Bessemer Group Inc. Has $16.95 Million Stock Position in Merit Medical Systems, Inc. $MMSI

Bessemer Group Inc. raised its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 160,206.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,589 shares of the medical instruments supplier’s stock after purchasing an additional 203,462 shares during the quarter. Bessemer Group Inc. owned approximately 0.34% of Merit Medical Systems worth $16,946,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in shares of Merit Medical Systems by 10.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 269,189 shares of the medical instruments supplier’s stock valued at $22,405,000 after buying an additional 25,026 shares during the last quarter. Peak Retirement Planning Inc. raised its position in Merit Medical Systems by 55.4% during the third quarter. Peak Retirement Planning Inc. now owns 23,978 shares of the medical instruments supplier’s stock valued at $1,996,000 after acquiring an additional 8,552 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Merit Medical Systems by 250.5% in the third quarter. Thrivent Financial for Lutherans now owns 750,066 shares of the medical instruments supplier’s stock valued at $62,428,000 after acquiring an additional 536,072 shares during the last quarter. Winnow Wealth LLC bought a new stake in Merit Medical Systems in the third quarter worth approximately $831,000. Finally, Significant Wealth Partners LLC increased its stake in shares of Merit Medical Systems by 33.0% during the 3rd quarter. Significant Wealth Partners LLC now owns 6,515 shares of the medical instruments supplier’s stock worth $542,000 after purchasing an additional 1,617 shares during the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Trading Up 3.6%

Shares of Merit Medical Systems stock opened at $82.50 on Friday. Merit Medical Systems, Inc. has a 1 year low of $78.12 and a 1 year high of $110.67. The company’s fifty day simple moving average is $84.92 and its 200-day simple moving average is $85.22. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 42.31, a PEG ratio of 2.16 and a beta of 0.61. The company has a current ratio of 4.28, a quick ratio of 2.86 and a debt-to-equity ratio of 0.48.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, Chairman Fred P. Lampropoulos sold 25,000 shares of the firm’s 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 sale, the chairman owned 1,029,955 shares in the company, valued at approximately $89,925,371.05. This trade represents a 2.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 60,000 shares of company stock worth $5,189,900 in the last 90 days. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

MMSI has been the subject of several analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $106.00 price objective on shares of Merit Medical Systems in a research note on Friday, November 14th. Needham & Company LLC reiterated a “buy” rating and set a $108.00 price target on shares of Merit Medical Systems in a research note on Friday, January 9th. Canaccord Genuity Group raised their price objective on Merit Medical Systems from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Robert W. Baird set a $108.00 target price on Merit Medical Systems in a research report on Tuesday, December 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Merit Medical Systems in a research report on Monday, December 29th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Merit Medical Systems 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.