Cibc World Markets Corp Buys New Stake in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Cibc World Markets Corp bought a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 5,355 shares of the medical instruments supplier's stock, valued at approximately $518,000.

Other institutional investors have also bought and sold shares of the company. FMR LLC grew its holdings in Merit Medical Systems by 70.1% during the 3rd quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier's stock valued at $155,879,000 after buying an additional 649,799 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Merit Medical Systems in the 4th quarter worth $48,926,000. Bryn Mawr Capital Management LLC bought a new position in shares of Merit Medical Systems in the 4th quarter worth $36,057,000. Two Sigma Advisers LP lifted its stake in shares of Merit Medical Systems by 218.9% during the 3rd quarter. Two Sigma Advisers LP now owns 445,500 shares of the medical instruments supplier's stock worth $44,029,000 after purchasing an additional 305,800 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Merit Medical Systems by 85.6% during the third quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier's stock valued at $56,921,000 after purchasing an additional 265,648 shares in the last quarter. Hedge funds and other institutional investors own 99.66% of the company's stock.

Insider Activity at Merit Medical Systems

In related news, insider Brian G. Lloyd sold 25,000 shares of the business's stock in a transaction on 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 completion of the transaction, the insider now directly owns 38,993 shares of the company's stock, 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 through this hyperlink. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $103.86, for a total value of $3,252,895.20. Following the sale, the chief executive officer now owns 1,086,028 shares in the company, valued at approximately $112,794,868.08. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,132 shares of company stock worth $11,139,521. 3.70% of the stock is currently owned by company insiders.

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Merit Medical Systems Trading Down 1.0 %

Merit Medical Systems stock traded down $1.04 during trading on Wednesday, hitting $103.70. The company had a trading volume of 450,055 shares, compared to its average volume of 425,415. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The company's 50 day simple moving average is $104.21 and its 200-day simple moving average is $100.92. Merit Medical Systems, Inc. has a 1-year low of $70.70 and a 1-year high of $111.45. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 50.83, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91.

Analyst Ratings Changes

MMSI has been the subject of several analyst reports. Wells Fargo & Company decreased their price target 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. 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 report on Wednesday, January 29th. Needham & Company LLC reduced their price target on Merit Medical Systems from $122.00 to $116.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Raymond James increased their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Tuesday, December 31st. Finally, Barrington Research dropped their target price on Merit Medical Systems from $115.00 to $111.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Two 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.