Truist Financial Corp Has $1.21 Million Stake in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Truist Financial Corp boosted its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 16.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,454 shares of the medical instruments supplier’s stock after purchasing an additional 1,744 shares during the period. Truist Financial Corp’s holdings in Merit Medical Systems were worth $1,205,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. increased its holdings in Merit Medical Systems by 3.9% in the fourth quarter. Principal Financial Group Inc. now owns 312,020 shares of the medical instruments supplier’s stock valued at $30,179,000 after purchasing an additional 11,756 shares during the period. Principal Securities Inc. increased its holdings in Merit Medical Systems by 28.0% in the fourth quarter. Principal Securities Inc. now owns 2,342 shares of the medical instruments supplier’s stock valued at $227,000 after purchasing an additional 513 shares during the period. Congress Asset Management Co. increased its holdings in Merit Medical Systems by 1.8% in the fourth quarter. Congress Asset Management Co. now owns 600,686 shares of the medical instruments supplier’s stock valued at $58,098,000 after purchasing an additional 10,710 shares during the period. Louisiana State Employees Retirement System increased its holdings in Merit Medical Systems by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier’s stock valued at $2,728,000 after purchasing an additional 100 shares during the period. Finally, EULAV Asset Management boosted its position in Merit Medical Systems by 400.0% during the fourth quarter. EULAV Asset Management now owns 115,000 shares of the medical instruments supplier’s stock valued at $11,123,000 after acquiring an additional 92,000 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Raymond James upped their price target on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 31st. Needham & Company LLC cut their price target on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday. Piper Sandler reaffirmed 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. Barrington Research cut their price target on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company cut 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 report on Wednesday. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.78.

Merit Medical Systems Price Performance

MMSI stock opened at $102.04 on Friday. The stock has a market capitalization of $5.95 billion, a PE ratio of 50.02, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. The company’s 50-day moving average is $102.91 and its 200-day moving average is $99.96. 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 1 year low of $70.70 and a 1 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.