Profund Advisors LLC decreased its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI – Free Report) by 6.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,340 shares of the medical instruments supplier’s stock after selling 225 shares during the period. Profund Advisors LLC’s holdings in Merit Medical Systems were worth $247,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC acquired a new stake in shares of Merit Medical Systems in the first quarter valued at approximately $1,082,000. Altshuler Shaham Ltd bought a new stake in Merit Medical Systems in the fourth quarter worth about $26,000. Lazard Asset Management LLC acquired a new stake in Merit Medical Systems during the fourth quarter valued at approximately $45,000. Quantbot Technologies LP acquired a new stake in shares of Merit Medical Systems during the 1st quarter valued at $43,000. Finally, Huntington National Bank lifted its holdings in shares of Merit Medical Systems by 81,800.0% during the fourth quarter. Huntington National Bank now owns 819 shares of the medical instruments supplier’s stock valued at $58,000 after purchasing an additional 818 shares during the last quarter. Institutional investors and hedge funds own 93.16% of the company’s stock.
Merit Medical Systems Price Performance
Shares of MMSI stock opened at $63.36 on Friday. Merit Medical Systems, Inc. has a 12 month low of $52.79 and a 12 month high of $85.62. The company has a market capitalization of $3.65 billion, a P/E ratio of 40.62, a P/E/G ratio of 1.93 and a beta of 0.97. The stock has a 50 day moving average of $73.61 and a two-hundred day moving average of $76.24. The company has a current ratio of 3.13, a quick ratio of 1.52 and a debt-to-equity ratio of 0.28.
Insider Activity at Merit Medical Systems
In other Merit Medical Systems news, Director A Scott Anderson sold 22,180 shares of Merit Medical Systems stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $69.40, for a total value of $1,539,292.00. Following the completion of the transaction, the director now owns 49,217 shares in the company, valued at approximately $3,415,659.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Merit Medical Systems news, COO Neil Peterson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $67.91, for a total transaction of $543,280.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director A Scott Anderson sold 22,180 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $69.40, for a total transaction of $1,539,292.00. Following the completion of the transaction, the director now owns 49,217 shares in the company, valued at $3,415,659.80. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several brokerages recently commented on MMSI. Barrington Research restated an “outperform” rating and issued a $95.00 price target on shares of Merit Medical Systems in a research report on Wednesday, August 16th. Canaccord Genuity Group reduced their price target on Merit Medical Systems from $86.00 to $70.00 and set a “hold” rating for the company in a report on Monday, August 28th. Piper Sandler upped their price objective on shares of Merit Medical Systems from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, July 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $96.00 target price on shares of Merit Medical Systems in a research report on Wednesday, July 26th. Finally, StockNews.com downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.83.
Read Our Latest Stock Analysis on MMSI
Merit Medical Systems Company Profile
Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. It operates in two segments, Cardiovascular and Endoscopy. The company provides peripheral intervention products for the diagnosis and treatment of diseases in peripheral vessels and organs; 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.
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