EULAV Asset Management Buys 92,000 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

EULAV Asset Management raised its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 400.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 115,000 shares of the medical instruments supplier’s stock after acquiring an additional 92,000 shares during the period. EULAV Asset Management’s holdings in Merit Medical Systems were worth $11,123,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MMSI. FMR LLC lifted its position in shares of Merit Medical Systems by 70.1% during the third quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock valued at $155,879,000 after purchasing an additional 649,799 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Merit Medical Systems by 218.9% during the 3rd quarter. Two Sigma Advisers LP now owns 445,500 shares of the medical instruments supplier’s stock worth $44,029,000 after buying an additional 305,800 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Merit Medical Systems by 85.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier’s stock worth $56,921,000 after buying an additional 265,648 shares during the last quarter. Iron Triangle Partners LP bought a new position in shares of Merit Medical Systems in the third quarter valued at approximately $25,004,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Merit Medical Systems during the third quarter valued at approximately $21,156,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on MMSI shares. Barrington Research boosted their price objective on Merit Medical Systems from $114.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Raymond James boosted 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. Wells Fargo & Company upgraded shares of Merit Medical Systems from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $103.00 to $120.00 in a report on Wednesday, December 11th. Needham & Company LLC boosted their target price on shares of Merit Medical Systems from $109.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Robert W. Baird raised their price target on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $109.80.

Merit Medical Systems Stock Up 0.1 %

Merit Medical Systems stock opened at $109.12 on Friday. The firm has a 50 day simple moving average of $101.88 and a 200 day simple moving average of $97.91. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 1-year low of $70.70 and a 1-year high of $111.45. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of 53.49, a P/E/G ratio of 2.41 and a beta of 0.87.

Insider Transactions at Merit Medical Systems

In other news, Director F. Ann Millner sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the completion of the transaction, the director now directly owns 32,391 shares in the company, valued at approximately $3,289,306.05. This trade represents a 27.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Merit Medical Systems Company 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.