Shell Asset Management Co. Sells 172 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Shell Asset Management Co. lowered its stake in Merit Medical Systems, Inc. (NASDAQ:MMSIFree Report) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,002 shares of the medical instruments supplier’s stock after selling 172 shares during the quarter. Shell Asset Management Co.’s holdings in Merit Medical Systems were worth $690,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Merit Medical Systems by 26.1% during the 1st quarter. JPMorgan Chase & Co. now owns 136,214 shares of the medical instruments supplier’s stock valued at $9,061,000 after purchasing an additional 28,233 shares in the last quarter. American Century Companies Inc. increased its stake in Merit Medical Systems by 17.9% during the 1st quarter. American Century Companies Inc. now owns 9,016 shares of the medical instruments supplier’s stock valued at $600,000 after purchasing an additional 1,369 shares in the last quarter. Citigroup Inc. increased its stake in Merit Medical Systems by 8.1% during the 1st quarter. Citigroup Inc. now owns 49,073 shares of the medical instruments supplier’s stock valued at $3,265,000 after purchasing an additional 3,685 shares in the last quarter. MetLife Investment Management LLC increased its stake in Merit Medical Systems by 55.0% during the 1st quarter. MetLife Investment Management LLC now owns 28,593 shares of the medical instruments supplier’s stock valued at $1,902,000 after purchasing an additional 10,143 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Merit Medical Systems by 4.3% during the 1st quarter. Rhumbline Advisers now owns 132,266 shares of the medical instruments supplier’s stock valued at $8,798,000 after purchasing an additional 5,501 shares in the last quarter. Institutional investors own 93.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Canaccord Genuity Group upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Thursday, December 21st. Bank of America assumed coverage on shares of Merit Medical Systems in a research note on Wednesday. They issued a “neutral” rating and a $87.00 target price for the company. Piper Sandler upped their target price on shares of Merit Medical Systems from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th. StockNews.com upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Finally, Raymond James upped their target price on shares of Merit Medical Systems from $84.00 to $89.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.13.

Check Out Our Latest Research Report on MMSI

Insider Buying and Selling

In related news, Director F. Ann Millner sold 20,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $80.00, for a total value of $1,600,000.00. Following the transaction, the director now directly owns 29,960 shares of the company’s stock, valued at approximately $2,396,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.70% of the stock is owned by insiders.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $79.98 on Friday. The company’s 50-day moving average is $75.98 and its 200 day moving average is $71.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.50 and a current ratio of 3.13. The company has a market capitalization of $4.62 billion, a P/E ratio of 46.23, a price-to-earnings-growth ratio of 2.14 and a beta of 0.91. Merit Medical Systems, Inc. has a fifty-two week low of $62.58 and a fifty-two week high of $85.62.

Merit Medical Systems Profile

(Free Report)

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. It operates in two segments, Cardiovascular and Endoscopy. The company provides peripheral intervention products for the diagnosis and treatment of diseases in peripheral vessels and organs; 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.

Further Reading

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Institutional Ownership by Quarter for Merit Medical Systems (NASDAQ:MMSI)

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