Townsquare Capital LLC Boosts Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Townsquare Capital LLC raised its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,907 shares of the medical instruments supplier's stock after acquiring an additional 5,326 shares during the period. Townsquare Capital LLC owned about 0.06% of Merit Medical Systems worth $3,279,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MMSI. Barclays PLC increased its stake in Merit Medical Systems by 305.4% in the 3rd quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier's stock valued at $11,142,000 after buying an additional 84,923 shares during the last quarter. EULAV Asset Management boosted its position in Merit Medical Systems by 400.0% during the fourth quarter. EULAV Asset Management now owns 115,000 shares of the medical instruments supplier's stock worth $11,123,000 after purchasing an additional 92,000 shares during the period. Pictet Asset Management Holding SA raised its position in shares of Merit Medical Systems by 13.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,675 shares of the medical instruments supplier's stock valued at $839,000 after purchasing an additional 1,049 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Merit Medical Systems by 85.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier's stock valued at $56,921,000 after buying an additional 265,648 shares in the last quarter. Finally, AMI Asset Management Corp grew its stake in Merit Medical Systems by 28.7% in the 4th quarter. AMI Asset Management Corp now owns 33,041 shares of the medical instruments supplier's stock valued at $3,196,000 after buying an additional 7,367 shares in the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Trading Up 0.4 %

MMSI traded up $0.32 during midday trading on Friday, reaching $90.89. 627,778 shares of the company's stock traded hands, compared to its average volume of 485,738. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 44.55, a P/E/G ratio of 2.34 and a beta of 0.85. Merit Medical Systems, Inc. has a 52 week low of $71.57 and a 52 week high of $111.45. The firm has a fifty day moving average of $100.15 and a two-hundred day moving average of $100.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

Analyst Upgrades and Downgrades

MMSI has been the subject of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on Merit Medical Systems in a report on Friday, March 28th. They issued an "overweight" rating and a $120.00 price target for the company. Raymond James raised their price target on Merit Medical Systems from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Tuesday, December 31st. Canaccord Genuity Group reduced their target price on shares of Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Needham & Company LLC restated a "buy" rating and set a $116.00 price target on shares of Merit Medical Systems in a research report on Wednesday, April 9th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Two research 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $114.33.

Insider Activity at Merit Medical Systems

In related news, CFO Raul Jr. Parra sold 12,451 shares of the stock in a transaction dated 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 of the company's stock, valued at $2,391,300.81. This represents a 33.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian G. Lloyd sold 30,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was 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 owns 38,945 shares of the company's stock, valued at $4,007,440.50. This trade represents a 43.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,132 shares of company stock worth $11,139,521 over the last quarter. 3.70% of the stock is owned by corporate insiders.

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.