Great Lakes Advisors LLC Cuts Stock Position in Merit Medical Systems, Inc. $MMSI

Great Lakes Advisors LLC cut its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 96.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,503 shares of the medical instruments supplier’s stock after selling 107,976 shares during the quarter. Great Lakes Advisors LLC’s holdings in Merit Medical Systems were worth $375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Salomon & Ludwin LLC purchased a new stake in Merit Medical Systems during the third quarter worth about $37,000. EverSource Wealth Advisors LLC grew its position in shares of Merit Medical Systems by 745.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 922 shares of the medical instruments supplier’s stock valued at $86,000 after acquiring an additional 813 shares during the period. First Horizon Corp purchased a new stake in shares of Merit Medical Systems during the 3rd quarter worth approximately $78,000. Palouse Capital Management Inc. raised its holdings in shares of Merit Medical Systems by 27.5% in the 3rd quarter. Palouse Capital Management Inc. now owns 1,076 shares of the medical instruments supplier’s stock worth $90,000 after purchasing an additional 232 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in Merit Medical Systems in the second quarter valued at approximately $162,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Fred P. Lampropoulos sold 25,000 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $87.31, for a total value of $2,182,750.00. Following the completion of the sale, the chairman owned 1,029,955 shares of the company’s stock, valued at approximately $89,925,371.05. This represents a 2.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 60,000 shares of company stock worth $5,189,900 in the last quarter. 3.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MMSI has been the topic of a number of recent research reports. Robert W. Baird set a $108.00 price target on Merit Medical Systems in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Merit Medical Systems in a report on Monday, December 29th. Canaccord Genuity Group increased their target price on shares of Merit Medical Systems from $93.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Zacks Research lowered shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, Barrington Research restated an “outperform” rating and set a $106.00 price target on shares of Merit Medical Systems in a research note on Friday, November 14th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Merit Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.88.

Merit Medical Systems Trading Up 0.6%

Shares of Merit Medical Systems stock opened at $81.61 on Tuesday. Merit Medical Systems, Inc. has a 1 year low of $78.12 and a 1 year high of $110.67. The firm has a market cap of $4.84 billion, a PE ratio of 41.85, a PEG ratio of 2.20 and a beta of 0.61. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.28 and a quick ratio of 2.86. The company has a 50 day simple moving average of $85.46 and a two-hundred day simple moving average of $85.33.

About Merit Medical Systems

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.