Cibc World Markets Corp Takes $518,000 Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Cibc World Markets Corp bought a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 5,355 shares of the medical instruments supplier’s stock, valued at approximately $518,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewSquare Capital LLC acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Merit Medical Systems in the fourth quarter worth about $52,000. Harvest Fund Management Co. Ltd acquired a new stake in Merit Medical Systems in the third quarter worth about $120,000. Smartleaf Asset Management LLC increased its position in Merit Medical Systems by 237.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock worth $134,000 after purchasing an additional 977 shares during the period. Finally, GAMMA Investing LLC increased its position in Merit Medical Systems by 14.7% in the fourth 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 institutional investors and hedge funds.

Insider Activity

In other news, insider Brian G. Lloyd sold 25,000 shares of Merit Medical Systems stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the transaction, the insider now owns 38,993 shares in the company, valued at $3,879,803.50. The trade was a 39.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen C. Evans sold 5,000 shares of Merit Medical Systems stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $105.31, for a total value of $526,550.00. Following the transaction, the director now owns 4,657 shares in the company, valued at $490,428.67. This trade represents a 51.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,132 shares of company stock worth $11,139,521 in the last 90 days. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

MMSI has been the subject of a number of research reports. Piper Sandler reiterated 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. Canaccord Genuity Group lowered 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. Barrington Research lowered their price objective on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company reduced their target price on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Raymond James raised 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. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Merit Medical Systems has an average rating of “Moderate Buy” and an average target price of $110.78.

Merit Medical Systems Trading Up 0.4 %

NASDAQ:MMSI opened at $101.68 on Friday. Merit Medical Systems, Inc. has a fifty-two week low of $70.70 and a fifty-two week high of $111.45. 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 stock has a market capitalization of $5.98 billion, a PE ratio of 49.84, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91. The business’s 50-day simple moving average is $103.93 and its 200-day simple moving average is $100.78.

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.