Allspring Global Investments Holdings LLC Has $6.70 Million Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Allspring Global Investments Holdings LLC decreased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 37.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,771 shares of the medical instruments supplier’s stock after selling 41,221 shares during the period. Allspring Global Investments Holdings LLC owned about 0.12% of Merit Medical Systems worth $6,698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MMSI. UniSuper Management Pty Ltd acquired a new position in shares of Merit Medical Systems during the 1st quarter worth $1,083,000. Quantbot Technologies LP grew its holdings in shares of Merit Medical Systems by 17,716.1% during the 1st quarter. Quantbot Technologies LP now owns 9,977 shares of the medical instruments supplier’s stock valued at $756,000 after purchasing an additional 9,921 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Merit Medical Systems by 36.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,144 shares of the medical instruments supplier’s stock valued at $1,638,000 after purchasing an additional 5,915 shares during the last quarter. BNP Paribas Financial Markets increased its position in Merit Medical Systems by 55.3% during the 1st quarter. BNP Paribas Financial Markets now owns 52,953 shares of the medical instruments supplier’s stock worth $4,011,000 after purchasing an additional 18,863 shares in the last quarter. Finally, Congress Wealth Management LLC DE bought a new position in Merit Medical Systems in the 1st quarter valued at approximately $5,502,000. 99.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Wells Fargo & Company boosted their price objective on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Bank of America increased their target price on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Canaccord Genuity Group boosted their price target on Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $105.00 price objective on shares of Merit Medical Systems in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.82.

Merit Medical Systems Trading Up 0.1 %

NASDAQ MMSI opened at $96.00 on Monday. The stock has a market capitalization of $5.59 billion, a P/E ratio of 48.00, a P/E/G ratio of 2.41 and a beta of 0.87. The business has a 50 day simple moving average of $96.11 and a 200 day simple moving average of $87.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64. Merit Medical Systems, Inc. has a one year low of $63.13 and a one year high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The company had revenue of $338.00 million during the quarter, compared to the consensus estimate of $334.94 million. Research analysts expect that Merit Medical Systems, Inc. will post 3.31 earnings per share for the current year.

Merit Medical Systems 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.