Allspring Global Investments Holdings LLC Sells 23,649 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Allspring Global Investments Holdings LLC lessened its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 30.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,391 shares of the medical instruments supplier’s stock after selling 23,649 shares during the period. Allspring Global Investments Holdings LLC owned 0.09% of Merit Medical Systems worth $4,132,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Cim Investment Management Inc. raised its position in shares of Merit Medical Systems by 3.5% during the first quarter. Cim Investment Management Inc. now owns 4,381 shares of the medical instruments supplier’s stock worth $324,000 after acquiring an additional 150 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Merit Medical Systems by 13.2% during the 1st quarter. First Horizon Advisors Inc. now owns 1,300 shares of the medical instruments supplier’s stock worth $96,000 after purchasing an additional 152 shares during the last quarter. Belpointe Asset Management LLC lifted its position in Merit Medical Systems by 53.8% during the 1st quarter. Belpointe Asset Management LLC now owns 500 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 175 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Merit Medical Systems by 12.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,773 shares of the medical instruments supplier’s stock valued at $122,000 after purchasing an additional 194 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Merit Medical Systems by 3.3% during the 1st quarter. Franklin Resources Inc. now owns 6,993 shares of the medical instruments supplier’s stock worth $517,000 after buying an additional 225 shares during the period. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

NASDAQ MMSI opened at $72.03 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.95 and a current ratio of 5.45. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 44.46, a PEG ratio of 1.99 and a beta of 0.89. The business has a 50 day simple moving average of $75.08 and a 200 day simple moving average of $73.50. Merit Medical Systems, Inc. has a 52-week low of $62.58 and a 52-week high of $85.62.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.04. The company had revenue of $324.52 million during the quarter, compared to the consensus estimate of $320.66 million. Merit Medical Systems had a net margin of 7.51% and a return on equity of 14.63%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.79 earnings per share. Analysts anticipate that Merit Medical Systems, Inc. will post 3.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on MMSI. CL King assumed coverage on shares of Merit Medical Systems in a report on Thursday, April 11th. They issued a “buy” rating and a $88.00 price objective on the stock. Barrington Research reissued an “outperform” rating and issued a $98.00 price target on shares of Merit Medical Systems in a research note on Tuesday. Oppenheimer lifted their price objective on Merit Medical Systems from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Finally, Piper Sandler boosted their target price on Merit Medical Systems from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, January 12th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Insider Buying and Selling at Merit Medical Systems

In other news, Director Thomas James Gunderson sold 18,157 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $76.03, for a total transaction of $1,380,476.71. Following the completion of the transaction, the director now directly owns 19,257 shares of the company’s stock, valued at $1,464,109.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director F. Ann Millner sold 20,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now owns 29,960 shares of the company’s stock, valued at $2,396,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas James Gunderson sold 18,157 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $76.03, for a total transaction of $1,380,476.71. Following the sale, the director now directly owns 19,257 shares in the company, valued at $1,464,109.71. The disclosure for this sale can be found here. Insiders have sold 69,637 shares of company stock valued at $5,351,673 in the last 90 days. 3.70% of the stock is currently owned by company insiders.

About Merit Medical Systems

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.