Zions Bancorporation N.A. Has $3.66 Million Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Zions Bancorporation N.A. raised its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 18.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,070 shares of the medical instruments supplier's stock after acquiring an additional 5,819 shares during the period. Zions Bancorporation N.A. owned 0.06% of Merit Medical Systems worth $3,664,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lisanti Capital Growth LLC bought a new stake in Merit Medical Systems during the third quarter worth approximately $845,000. Chartwell Investment Partners LLC increased its holdings in shares of Merit Medical Systems by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 41,706 shares of the medical instruments supplier's stock valued at $4,122,000 after buying an additional 328 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Merit Medical Systems in the third quarter valued at $580,000. Atria Investments Inc increased its holdings in shares of Merit Medical Systems by 25.5% in the third quarter. Atria Investments Inc now owns 10,461 shares of the medical instruments supplier's stock valued at $1,034,000 after buying an additional 2,127 shares in the last quarter. Finally, Impax Asset Management Group plc bought a new position in shares of Merit Medical Systems in the third quarter valued at $11,860,000. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 29,646 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total transaction of $2,905,900.92. Following the transaction, the chief financial officer now directly owns 16,361 shares of the company's stock, valued at approximately $1,603,705.22. This trade represents a 64.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.70% of the company's stock.

Merit Medical Systems Stock Performance

Shares of MMSI stock traded down $0.48 on Thursday, reaching $101.20. The stock had a trading volume of 335,138 shares, compared to its average volume of 441,234. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The firm's 50-day moving average is $97.62 and its two-hundred day moving average is $89.62. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 49.68, a P/E/G ratio of 2.59 and a beta of 0.89. Merit Medical Systems, Inc. has a 12 month low of $65.46 and a 12 month high of $105.46.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. The firm had revenue of $339.85 million for the quarter, compared to analysts' expectations of $334.60 million. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business's revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. On average, research analysts expect that Merit Medical Systems, Inc. will post 3.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Robert W. Baird increased their target price on Merit Medical Systems from $107.00 to $109.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Barrington Research restated an "outperform" rating and issued a $114.00 target price on shares of Merit Medical Systems in a report on Thursday, October 31st. Wells Fargo & Company increased their target price on Merit Medical Systems from $85.00 to $103.00 and gave the company an "equal weight" rating in a report on Monday, September 16th. Piper Sandler restated an "overweight" rating and issued a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Finally, StockNews.com downgraded shares of Merit Medical Systems from a "buy" rating to a "hold" rating in a research note on Sunday, November 3rd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Merit Medical Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.36.

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.