Wellington Management Group LLP Takes $21.82 Million Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Wellington Management Group LLP purchased a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 225,636 shares of the medical instruments supplier's stock, valued at approximately $21,824,000. Wellington Management Group LLP owned about 0.39% of Merit Medical Systems at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MMSI. NewSquare Capital LLC bought a new position in shares of Merit Medical Systems during the fourth quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in Merit Medical Systems during the 4th quarter valued at approximately $52,000. Smartleaf Asset Management LLC grew its stake in Merit Medical Systems by 237.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier's stock worth $134,000 after buying an additional 977 shares during the last quarter. GAMMA Investing LLC increased its position in Merit Medical Systems by 14.7% in the fourth quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier's stock worth $144,000 after buying an additional 191 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake in Merit Medical Systems by 13.9% in the third quarter. TD Private Client Wealth LLC now owns 1,732 shares of the medical instruments supplier's stock valued at $171,000 after buying an additional 211 shares during the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, Director Stephen C. Evans sold 5,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the sale, the director now owns 4,657 shares in the company, valued at approximately $490,428.67. The trade was a 51.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian G. Lloyd sold 25,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now 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 disclosure for this sale can be found here. In the last three months, insiders sold 109,132 shares of company stock valued at $11,139,521. 3.70% of the stock is owned by insiders.

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Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock traded up $0.50 during trading on Friday, hitting $92.04. The stock had a trading volume of 749,192 shares, compared to its average volume of 480,543. The business has a fifty day moving average of $101.92 and a two-hundred day moving average of $100.86. The firm has a market cap of $5.44 billion, a P/E ratio of 45.12, a PEG ratio of 2.34 and a beta of 0.85. Merit Medical Systems, Inc. has a fifty-two week low of $70.70 and a fifty-two week high of $111.45. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

Wall Street Analyst Weigh In

Several research firms have recently commented on MMSI. Piper Sandler restated an "overweight" rating and set a $116.00 price target (up previously from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. JPMorgan Chase & Co. initiated coverage on shares of Merit Medical Systems in a research report on Friday, March 28th. They issued an "overweight" rating and a $120.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $116.00 price target on shares of Merit Medical Systems in a report on Wednesday. Barrington Research reissued an "outperform" rating and issued a $111.00 price objective on shares of Merit Medical Systems in a report on Friday. Finally, Wells Fargo & Company cut their target price on 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. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $114.33.

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.