Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 23.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,846 shares of the medical instruments supplier’s stock after buying an additional 3,819 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Merit Medical Systems were worth $1,920,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MMSI. NewSquare Capital LLC purchased a new position in Merit Medical Systems in the 4th quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Merit Medical Systems during the 4th quarter worth about $52,000. Harvest Fund Management Co. Ltd acquired a new stake in Merit Medical Systems in the 3rd quarter valued at about $120,000. Smartleaf Asset Management LLC boosted its stake in shares of Merit Medical Systems by 237.7% in the 4th 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 grew its position in shares of Merit Medical Systems by 14.7% during the fourth quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock worth $144,000 after buying an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Insider Activity

In related news, insider Brian G. Lloyd sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $102.90, for a total transaction of $3,087,000.00. Following the transaction, the insider now owns 38,945 shares of the company’s stock, valued at $4,007,440.50. This trade represents a 43.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Raul Jr. Parra sold 12,451 shares of the company’s 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 directly owns 24,201 shares of the company’s stock, valued at approximately $2,391,300.81. This represents a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,132 shares of company stock valued at $11,139,521 in the last ninety days. 3.70% of the stock is currently owned by company insiders.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI opened at $100.69 on Tuesday. The stock has a market cap of $5.92 billion, a P/E ratio of 49.36, a P/E/G ratio of 2.34 and a beta of 0.91. Merit Medical Systems, Inc. has a twelve month low of $70.70 and a twelve month high of $111.45. The stock has a 50 day moving average of $103.61 and a two-hundred day moving average of $100.68. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Needham & Company LLC decreased their price target on shares of 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 decreased their price objective on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Raymond James increased their target price on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 31st. Barrington Research decreased their price target on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group dropped their price objective on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.78.

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.