Truist Financial Corp Has $1.21 Million Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Truist Financial Corp increased its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 16.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,454 shares of the medical instruments supplier’s stock after acquiring an additional 1,744 shares during the period. Truist Financial Corp’s holdings in Merit Medical Systems were worth $1,205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MMSI. FMR LLC raised its holdings in shares of Merit Medical Systems by 70.1% in the 3rd quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock worth $155,879,000 after acquiring an additional 649,799 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Merit Medical Systems by 218.9% in the 3rd quarter. Two Sigma Advisers LP now owns 445,500 shares of the medical instruments supplier’s stock worth $44,029,000 after acquiring an additional 305,800 shares during the last quarter. JPMorgan Chase & Co. raised its holdings 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 worth $56,921,000 after acquiring an additional 265,648 shares during the last quarter. Iron Triangle Partners LP acquired a new stake in shares of Merit Medical Systems in the 3rd quarter worth about $25,004,000. Finally, abrdn plc increased its stake in Merit Medical Systems by 49.7% in the 4th quarter. abrdn plc now owns 546,146 shares of the medical instruments supplier’s stock valued at $52,823,000 after buying an additional 181,228 shares during the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Trading Up 3.6 %

Shares of MMSI stock opened at $102.04 on Friday. The company has a 50 day moving average of $102.91 and a 200-day moving average of $99.96. The company has a quick ratio of 3.82, a current ratio of 5.36 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 firm has a market cap of $5.95 billion, a P/E ratio of 50.02, a PEG ratio of 2.34 and a beta of 0.87.

Analyst Ratings Changes

Several research firms have commented on MMSI. Wells Fargo & Company decreased their price objective on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research note on Wednesday. Barrington Research decreased their price objective on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday. StockNews.com lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Canaccord Genuity Group decreased their price objective on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Raymond James increased their price objective on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 31st. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and an average target price of $110.78.

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.