Invesco Ltd. Has $148.51 Million Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Invesco Ltd. increased its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,535,468 shares of the medical instruments supplier’s stock after acquiring an additional 118,142 shares during the period. Invesco Ltd. owned about 2.63% of Merit Medical Systems worth $148,510,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MMSI. Barclays PLC grew its holdings in shares of Merit Medical Systems by 305.4% during the third quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier’s stock worth $11,142,000 after purchasing an additional 84,923 shares during the last quarter. EULAV Asset Management lifted its position in Merit Medical Systems by 400.0% during the 4th quarter. EULAV Asset Management now owns 115,000 shares of the medical instruments supplier’s stock worth $11,123,000 after buying an additional 92,000 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Merit Medical Systems by 85.6% during 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. Pictet Asset Management Holding SA increased its position in Merit Medical Systems by 13.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 8,675 shares of the medical instruments supplier’s stock valued at $839,000 after acquiring an additional 1,049 shares in the last quarter. Finally, AMI Asset Management Corp raised its stake in shares of Merit Medical Systems by 28.7% in the fourth quarter. AMI Asset Management Corp now owns 33,041 shares of the medical instruments supplier’s stock worth $3,196,000 after acquiring an additional 7,367 shares during the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Piper Sandler reissued 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. JPMorgan Chase & Co. began coverage on Merit Medical Systems in a research report on Friday, March 28th. They issued an “overweight” rating and a $120.00 price objective on the stock. Raymond James boosted their target price on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 31st. Needham & Company LLC reiterated a “buy” rating and issued a $116.00 price target on shares of Merit Medical Systems in a report on Wednesday. Finally, Wells Fargo & Company dropped their price objective on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.33.

Merit Medical Systems Price Performance

Shares of MMSI opened at $92.04 on Friday. The stock has a 50 day simple moving average of $101.92 and a 200 day simple moving average of $100.86. Merit Medical Systems, Inc. has a 52-week low of $70.70 and a 52-week high of $111.45. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The firm has a market capitalization of $5.44 billion, a PE ratio of 45.12, a P/E/G ratio of 2.34 and a beta of 0.85.

Insider Activity

In related news, CEO Fred P. Lampropoulos sold 31,320 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were 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 directly owns 1,086,028 shares of the company’s stock, valued at approximately $112,794,868.08. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen C. Evans sold 5,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the completion of the transaction, the director now directly owns 4,657 shares of the company’s stock, valued at approximately $490,428.67. The trade was a 51.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,132 shares of company stock worth $11,139,521 over the last quarter. 3.70% of the stock is currently owned by company insiders.

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.