Pictet Asset Management Holding SA Grows Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Pictet Asset Management Holding SA raised its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,675 shares of the medical instruments supplier’s stock after buying an additional 1,049 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Merit Medical Systems were worth $839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Barclays PLC grew its holdings in shares of Merit Medical Systems by 305.4% during the third quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier’s stock worth $11,142,000 after buying an additional 84,923 shares during the last quarter. EULAV Asset Management lifted its position in Merit Medical Systems by 400.0% during the 4th quarter. EULAV Asset Management now owns 115,000 shares of the medical instruments supplier’s stock worth $11,123,000 after acquiring an additional 92,000 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Merit Medical Systems by 85.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier’s stock valued at $56,921,000 after purchasing an additional 265,648 shares during the last quarter. AMI Asset Management Corp increased its holdings in shares of Merit Medical Systems by 28.7% in the fourth quarter. AMI Asset Management Corp now owns 33,041 shares of the medical instruments supplier’s stock valued at $3,196,000 after purchasing an additional 7,367 shares during the period. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in shares of Merit Medical Systems during the fourth quarter worth approximately $800,000. 99.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Merit Medical Systems

In other news, CEO Fred P. Lampropoulos sold 31,320 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $103.86, for a total value of $3,252,895.20. Following the completion of the transaction, the chief executive officer now directly owns 1,086,028 shares of the company’s stock, valued at $112,794,868.08. The trade was a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian G. Lloyd sold 25,000 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $99.50, for a total value of $2,487,500.00. Following the sale, the insider now directly owns 38,993 shares in the company, valued at approximately $3,879,803.50. The trade was a 39.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,132 shares of company stock valued at $11,139,521 over the last quarter. Corporate insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MMSI. Piper Sandler reiterated an “overweight” rating and issued a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Canaccord Genuity Group dropped their price target on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. started coverage on shares of Merit Medical Systems in a report on Friday, March 28th. They set an “overweight” rating and a $120.00 price target for the company. Needham & Company LLC lowered their price objective on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their price target on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $111.70.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI opened at $92.51 on Tuesday. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $103.92 and its 200 day moving average price is $101.19. Merit Medical Systems, Inc. has a 52 week low of $70.70 and a 52 week high of $111.45. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 45.35, a PEG ratio of 2.34 and a beta of 0.85.

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.