Merit Medical Systems, Inc. (NASDAQ:MMSI) Stake Boosted by Franklin Resources Inc.

Franklin Resources Inc. grew its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 19.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 665,495 shares of the medical instruments supplier's stock after purchasing an additional 106,100 shares during the quarter. Franklin Resources Inc. owned approximately 1.14% of Merit Medical Systems worth $64,367,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Louisiana State Employees Retirement System raised its holdings in shares of Merit Medical Systems by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier's stock worth $2,728,000 after purchasing an additional 100 shares during the period. Avantax Advisory Services Inc. boosted its stake in Merit Medical Systems by 4.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,347 shares of the medical instruments supplier's stock valued at $227,000 after acquiring an additional 103 shares during the period. Tidal Investments LLC grew its holdings in shares of Merit Medical Systems by 1.0% during the third quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier's stock valued at $1,028,000 after purchasing an additional 104 shares during the last quarter. Arizona State Retirement System raised its position in shares of Merit Medical Systems by 0.8% during the 4th quarter. Arizona State Retirement System now owns 16,869 shares of the medical instruments supplier's stock worth $1,632,000 after purchasing an additional 137 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in shares of Merit Medical Systems by 2.6% in the 3rd quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier's stock worth $735,000 after purchasing an additional 187 shares during the last quarter. Institutional investors own 99.66% of the company's stock.

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Merit Medical Systems Price Performance

MMSI stock traded up $0.04 on Tuesday, hitting $92.55. 173,643 shares of the company's stock traded hands, compared to its average volume of 465,659. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 45.40, a P/E/G ratio of 2.34 and a beta of 0.85. Merit Medical Systems, Inc. has a 1-year low of $70.70 and a 1-year high of $111.45. The stock has a fifty day moving average of $103.92 and a 200-day moving average of $101.19.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Raymond James increased their target price 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. Wells Fargo & Company dropped their price target on shares of Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Piper Sandler reissued an "overweight" rating and issued a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Needham & Company LLC reduced their price target on Merit Medical Systems from $122.00 to $116.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. initiated coverage on Merit Medical Systems in a report on Friday, March 28th. They set an "overweight" rating and a $120.00 price target on the stock. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Merit Medical Systems presently has an average rating of "Moderate Buy" and an average target price of $111.70.

Insiders Place Their Bets

In related news, insider Brian G. Lloyd sold 25,000 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the transaction, the insider now directly owns 38,993 shares of the company's stock, valued at approximately $3,879,803.50. The trade was a 39.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Raul Jr. Parra sold 12,451 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $98.81, for a total value of $1,230,283.31. Following the sale, the chief financial officer now owns 24,201 shares of the company's stock, 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. Insiders sold a total of 109,132 shares of company stock worth $11,139,521 over the last ninety days. 3.70% of the stock is currently owned by company insiders.

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.