Peak Retirement Planning Inc. Has $2 Million Stake in Merit Medical Systems, Inc. $MMSI

Peak Retirement Planning Inc. grew its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 55.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,978 shares of the medical instruments supplier’s stock after purchasing an additional 8,552 shares during the quarter. Peak Retirement Planning Inc.’s holdings in Merit Medical Systems were worth $1,996,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in MMSI. Assenagon Asset Management S.A. acquired a new stake in shares of Merit Medical Systems during the 3rd quarter worth about $1,644,000. Norges Bank bought a new stake in Merit Medical Systems during the second quarter worth about $53,697,000. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Merit Medical Systems by 69.7% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 301,718 shares of the medical instruments supplier’s stock worth $25,112,000 after buying an additional 123,912 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Merit Medical Systems by 11.9% in the second quarter. Westwood Holdings Group Inc. now owns 768,970 shares of the medical instruments supplier’s stock valued at $71,883,000 after acquiring an additional 81,469 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Merit Medical Systems by 5.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 244,163 shares of the medical instruments supplier’s stock worth $22,824,000 after acquiring an additional 12,256 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Insider Buying and Selling at Merit Medical Systems

In other news, Chairman Fred P. Lampropoulos sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $87.31, for a total value of $2,182,750.00. Following the completion of the sale, the chairman directly owned 1,029,955 shares of the company’s stock, valued at $89,925,371.05. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders have sold 60,000 shares of company stock worth $5,189,900. 3.70% of the stock is owned by insiders.

Merit Medical Systems Price Performance

MMSI stock opened at $81.61 on Tuesday. The stock has a 50-day moving average price of $85.46 and a two-hundred day moving average price of $85.33. Merit Medical Systems, Inc. has a 1 year low of $78.12 and a 1 year high of $110.67. The stock has a market cap of $4.84 billion, a PE ratio of 41.85, a price-to-earnings-growth ratio of 2.20 and a beta of 0.61. The company has a current ratio of 4.28, a quick ratio of 2.86 and a debt-to-equity ratio of 0.48.

Wall Street Analysts Forecast Growth

MMSI has been the topic of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and set a $109.00 price objective (up previously from $105.00) on shares of Merit Medical Systems in a report on Friday, October 31st. Robert W. Baird set a $108.00 price target on shares of Merit Medical Systems in a research note on Tuesday, December 16th. Wells Fargo & Company dropped their price objective on shares of Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday, November 14th. Barrington Research reiterated an “outperform” rating and issued a $106.00 price objective on shares of Merit Medical Systems in a research report on Friday, November 14th. Finally, Zacks Research cut Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.88.

Merit Medical Systems Profile

Merit Medical Systems, Inc is a global manufacturer and marketer of a broad range of medical devices used in diagnostic and interventional procedures. The company’s product portfolio encompasses vascular access, drainage, embolotherapy, and interventional oncology devices, as well as radiofrequency ablation systems and hemostasis solutions. These products serve physicians and hospitals in critical care settings and support minimally invasive treatment options across multiple specialties, including cardiology, radiology, oncology, neurology and endoscopy.

Founded in 1987 by Fred Lampropoulos, Merit Medical Systems has grown through both organic development and targeted acquisitions to expand its technology offerings and geographic reach.