Wellington Management Group LLP Takes $21.82 Million Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Wellington Management Group LLP purchased a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 225,636 shares of the medical instruments supplier’s stock, valued at approximately $21,824,000. Wellington Management Group LLP owned 0.39% of Merit Medical Systems as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Louisiana State Employees Retirement System boosted its stake in shares of Merit Medical Systems by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier’s stock worth $2,728,000 after acquiring an additional 100 shares during the period. Avantax Advisory Services Inc. increased its holdings in shares of Merit Medical Systems by 4.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,347 shares of the medical instruments supplier’s stock valued at $227,000 after purchasing an additional 103 shares during the last quarter. Tidal Investments LLC raised its position in shares of Merit Medical Systems by 1.0% in the third quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier’s stock valued at $1,028,000 after purchasing an additional 104 shares during the period. Arizona State Retirement System lifted its stake in shares of Merit Medical Systems by 0.8% during the 4th quarter. Arizona State Retirement System now owns 16,869 shares of the medical instruments supplier’s stock worth $1,632,000 after buying an additional 137 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Merit Medical Systems by 2.6% during the 3rd quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier’s stock worth $735,000 after buying an additional 187 shares during the period. Institutional investors and hedge funds own 99.66% of the company’s stock.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, insider Brian G. Lloyd sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the completion of the transaction, the insider now directly owns 38,993 shares in the company, valued at $3,879,803.50. The trade was a 39.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the company’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 sale, the chief executive officer now 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 109,132 shares of company stock valued at $11,139,521. Company insiders own 3.70% of the company’s stock.

Merit Medical Systems Trading Up 0.0 %

Shares of Merit Medical Systems stock opened at $92.51 on Tuesday. 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 company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 45.35, a PEG ratio of 2.34 and a beta of 0.85. The firm’s 50-day moving average price is $103.92 and its two-hundred day moving average price is $101.19.

Analyst Ratings Changes

Several equities research analysts have issued reports on MMSI shares. Raymond James raised their price objective 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. Barrington Research reduced their price target on 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. Canaccord Genuity Group lowered their price objective on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC dropped their target price on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their price target on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $111.70.

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.