Cibc World Markets Corp Acquires New Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Cibc World Markets Corp acquired a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,355 shares of the medical instruments supplier’s stock, valued at approximately $518,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Envestnet Portfolio Solutions Inc. raised its stake in shares of Merit Medical Systems by 29.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,391 shares of the medical instruments supplier’s stock valued at $521,000 after purchasing an additional 1,215 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Merit Medical Systems by 7.2% during the fourth quarter. Natixis Advisors LLC now owns 72,435 shares of the medical instruments supplier’s stock valued at $7,006,000 after purchasing an additional 4,891 shares in the last quarter. Swiss National Bank raised its stake in shares of Merit Medical Systems by 0.9% during the fourth quarter. Swiss National Bank now owns 114,500 shares of the medical instruments supplier’s stock valued at $11,074,000 after purchasing an additional 1,000 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in shares of Merit Medical Systems by 4.6% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,347 shares of the medical instruments supplier’s stock valued at $227,000 after purchasing an additional 103 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Merit Medical Systems by 0.7% during the fourth quarter. HighTower Advisors LLC now owns 55,844 shares of the medical instruments supplier’s stock valued at $5,401,000 after purchasing an additional 401 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 12,451 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the completion of the transaction, the chief financial officer now directly owns 24,201 shares in the company, valued at $2,391,300.81. This represents a 33.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian G. Lloyd sold 25,000 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $99.50, for a total value of $2,487,500.00. Following the transaction, the insider now owns 38,993 shares of the company’s stock, valued at $3,879,803.50. This represents a 39.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,132 shares of company stock worth $11,139,521 over the last three months. 3.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MMSI has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Needham & Company LLC cut their price target on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Barrington Research cut their price target on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Canaccord Genuity Group cut their price target on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, Piper Sandler reissued an “overweight” rating and issued a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.78.

Merit Medical Systems Stock Up 0.4 %

Shares of MMSI stock opened at $101.68 on Friday. The stock has a market cap of $5.98 billion, a P/E ratio of 49.84, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91. Merit Medical Systems, Inc. has a one year low of $70.70 and a one year high of $111.45. The stock has a fifty day moving average price of $103.93 and a 200 day moving average price of $100.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

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.