Envestnet Portfolio Solutions Inc. Raises Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Envestnet Portfolio Solutions Inc. lifted its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 29.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,391 shares of the medical instruments supplier’s stock after purchasing an additional 1,215 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Merit Medical Systems were worth $521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewSquare Capital LLC purchased a new position in Merit Medical Systems in the 4th quarter worth about $32,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Merit Medical Systems in the fourth quarter worth approximately $52,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Merit Medical Systems during the third quarter valued at approximately $120,000. Smartleaf Asset Management LLC lifted its position in Merit Medical Systems by 237.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock valued at $134,000 after purchasing an additional 977 shares during the period. Finally, GAMMA Investing LLC lifted 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 purchasing an additional 191 shares during the period. 99.66% of the stock is owned by institutional investors.

Merit Medical Systems Trading Up 0.1 %

Merit Medical Systems stock opened at $104.74 on Wednesday. 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 capitalization of $6.16 billion, a price-to-earnings ratio of 51.34, a P/E/G ratio of 2.34 and a beta of 0.91. The firm has a 50 day moving average of $104.21 and a 200 day moving average of $100.92. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57.

Insiders Place Their Bets

In other news, insider Brian G. Lloyd sold 30,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $102.90, for a total value of $3,087,000.00. Following the transaction, the insider now directly owns 38,945 shares in the company, valued at $4,007,440.50. The trade was a 43.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the company’s stock in a transaction dated 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 approximately $112,794,868.08. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,132 shares of company stock worth $11,139,521 over the last three months. 3.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MMSI has been the subject of a number of research reports. Barrington Research decreased their target price 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, February 26th. Wells Fargo & Company lowered their target price on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Piper Sandler restated an “overweight” rating and set a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Needham & Company LLC lowered their price objective on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Raymond James boosted their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 31st. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Merit Medical Systems has a consensus rating of “Moderate Buy” and an average target price of $110.78.

Merit Medical Systems Company 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.