Groupama Asset Managment Invests $38.69 Million in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Groupama Asset Managment bought a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the 4th quarter, HoldingsChannel reports. The firm bought 400,000 shares of the medical instruments supplier’s stock, valued at approximately $38,688,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NewSquare Capital LLC acquired a new stake in Merit Medical Systems in the fourth quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Merit Medical Systems during the 4th quarter valued at $52,000. Smartleaf Asset Management LLC grew its holdings in Merit Medical Systems by 237.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock valued at $134,000 after purchasing an additional 977 shares in the last quarter. GAMMA Investing LLC increased its stake in Merit Medical Systems by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock worth $144,000 after buying an additional 191 shares during the period. Finally, TD Private Client Wealth LLC lifted its holdings in Merit Medical Systems by 13.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,732 shares of the medical instruments supplier’s stock worth $171,000 after buying an additional 211 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Merit Medical Systems news, CEO Fred P. Lampropoulos sold 31,320 shares of Merit Medical Systems 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 transaction, the chief executive officer now directly owns 1,086,028 shares in the company, valued at $112,794,868.08. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian G. Lloyd sold 25,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 38,993 shares of the company’s stock, valued at $3,879,803.50. This trade represents a 39.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,132 shares of company stock valued at $11,139,521. Company insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MMSI. Needham & Company LLC lowered their target price on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. began coverage on Merit Medical Systems in a research note on Friday. They set an “overweight” rating and a $120.00 price objective for the company. Piper Sandler restated 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. Wells Fargo & Company reduced their target price on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Raymond James lifted their price target on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 31st. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $111.70.

Merit Medical Systems Stock Performance

MMSI stock opened at $105.71 on Tuesday. The firm has a market cap of $6.22 billion, a P/E ratio of 51.82, a P/E/G ratio of 2.34 and a beta of 0.91. The stock’s 50 day simple moving average is $104.36 and its 200 day simple moving average is $101.13. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 12-month low of $70.70 and a 12-month high of $111.45.

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.