Rhumbline Advisers Has $15.22 Million Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Rhumbline Advisers lessened its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,332 shares of the medical instruments supplier’s stock after selling 2,991 shares during the quarter. Rhumbline Advisers’ holdings in Merit Medical Systems were worth $15,217,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its holdings in shares of Merit Medical Systems by 305.4% in the third quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier’s stock valued at $11,142,000 after buying an additional 84,923 shares during the period. EULAV Asset Management lifted its position in shares of Merit Medical Systems by 400.0% in the fourth quarter. EULAV Asset Management now owns 115,000 shares of the medical instruments supplier’s stock worth $11,123,000 after purchasing an additional 92,000 shares in the last quarter. Van ECK Associates Corp bought a new stake in shares of Merit Medical Systems in the third quarter worth $718,000. Fisher Asset Management LLC lifted its position in shares of Merit Medical Systems by 3.2% in the third quarter. Fisher Asset Management LLC now owns 221,690 shares of the medical instruments supplier’s stock worth $21,910,000 after purchasing an additional 6,837 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Merit Medical Systems by 85.6% in the third quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier’s stock worth $56,921,000 after purchasing an additional 265,648 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

NASDAQ:MMSI opened at $103.16 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The firm’s fifty day moving average price is $102.64 and its two-hundred day moving average price is $99.57. Merit Medical Systems, Inc. has a one year low of $70.70 and a one year high of $111.45. The company has a market cap of $6.01 billion, a P/E ratio of 50.57, a P/E/G ratio of 2.34 and a beta of 0.87.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MMSI. Needham & Company LLC boosted their price objective 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. Raymond James upped their price target 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. Canaccord Genuity Group upped their price target 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. Robert W. Baird upped their price target on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.80.

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.