Amundi Purchases 11,548 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Amundi boosted its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 9.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 129,933 shares of the medical instruments supplier’s stock after purchasing an additional 11,548 shares during the period. Amundi’s holdings in Merit Medical Systems were worth $12,752,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in Merit Medical Systems by 21.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 16,336 shares of the medical instruments supplier’s stock valued at $1,580,000 after purchasing an additional 2,912 shares during the last quarter. Edgestream Partners L.P. boosted its stake in shares of Merit Medical Systems by 654.3% in the 4th quarter. Edgestream Partners L.P. now owns 67,116 shares of the medical instruments supplier’s stock worth $6,491,000 after buying an additional 58,218 shares during the last quarter. Inceptionr LLC purchased a new position in shares of Merit Medical Systems in the 4th quarter worth $1,515,000. Raymond James Financial Inc. purchased a new position in shares of Merit Medical Systems in the 4th quarter worth $48,926,000. Finally, Arizona State Retirement System boosted its stake in shares of Merit Medical Systems by 0.8% in the 4th quarter. Arizona State Retirement System now owns 16,869 shares of the medical instruments supplier’s stock worth $1,632,000 after buying an additional 137 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

NASDAQ:MMSI opened at $98.94 on Friday. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The business’s 50-day simple moving average is $103.52 and its two-hundred day simple moving average is $100.57. The stock has a market cap of $5.82 billion, a PE ratio of 48.50, a P/E/G ratio of 2.34 and a beta of 0.91. Merit Medical Systems, Inc. has a 52 week low of $70.70 and a 52 week high of $111.45.

Insider Buying and Selling at Merit Medical Systems

In related news, CEO Fred P. Lampropoulos sold 31,320 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 1,086,028 shares in the company, valued at approximately $112,794,868.08. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen C. Evans sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the completion of the transaction, the director now directly owns 4,657 shares of the company’s stock, valued at $490,428.67. This trade represents a 51.78 % decrease in their position. 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 ninety days. 3.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MMSI shares. Piper Sandler reiterated an “overweight” rating and set a $116.00 target price (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Barrington Research lowered their target price on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Canaccord Genuity Group lowered their target price on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their target price on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Needham & Company LLC lowered their target price on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Merit Medical Systems currently has an average rating of “Moderate Buy” and an average price target of $110.78.

About Merit Medical Systems

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.