Handelsbanken Fonder AB Grows Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Handelsbanken Fonder AB raised its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 13.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 217,209 shares of the medical instruments supplier’s stock after acquiring an additional 25,100 shares during the period. Handelsbanken Fonder AB owned approximately 0.37% of Merit Medical Systems worth $21,008,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Louisiana State Employees Retirement System raised its holdings in shares of Merit Medical Systems by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier’s stock valued at $2,728,000 after acquiring an additional 100 shares in the last quarter. Tidal Investments LLC increased its position in shares of Merit Medical Systems by 1.0% during the 3rd 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. Glenmede Trust Co. NA increased its position in shares of Merit Medical Systems by 0.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier’s stock valued at $2,830,000 after purchasing an additional 170 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Merit Medical Systems by 2.6% during the 3rd quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier’s stock valued at $735,000 after purchasing an additional 187 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Merit Medical Systems by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock valued at $144,000 after purchasing an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

MMSI opened at $103.16 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. Merit Medical Systems, Inc. has a 52-week low of $70.70 and a 52-week high of $111.45. The stock has a market capitalization of $6.01 billion, a PE ratio of 50.57, a price-to-earnings-growth ratio of 2.36 and a beta of 0.87. The stock’s 50 day moving average price is $102.63 and its 200-day moving average price is $99.46.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MMSI. Wells Fargo & Company upgraded Merit Medical Systems from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $103.00 to $120.00 in a research report on Wednesday, December 11th. Robert W. Baird increased their price objective on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Needham & Company LLC increased their price objective on Merit Medical Systems from $109.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Canaccord Genuity Group increased their price objective on Merit Medical Systems from $127.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $109.80.

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.