Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSIGet Rating) by 32.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,464 shares of the medical instruments supplier’s stock after selling 24,894 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.09% of Merit Medical Systems worth $2,964,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MMSI. Lindbrook Capital LLC increased its stake in Merit Medical Systems by 148.4% in the second quarter. Lindbrook Capital LLC now owns 477 shares of the medical instruments supplier’s stock valued at $26,000 after purchasing an additional 285 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Merit Medical Systems in the 2nd quarter valued at about $37,000. Wipfli Financial Advisors LLC purchased a new stake in shares of Merit Medical Systems during the 3rd quarter worth about $40,000. Quantbot Technologies LP acquired a new stake in Merit Medical Systems during the 1st quarter worth approximately $43,000. Finally, First Horizon Advisors Inc. increased its position in Merit Medical Systems by 56.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,287 shares of the medical instruments supplier’s stock worth $70,000 after purchasing an additional 463 shares in the last quarter. 95.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MMSI has been the subject of a number of research analyst reports. Raymond James increased their target price on shares of Merit Medical Systems from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 27th. Piper Sandler increased their target price on shares of Merit Medical Systems from $70.00 to $73.00 in a research report on Thursday, October 27th. Canaccord Genuity Group downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating and dropped their target price for the stock from $73.00 to $72.00 in a research report on Tuesday, December 20th. Canaccord Genuity Group increased their target price on shares of Merit Medical Systems from $69.00 to $73.00 in a research report on Monday, November 7th. Finally, StockNews.com raised shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 3rd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $73.50.

Merit Medical Systems Stock Down 0.2 %

Shares of NASDAQ:MMSI opened at $69.84 on Thursday. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.19. Merit Medical Systems, Inc. has a 52-week low of $50.46 and a 52-week high of $76.14. The company has a 50 day moving average of $70.76 and a two-hundred day moving average of $62.93. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 64.67, a price-to-earnings-growth ratio of 2.26 and a beta of 1.01.

Merit Medical Systems (NASDAQ:MMSIGet Rating) last released its earnings results on Wednesday, October 26th. The medical instruments supplier reported $0.64 EPS for the quarter, beating the consensus estimate of $0.53 by $0.11. The company had revenue of $287.18 million during the quarter, compared to analysts’ expectations of $273.03 million. Merit Medical Systems had a return on equity of 14.14% and a net margin of 5.43%. As a group, analysts forecast that Merit Medical Systems, Inc. will post 2.57 earnings per share for the current fiscal year.

About Merit Medical Systems

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Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. The company operates in two segments, Cardiovascular and Endoscopy.

Further Reading

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

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