Bryn Mawr Capital Management LLC Takes $203,000 Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Bryn Mawr Capital Management LLC purchased a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,100 shares of the medical instruments supplier’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMSI. FMR LLC increased its stake in shares of Merit Medical Systems by 70.1% in the third quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock worth $155,879,000 after buying an additional 649,799 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Merit Medical Systems by 218.9% during the 3rd quarter. Two Sigma Advisers LP now owns 445,500 shares of the medical instruments supplier’s stock worth $44,029,000 after acquiring an additional 305,800 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Merit Medical Systems by 85.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier’s stock worth $56,921,000 after purchasing an additional 265,648 shares during the last quarter. Iron Triangle Partners LP bought a new stake in shares of Merit Medical Systems in the 3rd quarter worth about $25,004,000. Finally, abrdn plc raised its stake in shares of Merit Medical Systems by 49.7% in the 4th quarter. abrdn plc now owns 546,146 shares of the medical instruments supplier’s stock valued at $52,823,000 after purchasing an additional 181,228 shares in the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $98.52 on Friday. The firm’s 50 day moving average is $102.83 and its two-hundred day moving average is $99.88. The firm has a market capitalization of $5.74 billion, a P/E ratio of 48.29, a PEG ratio of 2.34 and a beta of 0.87. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 52 week low of $70.70 and a 52 week high of $111.45.

Analysts Set New Price Targets

Several brokerages have recently commented on MMSI. Needham & Company LLC decreased their target price on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday. Canaccord Genuity Group decreased their price objective on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday. Raymond James increased their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 31st. Wells Fargo & Company reduced 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. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $116.00 price objective (up previously from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.40.

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.