Bank of New York Mellon Corp grew its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI – Get Rating) by 61.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 950,734 shares of the medical instruments supplier’s stock after acquiring an additional 361,635 shares during the period. Bank of New York Mellon Corp owned about 1.67% of Merit Medical Systems worth $53,727,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its position in shares of Merit Medical Systems by 18.7% in the third quarter. State Board of Administration of Florida Retirement System now owns 24,064 shares of the medical instruments supplier’s stock valued at $1,360,000 after acquiring an additional 3,795 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Merit Medical Systems by 8.8% in the second quarter. Rhumbline Advisers now owns 143,882 shares of the medical instruments supplier’s stock worth $7,808,000 after purchasing an additional 11,616 shares during the last quarter. Amundi bought a new stake in shares of Merit Medical Systems in the second quarter worth about $103,000. Credit Suisse AG increased its holdings in shares of Merit Medical Systems by 3.0% in the third quarter. Credit Suisse AG now owns 51,996 shares of the medical instruments supplier’s stock worth $2,938,000 after purchasing an additional 1,497 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Merit Medical Systems by 5.5% in the second quarter. Envestnet Asset Management Inc. now owns 49,808 shares of the medical instruments supplier’s stock worth $2,703,000 after purchasing an additional 2,605 shares during the last quarter. 95.38% of the stock is currently owned by hedge funds and other institutional investors.
Merit Medical Systems Trading Up 0.9 %
MMSI opened at $67.07 on Friday. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 51.59, a P/E/G ratio of 2.13 and a beta of 0.99. The stock’s 50 day moving average price is $69.93 and its 200-day moving average price is $66.19. Merit Medical Systems, Inc. has a one year low of $50.46 and a one year high of $76.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.19 and a current ratio of 2.40.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on MMSI shares. StockNews.com cut Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, February 24th. Piper Sandler lifted their target price on Merit Medical Systems from $73.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, February 23rd. Needham & Company LLC boosted their price objective on Merit Medical Systems from $73.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. Raymond James boosted their price objective on Merit Medical Systems from $72.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, February 23rd. Finally, Barrington Research reissued an “outperform” rating and set a $78.00 price objective on shares of Merit Medical Systems in a research note on Thursday, February 23rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Merit Medical Systems has a consensus rating of “Moderate Buy” and a consensus price target of $76.33.
Insider Activity
In other news, CEO Fred P. Lampropoulos sold 1,483 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $70.17, for a total transaction of $104,062.11. Following the transaction, the chief executive officer now owns 1,012,069 shares of the company’s stock, valued at $71,016,881.73. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Fred P. Lampropoulos sold 1,483 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $70.17, for a total value of $104,062.11. Following the completion of the sale, the chief executive officer now owns 1,012,069 shares in the company, valued at $71,016,881.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lynne Ward sold 11,585 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $66.71, for a total value of $772,835.35. Following the completion of the sale, the director now owns 5,964 shares of the company’s stock, valued at approximately $397,858.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,091 shares of company stock valued at $1,949,607. 3.80% of the stock is currently owned by insiders.
About Merit Medical Systems
Merit Medical Systems, Inc engages in the manufacture and marketing of proprietary disposable medical devices. It operates through the Cardiovascular and Endoscopy segments. The Cardiovascular segment consists of peripheral intervention, cardiac intervention, interventional oncology and spine, and cardiovascular and critical care product groups.
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