Allspring Global Investments Holdings LLC Has $4.13 Million Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Allspring Global Investments Holdings LLC decreased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 30.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,391 shares of the medical instruments supplier’s stock after selling 23,649 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Merit Medical Systems were worth $4,132,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. State of Wyoming bought a new stake in Merit Medical Systems during the 2nd quarter valued at $28,000. Altshuler Shaham Ltd acquired a new position in shares of Merit Medical Systems during the fourth quarter valued at about $26,000. Valued Wealth Advisors LLC bought a new stake in shares of Merit Medical Systems during the fourth quarter worth about $29,000. Tompkins Financial Corp bought a new stake in shares of Merit Medical Systems during the fourth quarter worth about $38,000. Finally, Belpointe Asset Management LLC raised its holdings in shares of Merit Medical Systems by 53.8% in the 1st quarter. Belpointe Asset Management LLC now owns 500 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 175 shares during the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MMSI has been the subject of a number of recent research reports. Bank of America began coverage on Merit Medical Systems in a report on Wednesday, February 7th. They set a “neutral” rating and a $87.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $88.00 price target on shares of Merit Medical Systems in a research report on Thursday, April 11th. Raymond James lifted their price objective on shares of Merit Medical Systems from $84.00 to $89.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. CL King began coverage on shares of Merit Medical Systems in a research note on Thursday, April 11th. They issued a “buy” rating and a $88.00 target price for the company. Finally, Oppenheimer raised their price target on shares of Merit Medical Systems from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.50.

Insider Transactions at Merit Medical Systems

In related news, Director F. Ann Millner sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $80.00, for a total value of $1,600,000.00. Following the transaction, the director now owns 29,960 shares in the company, valued at $2,396,800. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Joseph Wright sold 25,000 shares of Merit Medical Systems stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $75.68, for a total value of $1,892,000.00. Following the completion of the transaction, the insider now owns 42,223 shares in the company, valued at $3,195,436.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director F. Ann Millner sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $80.00, for a total transaction of $1,600,000.00. Following the sale, the director now owns 29,960 shares in the company, valued at $2,396,800. The disclosure for this sale can be found here. Insiders sold a total of 69,637 shares of company stock worth $5,351,673 in the last quarter. Insiders own 3.70% of the company’s stock.

Merit Medical Systems Trading Up 1.5 %

Shares of Merit Medical Systems stock opened at $72.03 on Friday. The firm has a market cap of $4.18 billion, a PE ratio of 44.46, a P/E/G ratio of 1.99 and a beta of 0.89. Merit Medical Systems, Inc. has a 1 year low of $62.58 and a 1 year high of $85.62. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.45 and a quick ratio of 3.95. The stock has a fifty day moving average price of $75.08 and a 200-day moving average price of $73.50.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The business had revenue of $324.52 million during the quarter, compared to the consensus estimate of $320.66 million. Merit Medical Systems had a net margin of 7.51% and a return on equity of 14.63%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 earnings per share. Equities research analysts anticipate that Merit Medical Systems, Inc. will post 3.31 EPS for the current 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.