Fisher Asset Management LLC Has $21.68 Million Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Fisher Asset Management LLC increased its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 224,181 shares of the medical instruments supplier’s stock after purchasing an additional 2,491 shares during the quarter. Fisher Asset Management LLC’s holdings in Merit Medical Systems were worth $21,683,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MMSI. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Merit Medical Systems in the 3rd quarter valued at about $325,000. Farther Finance Advisors LLC grew its stake in shares of Merit Medical Systems by 32.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock valued at $104,000 after buying an additional 260 shares during the period. Van ECK Associates Corp acquired a new stake in shares of Merit Medical Systems in the 3rd quarter valued at about $718,000. QRG Capital Management Inc. grew its stake in shares of Merit Medical Systems by 16.9% in the 3rd quarter. QRG Capital Management Inc. now owns 8,572 shares of the medical instruments supplier’s stock valued at $847,000 after buying an additional 1,240 shares during the period. Finally, Impax Asset Management Group plc acquired a new stake in shares of Merit Medical Systems in the 3rd quarter valued at about $11,860,000. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Merit Medical Systems Price Performance

Merit Medical Systems stock opened at $103.03 on Tuesday. Merit Medical Systems, Inc. has a 52 week low of $70.70 and a 52 week high of $111.45. The company’s 50 day moving average price is $103.02 and its two-hundred day moving average price is $100.18. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The stock has a market cap of $6.06 billion, a P/E ratio of 50.51, a P/E/G ratio of 2.34 and a beta of 0.87.

Wall Street Analyst Weigh In

MMSI has been the subject of several research reports. Barrington Research reduced their target price on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Needham & Company LLC cut their price target on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company cut their price target on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Raymond James lifted their price target on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 31st. Finally, Canaccord Genuity Group cut their price target on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Merit Medical Systems currently has an average rating of “Moderate Buy” and a consensus target price of $110.78.

Insiders Place Their Bets

In related news, CFO Raul Jr. Parra sold 12,451 shares of Merit Medical Systems stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $98.81, for a total value of $1,230,283.31. Following the sale, the chief financial officer now owns 24,201 shares of the company’s stock, valued at approximately $2,391,300.81. The trade was a 33.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian G. Lloyd sold 25,000 shares of Merit Medical Systems stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the completion of the sale, the insider now directly owns 38,993 shares in the company, valued at $3,879,803.50. This trade represents a 39.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

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.