Federated Hermes Inc. Has $63,000 Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Federated Hermes Inc. raised its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 139.1% during the 4th quarter, Holdings Channel reports. The fund owned 655 shares of the medical instruments supplier’s stock after acquiring an additional 381 shares during the period. Federated Hermes Inc.’s holdings in Merit Medical Systems were worth $63,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. NewSquare Capital LLC acquired a new stake in Merit Medical Systems during the 4th quarter worth approximately $32,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Merit Medical Systems in the fourth quarter valued at about $52,000. Smartleaf Asset Management LLC increased its position in Merit Medical Systems by 237.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock worth $134,000 after acquiring an additional 977 shares during the period. GAMMA Investing LLC raised its stake in Merit Medical Systems by 14.7% in the 4th quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock worth $144,000 after purchasing an additional 191 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new position in shares of Merit Medical Systems during the 4th quarter worth approximately $200,000. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Stock Performance

Shares of Merit Medical Systems stock opened at $90.89 on Friday. The company’s 50 day moving average price is $100.15 and its two-hundred day moving average price is $100.64. The firm has a market capitalization of $5.37 billion, a P/E ratio of 44.55, a P/E/G ratio of 2.34 and a beta of 0.85. Merit Medical Systems, Inc. has a fifty-two week low of $71.57 and a fifty-two week high of $111.45. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

Insider Activity

In related news, insider Brian G. Lloyd sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $102.90, for a total value of $3,087,000.00. Following the completion of the transaction, the insider now owns 38,945 shares in the company, valued at $4,007,440.50. This trade represents a 43.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Raul Jr. Parra sold 12,451 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the sale, the chief financial officer now directly owns 24,201 shares in the company, valued at $2,391,300.81. The trade was a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,132 shares of company stock worth $11,139,521. Insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

MMSI has been the subject of several recent research reports. Wells Fargo & Company cut their price target on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Raymond James raised their price target 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 set a $116.00 price objective on shares of Merit Medical Systems in a research note on Wednesday, April 9th. JPMorgan Chase & Co. began coverage on shares of Merit Medical Systems in a research report on Friday, March 28th. They issued an “overweight” rating and a $120.00 target price for the company. Finally, Barrington Research reaffirmed an “outperform” rating and set a $111.00 price target on shares of Merit Medical Systems in a report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.33.

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.