Renaissance Group LLC Raises Position in Merit Medical Systems, Inc. $MMSI

Renaissance Group LLC increased its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 50.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,378 shares of the medical instruments supplier’s stock after purchasing an additional 33,125 shares during the period. Renaissance Group LLC owned 0.17% of Merit Medical Systems worth $8,271,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Salomon & Ludwin LLC purchased a new stake in Merit Medical Systems in the 3rd quarter valued at about $37,000. First Horizon Corp purchased a new stake in Merit Medical Systems in the third quarter valued at approximately $78,000. EverSource Wealth Advisors LLC grew its holdings in Merit Medical Systems by 745.9% in the second quarter. EverSource Wealth Advisors LLC now owns 922 shares of the medical instruments supplier’s stock valued at $86,000 after purchasing an additional 813 shares during the period. Palouse Capital Management Inc. increased its position in Merit Medical Systems by 27.5% during the third quarter. Palouse Capital Management Inc. now owns 1,076 shares of the medical instruments supplier’s stock worth $90,000 after purchasing an additional 232 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Merit Medical Systems during the second quarter worth approximately $162,000. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Merit Medical Systems news, Chairman Fred P. Lampropoulos sold 25,000 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $87.31, for a total value of $2,182,750.00. Following the completion of the transaction, the chairman directly owned 1,029,955 shares of the company’s stock, valued at $89,925,371.05. This represents a 2.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 60,000 shares of company stock valued at $5,189,900. Insiders own 3.20% of the company’s stock.

Merit Medical Systems Stock Up 3.6%

NASDAQ MMSI opened at $82.50 on Friday. The company has a quick ratio of 2.86, a current ratio of 4.28 and a debt-to-equity ratio of 0.48. Merit Medical Systems, Inc. has a fifty-two week low of $78.12 and a fifty-two week high of $110.67. The business has a 50 day moving average price of $84.92 and a two-hundred day moving average price of $85.22. The stock has a market cap of $4.89 billion, a PE ratio of 42.31, a P/E/G ratio of 2.16 and a beta of 0.61.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MMSI shares. Needham & Company LLC restated a “buy” rating and set a $108.00 price objective on shares of Merit Medical Systems in a report on Friday, January 9th. Barrington Research reissued an “outperform” rating and set a $106.00 price target on shares of Merit Medical Systems in a research report on Friday, November 14th. Robert W. Baird set a $108.00 price objective on Merit Medical Systems in a report on Tuesday, December 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $109.00 price objective (up from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Merit Medical Systems in a research report on Monday, December 29th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.00.

Merit Medical Systems Company Profile

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.