Zions Bancorporation National Association UT Sells 6,148 Shares of Merit Medical Systems, Inc. $MMSI

Zions Bancorporation National Association UT cut its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 13.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,828 shares of the medical instruments supplier’s stock after selling 6,148 shares during the period. Zions Bancorporation National Association UT owned about 0.07% of Merit Medical Systems worth $3,398,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC increased its position in Merit Medical Systems by 7.3% during the first quarter. AQR Capital Management LLC now owns 16,361 shares of the medical instruments supplier’s stock valued at $1,730,000 after acquiring an additional 1,114 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Merit Medical Systems by 16.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 719,313 shares of the medical instruments supplier’s stock valued at $76,039,000 after purchasing an additional 103,878 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Merit Medical Systems by 2.5% in the 2nd quarter. Yousif Capital Management LLC now owns 22,568 shares of the medical instruments supplier’s stock worth $2,110,000 after purchasing an additional 549 shares during the period. Angeles Wealth Management LLC boosted its holdings in shares of Merit Medical Systems by 13.8% in the second quarter. Angeles Wealth Management LLC now owns 2,351 shares of the medical instruments supplier’s stock worth $220,000 after buying an additional 285 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in Merit Medical Systems by 22.9% during the second quarter. William Blair Investment Management LLC now owns 739,600 shares of the medical instruments supplier’s stock valued at $69,138,000 after buying an additional 137,956 shares during the period. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Robert W. Baird set a $108.00 price target on shares of Merit Medical Systems in a research note on Tuesday, December 16th. Weiss Ratings restated a “hold (c)” rating on shares of Merit Medical Systems in a research report on Monday, December 29th. Zacks Research downgraded Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Barrington Research reiterated an “outperform” rating and set a $106.00 price objective on shares of Merit Medical Systems in a research note on Friday, November 14th. Finally, BTIG Research started coverage on shares of Merit Medical Systems in a report on Friday, February 6th. They issued a “buy” rating and a $107.00 target price for the company. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $81.66 on Monday. The company has a quick ratio of 2.86, a current ratio of 4.28 and a debt-to-equity ratio of 0.48. Merit Medical Systems, Inc. has a twelve month low of $77.62 and a twelve month high of $110.10. The business has a 50-day moving average price of $84.56 and a 200-day moving average price of $85.12. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 41.88, a price-to-earnings-growth ratio of 2.22 and a beta of 0.61.

Insider Activity

In related news, Chairman Fred P. Lampropoulos sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $88.04, for a total transaction of $880,400.00. Following the completion of the transaction, the chairman directly owned 1,019,955 shares of the company’s stock, valued at approximately $89,796,838.20. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 60,000 shares of company stock worth $5,189,900 in the last quarter. Company insiders own 3.70% of the company’s stock.

About Merit Medical Systems

Merit Medical Systems, Inc is a global manufacturer and marketer of a broad range of medical devices used in diagnostic and interventional procedures. The company’s product portfolio encompasses vascular access, drainage, embolotherapy, and interventional oncology devices, as well as radiofrequency ablation systems and hemostasis solutions. These products serve physicians and hospitals in critical care settings and support minimally invasive treatment options across multiple specialties, including cardiology, radiology, oncology, neurology and endoscopy.

Founded in 1987 by Fred Lampropoulos, Merit Medical Systems has grown through both organic development and targeted acquisitions to expand its technology offerings and geographic reach.