Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can grew its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 195.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,458 shares of the medical instruments supplier’s stock after acquiring an additional 15,530 shares during the quarter. Bank of Montreal Can’s holdings in Merit Medical Systems were worth $2,269,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MMSI. Louisiana State Employees Retirement System increased its position in Merit Medical Systems by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier’s stock worth $2,728,000 after purchasing an additional 100 shares in the last quarter. Avantax Advisory Services Inc. increased its position in shares of Merit Medical Systems by 4.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,347 shares of the medical instruments supplier’s stock worth $227,000 after acquiring an additional 103 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Merit Medical Systems by 1.0% in the 3rd quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier’s stock valued at $1,028,000 after acquiring an additional 104 shares during the period. Arizona State Retirement System lifted its holdings in shares of Merit Medical Systems by 0.8% during the 4th quarter. Arizona State Retirement System now owns 16,869 shares of the medical instruments supplier’s stock valued at $1,632,000 after acquiring an additional 137 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Merit Medical Systems by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock worth $144,000 after purchasing an additional 191 shares during the period. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Merit Medical Systems Price Performance

MMSI opened at $90.57 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. Merit Medical Systems, Inc. has a 1-year low of $70.70 and a 1-year high of $111.45. The company has a 50-day moving average of $100.89 and a 200-day moving average of $100.72. The company has a market capitalization of $5.35 billion, a P/E ratio of 44.40, a PEG ratio of 2.34 and a beta of 0.85.

Insider Activity at Merit Medical Systems

In other news, CEO Fred P. Lampropoulos sold 31,320 shares of Merit Medical Systems stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total value of $3,252,895.20. Following the completion of the transaction, the chief executive officer now directly owns 1,086,028 shares of the company’s stock, valued at approximately $112,794,868.08. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen C. Evans sold 5,000 shares of the business’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 directly owns 4,657 shares of the company’s stock, valued at approximately $490,428.67. This represents a 51.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,132 shares of company stock valued at $11,139,521 over the last three months. 3.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on MMSI. Piper Sandler reissued an “overweight” rating and issued a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and set a $116.00 target price on shares of Merit Medical Systems in a report on Wednesday, April 9th. Raymond James upped their price target on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 31st. JPMorgan Chase & Co. assumed coverage on shares of Merit Medical Systems in a research note on Friday, March 28th. They set an “overweight” rating and a $120.00 price objective on the stock. Finally, Wells Fargo & Company decreased their target price on shares of 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. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $114.33.

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.