Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,496 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 23.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,347 shares of the medical instruments supplier’s stock after acquiring an additional 2,496 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Merit Medical Systems were worth $1,014,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Louisiana State Employees Retirement System bought a new stake in shares of Merit Medical Systems in the fourth quarter worth about $2,195,000. Conestoga Capital Advisors LLC grew its holdings in shares of Merit Medical Systems by 0.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,151,938 shares of the medical instruments supplier’s stock worth $163,461,000 after buying an additional 11,995 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Merit Medical Systems during the fourth quarter worth about $206,000. Diversified Trust Co grew its holdings in shares of Merit Medical Systems by 5.6% during the fourth quarter. Diversified Trust Co now owns 10,716 shares of the medical instruments supplier’s stock worth $814,000 after buying an additional 566 shares in the last quarter. Finally, Tompkins Financial Corp bought a new position in shares of Merit Medical Systems during the fourth quarter worth about $38,000. 99.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on MMSI. Barrington Research reiterated an “outperform” rating and set a $98.00 price objective on shares of Merit Medical Systems in a report on Tuesday, April 16th. Canaccord Genuity Group increased their price objective on Merit Medical Systems from $102.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Raymond James increased their price objective on Merit Medical Systems from $84.00 to $89.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Needham & Company LLC reissued a “buy” rating and set a $88.00 price target on shares of Merit Medical Systems in a research report on Thursday, April 11th. Finally, Piper Sandler increased their price target on Merit Medical Systems from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, January 12th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Merit Medical Systems currently has an average rating of “Moderate Buy” and an average target price of $93.78.

Merit Medical Systems Stock Performance

Shares of NASDAQ MMSI opened at $73.78 on Friday. Merit Medical Systems, Inc. has a 52 week low of $62.58 and a 52 week high of $85.62. The stock has a market capitalization of $4.28 billion, a PE ratio of 45.54, a price-to-earnings-growth ratio of 2.04 and a beta of 0.89. The stock has a 50 day moving average price of $74.52 and a 200 day moving average price of $73.76. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.95 and a current ratio of 5.45.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. Merit Medical Systems had a return on equity of 14.63% and a net margin of 7.51%. The company had revenue of $324.52 million during the quarter, compared to analysts’ expectations of $320.66 million. During the same period last year, the firm posted $0.79 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. Analysts predict that Merit Medical Systems, Inc. will post 3.31 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Joseph Wright sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $75.68, for a total value of $1,892,000.00. Following the completion of the sale, the insider now directly owns 42,223 shares of the company’s stock, valued at $3,195,436.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Joseph Wright sold 25,000 shares of Merit Medical Systems stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $75.68, for a total transaction of $1,892,000.00. Following the completion of the sale, the insider now directly owns 42,223 shares of the company’s stock, valued at approximately $3,195,436.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas James Gunderson sold 18,157 shares of Merit Medical Systems stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $76.03, for a total value of $1,380,476.71. Following the sale, the director now directly owns 19,257 shares of the company’s stock, valued at $1,464,109.71. The disclosure for this sale can be found here. Insiders sold a total of 49,637 shares of company stock valued at $3,751,673 over the last three months. Insiders own 3.70% of the company’s stock.

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.