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Allspring Global Investments Holdings LLC Increases Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Merit Medical Systems logo with Medical background

Allspring Global Investments Holdings LLC increased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 7.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,870 shares of the medical instruments supplier's stock after buying an additional 4,450 shares during the period. Allspring Global Investments Holdings LLC owned about 0.11% of Merit Medical Systems worth $7,051,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in shares of 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 valued at $134,000 after buying an additional 977 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Merit Medical Systems by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 748,561 shares of the medical instruments supplier's stock worth $72,401,000 after purchasing an additional 21,221 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Merit Medical Systems by 32.1% in the 4th quarter. Victory Capital Management Inc. now owns 78,171 shares of the medical instruments supplier's stock valued at $7,561,000 after purchasing an additional 19,001 shares in the last quarter. Atria Investments Inc lifted its position in shares of Merit Medical Systems by 3.8% during the fourth quarter. Atria Investments Inc now owns 10,860 shares of the medical instruments supplier's stock worth $1,050,000 after purchasing an additional 399 shares during the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of Merit Medical Systems during the fourth quarter worth about $264,000. Institutional investors and hedge funds own 99.66% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on MMSI shares. Piper Sandler restated an "overweight" rating and set a $110.00 price objective (up previously from $106.00) on shares of Merit Medical Systems in a research note on Friday, May 23rd. Robert W. Baird dropped their price target on Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Wells Fargo & Company restated an "overweight" rating and set a $108.00 price objective (up from $106.00) on shares of Merit Medical Systems in a research note on Wednesday, May 21st. Barrington Research decreased their price objective on shares of Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Raymond James Financial dropped their target price on shares of Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Merit Medical Systems has a consensus rating of "Moderate Buy" and a consensus target price of $109.11.

View Our Latest Analysis on Merit Medical Systems

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI opened at $93.56 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.87 and a quick ratio of 3.26. The firm has a market capitalization of $5.53 billion, a PE ratio of 45.86, a P/E/G ratio of 3.08 and a beta of 0.65. Merit Medical Systems, Inc. has a 1-year low of $82.62 and a 1-year high of $111.45. The business's fifty day moving average price is $94.75 and its two-hundred day moving average price is $98.50.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.11. Merit Medical Systems had a net margin of 8.81% and a return on equity of 15.52%. The firm had revenue of $355.35 million for the quarter, compared to the consensus estimate of $352.57 million. During the same period last year, the firm posted $0.77 EPS. Merit Medical Systems's quarterly revenue was up 9.8% compared to the same quarter last year. On average, research analysts expect that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Insider Activity at Merit Medical Systems

In other news, CEO Fred P. Lampropoulos sold 20,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $96.54, for a total transaction of $1,930,800.00. Following the transaction, the chief executive officer directly owned 1,066,028 shares of the company's stock, valued at approximately $102,914,343.12. This trade represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director F. Ann Millner sold 21,250 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $96.47, for a total transaction of $2,049,987.50. Following the completion of the transaction, the director owned 34,543 shares of the company's stock, valued at $3,332,363.21. This represents a 38.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,596 shares of company stock worth $8,171,433 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Merit Medical Systems Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Merit Medical Systems (NASDAQ:MMSI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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