Zions Bancorporation National Association UT Decreases Stake in Merit Medical Systems, Inc. $MMSI

Zions Bancorporation National Association UT cut its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 13.1% in the third quarter, according to the company in its most recent disclosure 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’s holdings in Merit Medical Systems were worth $3,398,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new position in shares of Merit Medical Systems during the 3rd quarter valued at approximately $37,000. EverSource Wealth Advisors LLC raised its stake in Merit Medical Systems by 745.9% during the second quarter. EverSource Wealth Advisors LLC now owns 922 shares of the medical instruments supplier’s stock valued at $86,000 after purchasing an additional 813 shares in the last quarter. First Horizon Corp bought a new position in Merit Medical Systems during the third quarter valued at $78,000. Palouse Capital Management Inc. lifted its position in Merit Medical Systems by 27.5% during the third quarter. Palouse Capital Management Inc. now owns 1,076 shares of the medical instruments supplier’s stock valued at $90,000 after purchasing an additional 232 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Merit Medical Systems by 28.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,663 shares of the medical instruments supplier’s stock worth $134,000 after buying an additional 371 shares in the last quarter. Institutional investors own 99.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MMSI. Robert W. Baird set a $108.00 target price on shares of Merit Medical Systems in a research report on Tuesday, December 16th. BTIG Research began coverage on Merit Medical Systems in a research report on Friday, February 6th. They set a “buy” rating and a $107.00 price objective on the stock. Wells Fargo & Company lowered their price objective on Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating for the company in a research note on Friday, November 14th. Zacks Research downgraded Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Merit Medical Systems in a research report on Monday, December 29th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Insider Activity at Merit Medical Systems

In related news, Chairman Fred P. Lampropoulos sold 25,000 shares of Merit Medical Systems stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $87.31, for a total transaction of $2,182,750.00. Following the completion of the sale, the chairman owned 1,029,955 shares in the company, valued at $89,925,371.05. This trade represents a 2.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 60,000 shares of company stock valued at $5,189,900 in the last quarter. Corporate insiders own 3.70% of the company’s stock.

Merit Medical Systems Price Performance

MMSI opened at $81.66 on Monday. The business has a fifty day moving average of $84.56 and a 200 day moving average of $85.12. The stock has a market cap of $4.84 billion, a P/E ratio of 41.88, a PEG ratio of 2.22 and a beta of 0.61. 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 52-week low of $77.62 and a 52-week high of $110.10.

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.