Merit Medical Systems, Inc. $MMSI Shares Bought by Renaissance Group LLC

Renaissance Group LLC lifted its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 50.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,378 shares of the medical instruments supplier’s stock after buying an additional 33,125 shares during the quarter. Renaissance Group LLC’s holdings in Merit Medical Systems were worth $8,271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its holdings in Merit Medical Systems by 7.3% during the 1st quarter. AQR Capital Management LLC now owns 16,361 shares of the medical instruments supplier’s stock worth $1,730,000 after acquiring an additional 1,114 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Merit Medical Systems by 16.9% in the first quarter. Goldman Sachs Group Inc. now owns 719,313 shares of the medical instruments supplier’s stock worth $76,039,000 after purchasing an additional 103,878 shares in the last quarter. KLP Kapitalforvaltning AS grew its stake in Merit Medical Systems by 5.2% in the second quarter. KLP Kapitalforvaltning AS now owns 12,100 shares of the medical instruments supplier’s stock worth $1,131,000 after purchasing an additional 600 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Merit Medical Systems by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 27,600 shares of the medical instruments supplier’s stock valued at $2,580,000 after buying an additional 200 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its stake in Merit Medical Systems by 2.2% during the second quarter. Maryland State Retirement & Pension System now owns 17,369 shares of the medical instruments supplier’s stock valued at $1,624,000 after buying an additional 376 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Trading Up 3.6%

Shares of 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. The company’s 50-day moving average price is $84.92 and its 200 day moving average price is $85.22. The company 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. Merit Medical Systems, Inc. has a fifty-two week low of $78.12 and a fifty-two week high of $110.67.

Insider Activity

In related news, Chairman Fred P. Lampropoulos sold 25,000 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 60,000 shares of company stock worth $5,189,900 in the last three months. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Robert W. Baird set a $108.00 target price on Merit Medical Systems in a research report on Tuesday, December 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Merit Medical Systems in a report on Monday, December 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $109.00 price target (up from $105.00) on shares of Merit Medical Systems in a report on Friday, October 31st. Zacks Research lowered shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Canaccord Genuity Group raised their target price on shares of Merit Medical Systems from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Merit Medical Systems has a consensus rating of “Moderate Buy” and an average target price 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.