372,798 Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI) Acquired by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC purchased a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) during the fourth quarter, HoldingsChannel reports. The fund purchased 372,798 shares of the medical instruments supplier’s stock, valued at approximately $36,057,000. Merit Medical Systems accounts for approximately 1.4% of Bryn Mawr Capital Management LLC’s portfolio, making the stock its 19th biggest holding.

A number of other large investors also recently added to or reduced their stakes in MMSI. Louisiana State Employees Retirement System raised its holdings in shares of Merit Medical Systems by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier’s stock worth $2,728,000 after acquiring an additional 100 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Merit Medical Systems by 1.0% during the 3rd quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier’s stock worth $1,028,000 after acquiring an additional 104 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in shares of Merit Medical Systems by 0.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier’s stock worth $2,830,000 after acquiring an additional 170 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Merit Medical Systems by 2.6% during the 3rd quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier’s stock worth $735,000 after acquiring an additional 187 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Merit Medical Systems by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock worth $144,000 after acquiring an additional 191 shares in the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Stock Performance

Shares of Merit Medical Systems stock opened at $109.38 on Wednesday. Merit Medical Systems, Inc. has a 52 week low of $70.70 and a 52 week high of $111.45. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The stock’s fifty day moving average is $102.48 and its two-hundred day moving average is $99.22. The company has a market capitalization of $6.37 billion, a PE ratio of 53.62, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MMSI. Raymond James boosted their target price on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 31st. Robert W. Baird boosted their target price on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Piper Sandler reissued an “overweight” rating and set a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Barrington Research boosted their target price on Merit Medical Systems from $114.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company raised Merit Medical Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $103.00 to $120.00 in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.80.

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.