Great Lakes Advisors LLC Sells 107,976 Shares of Merit Medical Systems, Inc. $MMSI

Great Lakes Advisors LLC decreased its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 96.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,503 shares of the medical instruments supplier’s stock after selling 107,976 shares during the period. Great Lakes Advisors LLC’s holdings in Merit Medical Systems were worth $375,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MMSI. Assenagon Asset Management S.A. purchased a new position in shares of Merit Medical Systems during the 3rd quarter worth approximately $1,644,000. Norges Bank bought a new stake in shares of Merit Medical Systems during the second quarter valued at approximately $53,697,000. Fort Washington Investment Advisors Inc. OH grew its stake in Merit Medical Systems by 69.7% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 301,718 shares of the medical instruments supplier’s stock worth $25,112,000 after purchasing an additional 123,912 shares during the period. Westwood Holdings Group Inc. raised its holdings in Merit Medical Systems by 11.9% in the second quarter. Westwood Holdings Group Inc. now owns 768,970 shares of the medical instruments supplier’s stock worth $71,883,000 after purchasing an additional 81,469 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Merit Medical Systems by 5.3% during the second quarter. Envestnet Asset Management Inc. now owns 244,163 shares of the medical instruments supplier’s stock valued at $22,824,000 after buying an additional 12,256 shares during the period. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Stock Performance

MMSI stock opened at $81.61 on Tuesday. The stock’s 50 day simple moving average is $85.46 and its 200 day simple moving average is $85.33. The company has a current ratio of 4.28, a quick ratio of 2.86 and a debt-to-equity ratio of 0.48. Merit Medical Systems, Inc. has a 12-month low of $78.12 and a 12-month high of $110.67. The stock has a market capitalization of $4.84 billion, a PE ratio of 41.85, a price-to-earnings-growth ratio of 2.20 and a beta of 0.61.

Insider Activity at Merit Medical Systems

In related news, Chairman Fred P. Lampropoulos sold 10,000 shares of Merit Medical Systems stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $88.04, for a total value of $880,400.00. Following the completion of the sale, the chairman directly owned 1,019,955 shares in the company, valued at approximately $89,796,838.20. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 60,000 shares of company stock worth $5,189,900 over the last 90 days. Company insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $108.00 price target on shares of Merit Medical Systems in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Merit Medical Systems in a research note on Monday, December 29th. Canaccord Genuity Group boosted their price target on Merit Medical Systems from $93.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Piper Sandler restated an “overweight” rating and issued a $109.00 price target (up previously from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st. Finally, Barrington Research reiterated an “outperform” rating and set a $106.00 price objective on shares of Merit Medical Systems in a research note on Friday, November 14th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Merit Medical Systems currently has an average rating of “Moderate Buy” and an average target price of $105.88.

About Merit Medical Systems

Merit Medical Systems, Inc is a global manufacturer and marketer of a broad range of medical devices used in diagnostic and interventional procedures. The company’s product portfolio encompasses vascular access, drainage, embolotherapy, and interventional oncology devices, as well as radiofrequency ablation systems and hemostasis solutions. These products serve physicians and hospitals in critical care settings and support minimally invasive treatment options across multiple specialties, including cardiology, radiology, oncology, neurology and endoscopy.

Founded in 1987 by Fred Lampropoulos, Merit Medical Systems has grown through both organic development and targeted acquisitions to expand its technology offerings and geographic reach.