Ranger Investment Management L.P. Invests $16.13 Million in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Ranger Investment Management L.P. bought a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 166,715 shares of the medical instruments supplier’s stock, valued at approximately $16,125,000. Ranger Investment Management L.P. owned about 0.29% of Merit Medical Systems as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors grew its position in shares of Merit Medical Systems by 2.6% during the third quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier’s stock valued at $735,000 after purchasing an additional 187 shares in the last quarter. HighTower Advisors LLC grew its holdings in Merit Medical Systems by 58.5% during the 3rd quarter. HighTower Advisors LLC now owns 55,443 shares of the medical instruments supplier’s stock valued at $5,478,000 after buying an additional 20,454 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Merit Medical Systems by 20.7% during the 3rd quarter. Stifel Financial Corp now owns 28,050 shares of the medical instruments supplier’s stock worth $2,772,000 after acquiring an additional 4,806 shares in the last quarter. State Street Corp boosted its position in shares of Merit Medical Systems by 0.7% during the 3rd quarter. State Street Corp now owns 2,231,701 shares of the medical instruments supplier’s stock valued at $220,559,000 after acquiring an additional 15,098 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Merit Medical Systems in the third quarter valued at $465,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, insider Brian G. Lloyd sold 25,000 shares of Merit Medical Systems stock in a transaction on Friday, February 28th. The stock was sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the completion of the sale, the insider now directly owns 38,993 shares of the company’s stock, valued at $3,879,803.50. The trade was a 39.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen C. Evans sold 5,000 shares of the company’s stock in a transaction on 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 sale, the director now owns 4,657 shares of the company’s stock, valued at $490,428.67. This represents a 51.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,132 shares of company stock worth $11,139,521. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Canaccord Genuity Group decreased their price target on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC lowered their price target on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Barrington Research reduced their price objective on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company cut 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. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $111.70.

Merit Medical Systems Price Performance

Merit Medical Systems stock opened at $88.48 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 43.37, a price-to-earnings-growth ratio of 2.34 and a beta of 0.85. The firm has a 50-day moving average of $103.11 and a two-hundred day moving average of $101.02. Merit Medical Systems, Inc. has a 1 year low of $70.70 and a 1 year 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.