Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Purchased by Zions Bancorporation N.A.

Zions Bancorporation N.A. grew its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 19.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,428 shares of the medical instruments supplier's stock after buying an additional 7,358 shares during the period. Zions Bancorporation N.A. owned 0.08% of Merit Medical Systems worth $4,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

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Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Canaccord Genuity Group reduced their target price on Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Needham & Company LLC decreased their target price 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 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. JPMorgan Chase & Co. began coverage on Merit Medical Systems in a research note on Friday. They issued an "overweight" rating and a $120.00 target price on the stock. Finally, Raymond James upped 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 report on Tuesday, December 31st. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Merit Medical Systems has a consensus rating of "Moderate Buy" and a consensus target price of $111.70.

Insider Activity at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 12,451 shares of the business'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 completion of the transaction, the chief financial officer now owns 24,201 shares of the company's stock, valued at $2,391,300.81. The trade was a 33.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total transaction of $3,252,895.20. Following the transaction, the chief executive officer now directly owns 1,086,028 shares in the company, valued at $112,794,868.08. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,132 shares of company stock valued at $11,139,521. 3.70% of the stock is owned by insiders.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI traded up $0.67 during trading on Friday, reaching $103.94. The company had a trading volume of 569,855 shares, compared to its average volume of 450,221. 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 stock has a market capitalization of $6.12 billion, a PE ratio of 50.95, a price-to-earnings-growth 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 price of $104.30 and a two-hundred day moving average price of $101.03.

About Merit Medical Systems

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.