Nuveen Asset Management LLC Has $71.84 Million Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Nuveen Asset Management LLC lifted its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 742,735 shares of the medical instruments supplier's stock after acquiring an additional 25,816 shares during the period. Nuveen Asset Management LLC owned approximately 1.27% of Merit Medical Systems worth $71,837,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. NewSquare Capital LLC purchased a new position in shares of Merit Medical Systems in the 4th quarter worth $32,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Merit Medical Systems in the 4th quarter worth about $52,000. Federated Hermes Inc. increased its position in Merit Medical Systems by 139.1% during the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock worth $63,000 after purchasing an additional 381 shares in the last quarter. Group One Trading LLC bought a new stake in Merit Medical Systems during the fourth quarter valued at $77,000. Finally, Smartleaf Asset Management LLC grew its holdings in Merit Medical Systems by 237.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier's stock worth $134,000 after acquiring an additional 977 shares during the period. 99.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MMSI shares. Canaccord Genuity Group increased their target price on Merit Medical Systems from $108.00 to $112.00 and gave the stock a "buy" rating in a report on Wednesday. Needham & Company LLC raised their price target on Merit Medical Systems from $100.00 to $108.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Barrington Research decreased their price target on Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Piper Sandler reduced their price objective on Merit Medical Systems from $116.00 to $112.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Raymond James cut their price objective on Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Merit Medical Systems presently has a consensus rating of "Moderate Buy" and an average target price of $109.33.

Insider Activity

In other Merit Medical Systems news, Director F. Ann Millner sold 21,250 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $96.47, for a total transaction of $2,049,987.50. Following the completion of the sale, the director now owns 34,543 shares of the company's stock, valued at $3,332,363.21. This trade represents a 38.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian G. Lloyd sold 25,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $99.50, for a total value of $2,487,500.00. Following the transaction, the insider now owns 38,993 shares in the company, valued at $3,879,803.50. The trade was a 39.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 130,382 shares of company stock valued at $13,189,508 over the last quarter. 3.20% of the stock is owned by company insiders.

Merit Medical Systems Stock Down 2.3%

NASDAQ MMSI traded down $2.32 on Wednesday, hitting $96.49. 440,210 shares of the stock were exchanged, compared to its average volume of 518,411. The company has a market cap of $5.70 billion, a PE ratio of 47.30, a PEG ratio of 2.34 and a beta of 0.70. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a fifty-two week low of $80.02 and a fifty-two week high of $111.45. The company has a 50-day moving average price of $96.77 and a 200-day moving average price of $100.58.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.11. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company had revenue of $355.35 million for the quarter, compared to the consensus estimate of $352.57 million. During the same quarter in the prior year, the company earned $0.77 EPS. The firm's quarterly revenue was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

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.