Rockefeller Capital Management L.P. Has $54.53 Million Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Rockefeller Capital Management L.P. trimmed its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 12.1% in the 4th quarter, HoldingsChannel reports. The firm owned 563,899 shares of the medical instruments supplier’s stock after selling 77,806 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Merit Medical Systems were worth $54,528,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. NewSquare Capital LLC acquired a new stake in Merit Medical Systems during the 4th quarter valued at $32,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Merit Medical Systems during the fourth quarter valued at $52,000. Federated Hermes Inc. grew its holdings in shares of Merit Medical Systems by 139.1% during the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock valued at $63,000 after buying an additional 381 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Merit Medical Systems by 237.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock valued at $134,000 after buying an additional 977 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Merit Medical Systems by 14.7% in the 4th quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock worth $144,000 after acquiring an additional 191 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Trading Up 0.5 %

Merit Medical Systems stock opened at $92.04 on Friday. Merit Medical Systems, Inc. has a one year low of $70.70 and a one year high of $111.45. The company’s fifty day moving average price is $101.92 and its two-hundred day moving average price is $100.86. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 45.12, a PEG ratio of 2.34 and a beta of 0.85.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MMSI. JPMorgan Chase & Co. started coverage on Merit Medical Systems in a report on Friday, March 28th. They issued an “overweight” rating and a $120.00 target price on the stock. Barrington Research reiterated an “outperform” rating and issued a $111.00 price objective on shares of Merit Medical Systems in a research note on Friday. Piper Sandler reissued an “overweight” rating and set a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $116.00 price target on shares of Merit Medical Systems in a research note on Wednesday. Finally, Canaccord Genuity Group reduced their price objective on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.33.

Insider Transactions at Merit Medical Systems

In related news, insider Brian G. Lloyd sold 25,000 shares of Merit Medical Systems stock in a transaction on Friday, February 28th. The shares were sold at an average price of $99.50, for a total value of $2,487,500.00. Following the transaction, the insider now owns 38,993 shares in the company, valued at $3,879,803.50. This trade represents a 39.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen C. Evans sold 5,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $105.31, for a total transaction of $526,550.00. Following the sale, the director now owns 4,657 shares of the company’s stock, valued at $490,428.67. This trade represents a 51.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,132 shares of company stock worth $11,139,521. 3.70% of the stock is owned by corporate insiders.

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.