Principal Financial Group Inc. Buys 11,756 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Principal Financial Group Inc. boosted its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 312,020 shares of the medical instruments supplier’s stock after buying an additional 11,756 shares during the quarter. Principal Financial Group Inc. owned approximately 0.54% of Merit Medical Systems worth $30,179,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in Merit Medical Systems by 32.7% during the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock valued at $104,000 after buying an additional 260 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Merit Medical Systems during the third quarter valued at about $120,000. GAMMA Investing LLC grew its position in Merit Medical Systems by 14.7% during the fourth quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock valued at $144,000 after buying an additional 191 shares during the period. TD Private Client Wealth LLC grew its position in Merit Medical Systems by 13.9% during the third quarter. TD Private Client Wealth LLC now owns 1,732 shares of the medical instruments supplier’s stock valued at $171,000 after buying an additional 211 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in Merit Medical Systems during the third quarter worth about $207,000. Institutional investors own 99.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MMSI. Barrington Research increased their target price on shares of Merit Medical Systems from $114.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Needham & Company LLC increased their target price on shares of Merit Medical Systems from $109.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. StockNews.com lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Canaccord Genuity Group increased their target price on shares of Merit Medical Systems from $127.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Finally, Raymond James increased their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 31st. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $109.80.

Merit Medical Systems Price Performance

MMSI stock opened at $103.16 on Friday. The firm has a 50 day moving average of $102.64 and a 200-day moving average of $99.57. The firm has a market capitalization of $6.01 billion, a P/E ratio of 50.57, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 12 month low of $70.70 and a 12 month high of $111.45.

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.