Rhumbline Advisers Sells 2,991 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Rhumbline Advisers trimmed its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 157,332 shares of the medical instruments supplier’s stock after selling 2,991 shares during the period. Rhumbline Advisers owned approximately 0.27% of Merit Medical Systems worth $15,217,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MMSI. Conestoga Capital Advisors LLC lifted its holdings in Merit Medical Systems by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier’s stock valued at $226,236,000 after purchasing an additional 38,780 shares during the last quarter. State Street Corp lifted its holdings in Merit Medical Systems by 0.7% during the 3rd quarter. State Street Corp now owns 2,231,701 shares of the medical instruments supplier’s stock valued at $220,559,000 after purchasing an additional 15,098 shares during the last quarter. FMR LLC lifted its holdings in Merit Medical Systems by 70.1% during the 3rd quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock valued at $155,879,000 after purchasing an additional 649,799 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Merit Medical Systems by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,357,265 shares of the medical instruments supplier’s stock valued at $134,165,000 after purchasing an additional 17,490 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Merit Medical Systems by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 727,340 shares of the medical instruments supplier’s stock valued at $71,883,000 after purchasing an additional 54,122 shares during the last quarter. 99.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

MMSI has been the subject of a number of research analyst reports. Robert W. Baird boosted their target price on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Raymond James boosted their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 31st. Wells Fargo & Company raised shares of Merit Medical Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $103.00 to $120.00 in a research note on Wednesday, December 11th. Canaccord Genuity Group boosted their target price on shares of Merit Medical Systems from $127.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Needham & Company LLC boosted their target price on shares of Merit Medical Systems from $109.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $109.80.

Merit Medical Systems Stock Down 2.4 %

Shares of NASDAQ:MMSI opened at $103.16 on Friday. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 50.57, a P/E/G ratio of 2.34 and a beta of 0.87. The company has a 50 day moving average of $102.64 and a 200-day moving average of $99.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. Merit Medical Systems, Inc. has a one year low of $70.70 and a one year high of $111.45.

About Merit Medical Systems

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.