NewSquare Capital LLC Invests $32,000 in Merit Medical Systems, Inc. (NASDAQ:MMSI)

NewSquare Capital LLC acquired a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 334 shares of the medical instruments supplier’s stock, valued at approximately $32,000.

A number of other hedge funds have also recently bought and sold shares of MMSI. Kohmann Bosshard Financial Services LLC bought a new position in Merit Medical Systems in the fourth quarter valued at about $52,000. Farther Finance Advisors LLC grew its position in shares of Merit Medical Systems by 32.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after buying an additional 260 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Merit Medical Systems in the third quarter valued at approximately $120,000. Smartleaf Asset Management LLC boosted its stake in Merit Medical Systems by 237.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock valued at $134,000 after acquiring an additional 977 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings 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 acquiring an additional 191 shares during the period. 99.66% of the stock is currently owned by institutional investors.

Insider Transactions at Merit Medical Systems

In other news, Director Stephen C. Evans sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $105.31, for a total value of $526,550.00. Following the completion of the transaction, the director now owns 4,657 shares in the company, valued at $490,428.67. This trade represents a 51.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Raul Jr. Parra sold 12,451 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 24,201 shares of the company’s stock, valued at $2,391,300.81. This trade represents a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,451 shares of company stock valued at $4,244,333 in the last ninety days. 3.70% of the stock is currently owned by corporate insiders.

Merit Medical Systems Stock Up 2.9 %

Shares of Merit Medical Systems stock opened at $104.85 on Thursday. The firm has a market cap of $6.17 billion, a PE ratio of 51.40, a P/E/G ratio of 2.34 and a beta of 0.87. The business’s 50 day simple moving average is $103.23 and its 200 day simple moving average is $100.29. 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 52-week low of $70.70 and a 52-week high of $111.45.

Analyst Ratings Changes

A number of research firms have recently weighed in on MMSI. Wells Fargo & Company cut their price target on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC reduced their target price on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Barrington Research lowered their price target on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Raymond James increased their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 31st. Finally, Piper Sandler restated an “overweight” rating and issued a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.