M&T Bank Corp Has $2.22 Million Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

M&T Bank Corp grew its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 65.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,223 shares of the medical instruments supplier's stock after acquiring an additional 11,512 shares during the period. M&T Bank Corp owned about 0.05% of Merit Medical Systems worth $2,219,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Valued Wealth Advisors LLC purchased a new stake in Merit Medical Systems in the fourth quarter valued at approximately $29,000. Tompkins Financial Corp acquired a new position in shares of Merit Medical Systems during the fourth quarter worth $38,000. Headlands Technologies LLC acquired a new position in shares of Merit Medical Systems during the third quarter worth $41,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Merit Medical Systems during the third quarter worth $67,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Merit Medical Systems during the fourth quarter worth $206,000. Hedge funds and other institutional investors own 99.66% of the company's stock.

Insider Transactions at Merit Medical Systems

In other news, Director Thomas James Gunderson sold 18,157 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $76.03, for a total value of $1,380,476.71. Following the completion of the sale, the director now directly owns 19,257 shares of the company's stock, valued at $1,464,109.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Raul Jr. Parra sold 6,480 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total value of $479,196.00. Following the transaction, the chief financial officer now owns 12,007 shares in the company, valued at $887,917.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas James Gunderson sold 18,157 shares of the 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 completion of the transaction, the director now owns 19,257 shares in the company, valued at approximately $1,464,109.71. The disclosure for this sale can be found here. Insiders sold 49,637 shares of company stock valued at $3,751,673 over the last three months. 3.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MMSI shares. StockNews.com raised shares of Merit Medical Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 2nd. Raymond James upped their price target on shares of Merit Medical Systems from $84.00 to $89.00 and gave the company an "outperform" rating in a report on Tuesday, January 30th. Canaccord Genuity Group dropped their target price on shares of Merit Medical Systems from $112.00 to $102.00 and set a "buy" rating on the stock in a report on Wednesday, May 1st. Piper Sandler upped their price target on shares of Merit Medical Systems from $95.00 to $97.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 1st. Finally, Needham & Company LLC lowered their price target on shares of Merit Medical Systems from $88.00 to $85.00 and set a "buy" rating for the company in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Merit Medical Systems presently has an average rating of "Moderate Buy" and an average price target of $92.78.

Merit Medical Systems Trading Up 1.3 %

MMSI stock traded up $1.00 during mid-day trading on Thursday, reaching $80.11. 218,229 shares of the stock traded hands, compared to its average volume of 480,079. The company has a current ratio of 6.03, a quick ratio of 4.38 and a debt-to-equity ratio of 0.65. Merit Medical Systems, Inc. has a 52-week low of $62.58 and a 52-week high of $85.62. The company has a market cap of $4.65 billion, a P/E ratio of 45.82, a P/E/G ratio of 2.20 and a beta of 0.91. The stock's fifty day moving average is $74.16 and its 200-day moving average is $74.46.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.06. The business had revenue of $323.51 million during the quarter, compared to analyst estimates of $315.57 million. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The firm's revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. As a group, sell-side analysts expect that Merit Medical Systems, Inc. will post 3.33 earnings per share for the current year.

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.