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

Handelsbanken Fonder AB grew its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 13.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 217,209 shares of the medical instruments supplier’s stock after buying an additional 25,100 shares during the period. Handelsbanken Fonder AB’s holdings in Merit Medical Systems were worth $21,008,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Creative Planning grew its stake in Merit Medical Systems by 26.9% in the third quarter. Creative Planning now owns 19,053 shares of the medical instruments supplier’s stock worth $1,883,000 after purchasing an additional 4,033 shares during the period. International Assets Investment Management LLC purchased a new stake in Merit Medical Systems in the third quarter worth $21,156,000. Assenagon Asset Management S.A. purchased a new stake in Merit Medical Systems in the third quarter worth $9,182,000. Dakota Wealth Management grew its stake in Merit Medical Systems by 42.9% in the third quarter. Dakota Wealth Management now owns 4,486 shares of the medical instruments supplier’s stock worth $443,000 after purchasing an additional 1,347 shares during the period. Finally, Mount Yale Investment Advisors LLC purchased a new stake in Merit Medical Systems in the third quarter worth $309,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $103.16 on Friday. 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 business has a 50-day simple moving average of $102.63 and a two-hundred day simple moving average of $99.46. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 50.57, a PEG ratio of 2.36 and a beta of 0.87. Merit Medical Systems, Inc. has a 52 week low of $70.70 and a 52 week high of $111.45.

Analyst Ratings Changes

Several equities research analysts have commented on the company. StockNews.com downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Barrington Research boosted their target price on Merit Medical Systems from $114.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Wells Fargo & Company raised 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 report on Wednesday, December 11th. Raymond James boosted their target price on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 31st. Finally, Canaccord Genuity Group boosted their target price on Merit Medical Systems from $127.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Merit Medical Systems currently has an average rating of “Moderate Buy” and a consensus price target of $109.80.

Merit Medical Systems 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.