372,798 Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI) Acquired by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC purchased a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 372,798 shares of the medical instruments supplier’s stock, valued at approximately $36,057,000. Merit Medical Systems comprises about 1.4% of Bryn Mawr Capital Management LLC’s holdings, making the stock its 19th largest holding. Bryn Mawr Capital Management LLC owned 0.64% of Merit Medical Systems at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. New York State Common Retirement Fund grew its position in Merit Medical Systems by 0.6% in the fourth quarter. New York State Common Retirement Fund now owns 168,367 shares of the medical instruments supplier’s stock valued at $16,284,000 after purchasing an additional 972 shares in the last quarter. Truist Financial Corp lifted its stake in shares of Merit Medical Systems by 16.3% during the 4th quarter. Truist Financial Corp now owns 12,454 shares of the medical instruments supplier’s stock worth $1,205,000 after buying an additional 1,744 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Merit Medical Systems by 3.9% during the 4th quarter. Principal Financial Group Inc. now owns 312,020 shares of the medical instruments supplier’s stock worth $30,179,000 after buying an additional 11,756 shares during the last quarter. Principal Securities Inc. raised its stake in Merit Medical Systems by 28.0% in the 4th quarter. Principal Securities Inc. now owns 2,342 shares of the medical instruments supplier’s stock worth $227,000 after purchasing an additional 513 shares in the last quarter. Finally, Congress Asset Management Co. raised its stake in Merit Medical Systems by 1.8% in the 4th quarter. Congress Asset Management Co. now owns 600,686 shares of the medical instruments supplier’s stock worth $58,098,000 after purchasing an additional 10,710 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Stock Up 1.1 %

MMSI stock opened at $109.38 on Wednesday. Merit Medical Systems, Inc. has a twelve month low of $70.70 and a twelve month high of $111.45. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The stock has a market cap of $6.37 billion, a P/E ratio of 53.62, a PEG ratio of 2.40 and a beta of 0.87. The business’s 50-day moving average price is $102.48 and its 200-day moving average price is $99.22.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MMSI shares. Piper Sandler reissued an “overweight” rating and issued a $116.00 target price (up from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Wells Fargo & Company upgraded shares of Merit Medical Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $103.00 to $120.00 in a research report on Wednesday, December 11th. Needham & Company LLC boosted their price target 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. Canaccord Genuity Group upped their target price on shares of Merit Medical Systems from $127.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Robert W. Baird increased their price target on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.80.

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.