systems Trading Down 1.1 %

Shares of MMSI traded down $1.08 during midday trading on Tuesday, hitting $92.87. 646,975 shares of the stock were exchanged, compared to its average volume of 503,830. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The firm has a market cap of $5.49 billion, a P/E ratio of 45.52, a P/E/G ratio of 2.34 and a beta of 0.70. Merit Medical Systems, Inc. has a 52-week low of $78.89 and a 52-week high of $111.45. The stock has a fifty day simple moving average of $97.53 and a 200 day simple moving average of $100.56.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.11. The company had revenue of $355.35 million for the quarter, compared to analyst estimates of $352.57 million. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 earnings per share. On average, research analysts anticipate that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

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.