Van ECK Associates Corp Trims Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Van ECK Associates Corp decreased its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,198 shares of the medical instruments supplier’s stock after selling 328 shares during the period. Van ECK Associates Corp’s holdings in Merit Medical Systems were worth $696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MMSI. Farther Finance Advisors LLC raised its stake in Merit Medical Systems by 32.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after acquiring an additional 260 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Merit Medical Systems during the 3rd quarter valued at about $120,000. GAMMA Investing LLC raised its stake in shares of Merit Medical Systems by 14.7% during the 4th 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 last quarter. TD Private Client Wealth LLC raised its stake in shares of Merit Medical Systems by 13.9% during the 3rd 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 last quarter. Finally, Ballentine Partners LLC purchased a new position in shares of Merit Medical Systems during the 4th quarter valued at about $200,000. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Trading Down 2.4 %

MMSI stock opened at $103.16 on Friday. 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. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 50.57, a PEG ratio of 2.34 and a beta of 0.87. The business’s 50-day moving average is $102.64 and its 200 day moving average is $99.57.

Analyst Upgrades and Downgrades

MMSI has been the subject of a number of recent research reports. Canaccord Genuity Group lifted their price objective on Merit Medical Systems from $127.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Piper Sandler reiterated an “overweight” rating and set a $116.00 price objective (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Robert W. Baird lifted their price objective on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Raymond James lifted their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 31st. Finally, Barrington Research raised their target price on Merit Medical Systems from $114.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $109.80.

About Merit Medical Systems

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.