EntryPoint Capital LLC Invests $396,000 in Merit Medical Systems, Inc. (NASDAQ:MMSI)

EntryPoint Capital LLC purchased a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,099 shares of the medical instruments supplier’s stock, valued at approximately $396,000.

Several other hedge funds have also made changes to their positions in the company. NewSquare Capital LLC purchased a new stake in shares of Merit Medical Systems in the fourth quarter valued at $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in Merit Medical Systems during the fourth quarter valued at $52,000. Harvest Fund Management Co. Ltd purchased a new stake in Merit Medical Systems in the 3rd quarter worth about $120,000. Smartleaf Asset Management LLC boosted its position 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 worth $134,000 after acquiring an additional 977 shares during the period. Finally, GAMMA Investing LLC grew 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 valued at $144,000 after acquiring an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MMSI shares. Raymond James raised their price target 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. Needham & Company LLC decreased 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 research note on Wednesday, February 26th. Canaccord Genuity Group dropped 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. Barrington Research cut 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. Finally, Piper Sandler restated an “overweight” rating and issued a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.78.

Insider Buying and Selling

In related news, CEO Fred P. Lampropoulos sold 31,320 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total value of $3,252,895.20. Following the transaction, the chief executive officer now directly owns 1,086,028 shares in the company, valued at approximately $112,794,868.08. This trade represents a 2.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian G. Lloyd sold 30,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $102.90, for a total transaction of $3,087,000.00. Following the transaction, the insider now directly owns 38,945 shares of the company’s stock, valued at approximately $4,007,440.50. This represents a 43.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,132 shares of company stock worth $11,139,521. 3.70% of the stock is currently owned by insiders.

Merit Medical Systems Stock Performance

MMSI opened at $103.70 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The company has a market cap of $6.10 billion, a PE ratio of 50.83, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91. The stock has a 50-day moving average of $104.25 and a 200-day moving average of $100.94. Merit Medical Systems, Inc. has a 52-week low of $70.70 and a 52-week high of $111.45.

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.