Merit Medical Systems, Inc. $MMSI Shares Sold by Aberdeen Group plc

Aberdeen Group plc decreased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 9.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 518,663 shares of the medical instruments supplier’s stock after selling 53,548 shares during the period. Aberdeen Group plc owned about 0.87% of Merit Medical Systems worth $43,168,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Public Sector Pension Investment Board boosted its holdings in Merit Medical Systems by 14.6% in the third quarter. Public Sector Pension Investment Board now owns 230,947 shares of the medical instruments supplier’s stock valued at $19,222,000 after purchasing an additional 29,454 shares during the period. Wedbush Securities Inc. increased its stake in shares of Merit Medical Systems by 39.9% during the third quarter. Wedbush Securities Inc. now owns 3,712 shares of the medical instruments supplier’s stock worth $309,000 after buying an additional 1,059 shares during the period. Smartleaf Asset Management LLC raised its holdings in Merit Medical Systems by 28.7% in the third quarter. Smartleaf Asset Management LLC now owns 1,663 shares of the medical instruments supplier’s stock valued at $134,000 after acquiring an additional 371 shares in the last quarter. Renaissance Group LLC grew its holdings in Merit Medical Systems by 50.0% during the 3rd quarter. Renaissance Group LLC now owns 99,378 shares of the medical instruments supplier’s stock worth $8,271,000 after acquiring an additional 33,125 shares in the last quarter. Finally, Portside Wealth Group LLC increased its position in shares of Merit Medical Systems by 18.4% in the 3rd quarter. Portside Wealth Group LLC now owns 4,191 shares of the medical instruments supplier’s stock valued at $349,000 after purchasing an additional 651 shares during the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Merit Medical Systems

In related news, Chairman Fred P. Lampropoulos sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $88.04, for a total value of $880,400.00. Following the completion of the sale, the chairman directly owned 1,019,955 shares of the company’s stock, valued at $89,796,838.20. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 55,000 shares of company stock valued at $4,765,750 over the last 90 days. Corporate insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on MMSI shares. Weiss Ratings reissued a “hold (c)” rating on shares of Merit Medical Systems in a report on Monday, December 29th. Piper Sandler reiterated an “overweight” rating and set a $109.00 price target (up from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st. BTIG Research began coverage on shares of Merit Medical Systems in a research report on Friday, February 6th. They issued a “buy” rating and a $107.00 price target for the company. Canaccord Genuity Group raised their price objective on Merit Medical Systems from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Finally, Zacks Research downgraded Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $106.00.

Merit Medical Systems Stock Performance

NASDAQ:MMSI opened at $81.66 on Tuesday. The company has a current ratio of 4.28, a quick ratio of 2.86 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $84.53 and a two-hundred day moving average price of $85.10. Merit Medical Systems, Inc. has a twelve month low of $77.62 and a twelve month high of $110.10. The company has a market capitalization of $4.84 billion, a P/E ratio of 41.88, a price-to-earnings-growth ratio of 2.22 and a beta of 0.61.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc is a global manufacturer and marketer of a broad range of medical devices used in diagnostic and interventional procedures. The company’s product portfolio encompasses vascular access, drainage, embolotherapy, and interventional oncology devices, as well as radiofrequency ablation systems and hemostasis solutions. These products serve physicians and hospitals in critical care settings and support minimally invasive treatment options across multiple specialties, including cardiology, radiology, oncology, neurology and endoscopy.

Founded in 1987 by Fred Lampropoulos, Merit Medical Systems has grown through both organic development and targeted acquisitions to expand its technology offerings and geographic reach.