Bank of Montreal Can Buys 15,530 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Bank of Montreal Can increased its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 195.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 23,458 shares of the medical instruments supplier's stock after acquiring an additional 15,530 shares during the period. Bank of Montreal Can's holdings in Merit Medical Systems were worth $2,269,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. NewSquare Capital LLC acquired a new position in Merit Medical Systems during the fourth quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Merit Medical Systems during the 4th quarter worth $52,000. Federated Hermes Inc. grew its stake in Merit Medical Systems by 139.1% in the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock valued at $63,000 after buying an additional 381 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in 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 worth $134,000 after acquiring an additional 977 shares during the period. Finally, GAMMA Investing LLC lifted 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 acquiring an additional 191 shares during the last quarter. 99.66% of the stock is owned by institutional investors.

Insider Activity

In other Merit Medical Systems news, Director Stephen C. Evans sold 5,000 shares of the 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 owns 4,657 shares of the company's stock, valued at $490,428.67. This represents a 51.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $103.86, for a total transaction 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. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,132 shares of company stock worth $11,139,521. Company insiders own 3.70% of the company's stock.

Merit Medical Systems Price Performance

NASDAQ MMSI traded up $0.32 on Friday, reaching $90.89. The company's stock had a trading volume of 627,778 shares, compared to its average volume of 485,738. The firm has a market cap of $5.37 billion, a PE ratio of 44.55, a price-to-earnings-growth ratio of 2.34 and a beta of 0.85. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 52 week low of $71.57 and a 52 week high of $111.45. The business has a 50-day moving average price of $100.15 and a 200 day moving average price of $100.62.

Analysts Set New Price Targets

Several research firms recently weighed in on MMSI. JPMorgan Chase & Co. assumed coverage on Merit Medical Systems in a research report on Friday, March 28th. They set an "overweight" rating and a $120.00 price objective for the company. Wells Fargo & Company dropped their price target on Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Raymond James raised their price objective on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 31st. Needham & Company LLC reiterated a "buy" rating and set a $116.00 target price on shares of Merit Medical Systems in a research note on Wednesday, April 9th. Finally, Piper Sandler restated an "overweight" rating and issued a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Merit Medical Systems presently has a consensus rating of "Moderate Buy" and an average 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.