Channing Capital Management LLC Reduces Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Channing Capital Management LLC lowered its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 681,794 shares of the medical instruments supplier’s stock after selling 14,815 shares during the period. Channing Capital Management LLC’s holdings in Merit Medical Systems were worth $65,943,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of MMSI. Wealth Enhancement Advisory Services LLC purchased a new stake in Merit Medical Systems in the third quarter worth about $325,000. Farther Finance Advisors LLC raised its position in Merit Medical Systems by 32.7% in 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 last quarter. Van ECK Associates Corp bought a new position in Merit Medical Systems during the third quarter valued at approximately $718,000. Atria Investments Inc boosted its holdings in Merit Medical Systems by 25.5% in the third quarter. Atria Investments Inc now owns 10,461 shares of the medical instruments supplier’s stock worth $1,034,000 after purchasing an additional 2,127 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Merit Medical Systems in the 3rd quarter worth approximately $580,000. Institutional investors own 99.66% of the company’s stock.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems 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 transaction of $526,550.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $112,794,868.08. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,132 shares of company stock worth $11,139,521. 3.70% of the stock is owned by corporate insiders.

Merit Medical Systems Stock Performance

MMSI opened at $97.11 on Tuesday. The company has a 50 day simple moving average of $103.36 and a two-hundred day simple moving average of $100.52. 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 firm has a market cap of $5.71 billion, a P/E ratio of 47.60, a PEG ratio of 2.34 and a beta of 0.91. Merit Medical Systems, Inc. has a 1-year low of $70.70 and a 1-year high of $111.45.

Wall Street Analyst Weigh In

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

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.