Wellington Management Group LLP Makes New Investment in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Wellington Management Group LLP bought a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 225,636 shares of the medical instruments supplier's stock, valued at approximately $21,824,000. Wellington Management Group LLP owned 0.38% of Merit Medical Systems as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new stake in Merit Medical Systems during the fourth quarter worth about $66,638,000. Raymond James Financial Inc. bought a new stake in shares of Merit Medical Systems during the 4th quarter worth approximately $48,926,000. FMR LLC boosted its position in shares of Merit Medical Systems by 31.6% during the 4th quarter. FMR LLC now owns 2,076,439 shares of the medical instruments supplier's stock worth $200,833,000 after acquiring an additional 499,193 shares in the last quarter. Groupama Asset Managment bought a new position in Merit Medical Systems in the fourth quarter valued at approximately $38,688,000. Finally, Bryn Mawr Capital Management LLC bought a new stake in Merit Medical Systems during the fourth quarter worth $36,057,000. 99.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. started coverage on Merit Medical Systems in a research note on Friday, March 28th. They issued an "overweight" rating and a $120.00 price target on the stock. Robert W. Baird decreased their target price 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. Raymond James dropped their target price on shares of Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Piper Sandler reaffirmed an "overweight" rating and set a $110.00 price target (up from $106.00) on shares of Merit Medical Systems in a report on Friday, May 23rd. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $108.00 price objective (up from $106.00) on shares of Merit Medical Systems in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $109.11.

Merit Medical Systems Trading Down 0.4%

Shares of NASDAQ:MMSI traded down $0.34 during mid-day trading on Wednesday, reaching $94.26. 386,956 shares of the company's stock were exchanged, compared to its average volume of 525,847. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. Merit Medical Systems, Inc. has a twelve month low of $80.02 and a twelve month high of $111.45. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 46.21, a PEG ratio of 2.34 and a beta of 0.70. The business's fifty day moving average price is $95.19 and its 200-day moving average price is $100.08.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, topping the consensus estimate of $0.75 by $0.11. The firm had revenue of $355.35 million for the quarter, compared to the consensus estimate of $352.57 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. On average, research analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Insider Buying and Selling at Merit Medical Systems

In other news, CEO Fred P. Lampropoulos sold 10,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $95.12, for a total transaction of $951,200.00. Following the transaction, the chief executive officer now directly owns 1,056,028 shares of the company's stock, valued at $100,449,383.36. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael R. Mcdonnell sold 1,750 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $94.30, for a total transaction of $165,025.00. Following the transaction, the director now owns 8,145 shares in the company, valued at approximately $768,073.50. This trade represents a 17.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,015 shares of company stock valued at $6,709,970. 3.20% of the stock is currently owned by company insiders.

Merit Medical Systems 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.