Fox Run Management L.L.C. Makes New Investment in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Fox Run Management L.L.C. acquired a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 9,070 shares of the medical instruments supplier’s stock, valued at approximately $877,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Merit Medical Systems by 70.1% in the 3rd quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock valued at $155,879,000 after buying an additional 649,799 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Merit Medical Systems in the 4th quarter valued at approximately $48,926,000. Bryn Mawr Capital Management LLC acquired a new stake in shares of Merit Medical Systems in the 4th quarter valued at approximately $36,057,000. Two Sigma Advisers LP raised its holdings in Merit Medical Systems by 218.9% during the third quarter. Two Sigma Advisers LP now owns 445,500 shares of the medical instruments supplier’s stock worth $44,029,000 after purchasing an additional 305,800 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Merit Medical Systems by 85.6% during the third quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier’s stock worth $56,921,000 after purchasing an additional 265,648 shares during the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on MMSI. Wells Fargo & Company reduced 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. 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 report on Wednesday, January 29th. Canaccord Genuity Group reduced their price objective on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Raymond James lifted their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 31st. Finally, Barrington Research reduced their price objective on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.78.

Merit Medical Systems Stock Performance

Merit Medical Systems stock opened at $101.68 on Friday. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 49.84, a PEG 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, Inc. has a fifty-two week low of $70.70 and a fifty-two week high of $111.45. The stock has a fifty day moving average of $103.93 and a two-hundred day moving average of $100.78.

Insider Activity

In other news, insider Brian G. Lloyd sold 30,000 shares of Merit Medical Systems stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $102.90, for a total value 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. The trade was a 43.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen C. Evans sold 5,000 shares of Merit Medical Systems stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $105.31, for a total value of $526,550.00. Following the completion of the sale, the director now directly owns 4,657 shares of the company’s stock, valued at approximately $490,428.67. This represents a 51.78 % decrease in their position. The disclosure for this sale can be found here. Insiders 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.

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.