Strs Ohio lowered its stake in Merit Medical Systems Inc. (NASDAQ:MMSI) by 3.6% during the third quarter, Holdings Channel reports. The firm owned 34,600 shares of the company’s stock after selling 1,300 shares during the period. Strs Ohio owned approximately 0.08% of Merit Medical Systems worth $840,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in MMSI. American Capital Management Inc. bought a new position in Merit Medical Systems during the third quarter valued at approximately $7,158,000. Bank of Montreal Can raised its position in Merit Medical Systems by 296.8% in the third quarter. Bank of Montreal Can now owns 266,744 shares of the company’s stock valued at $6,480,000 after buying an additional 199,512 shares during the period. Macquarie Group Ltd. raised its position in Merit Medical Systems by 27.5% in the second quarter. Macquarie Group Ltd. now owns 874,579 shares of the company’s stock valued at $17,343,000 after buying an additional 188,865 shares during the period. Vanguard Group Inc. raised its position in Merit Medical Systems by 4.9% in the second quarter. Vanguard Group Inc. now owns 3,474,735 shares of the company’s stock valued at $68,904,000 after buying an additional 162,933 shares during the period. Finally, Frontier Capital Management Co. LLC raised its position in Merit Medical Systems by 21.6% in the second quarter. Frontier Capital Management Co. LLC now owns 867,852 shares of the company’s stock valued at $17,210,000 after buying an additional 154,225 shares during the period. 85.75% of the stock is currently owned by hedge funds and other institutional investors.
Merit Medical Systems Inc. (NASDAQ:MMSI) opened at 22.00 on Monday. The firm has a 50 day moving average price of $23.95 and a 200-day moving average price of $21.68. Merit Medical Systems Inc. has a 12 month low of $15.47 and a 12 month high of $25.10. The firm has a market capitalization of $977.81 million, a price-to-earnings ratio of 52.38 and a beta of 0.74.
Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm had revenue of $157 million for the quarter, compared to analyst estimates of $155.06 million. Merit Medical Systems had a return on equity of 8.85% and a net margin of 3.25%. Merit Medical Systems’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 earnings per share. On average, equities analysts forecast that Merit Medical Systems Inc. will post $1.00 EPS for the current year.
MMSI has been the topic of several recent research reports. Zacks Investment Research raised Merit Medical Systems from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Saturday. Canaccord Genuity initiated coverage on Merit Medical Systems in a research report on Tuesday, July 19th. They set a “buy” rating and a $27.00 price target on the stock. Finally, Barrington Research lowered Merit Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 28th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Merit Medical Systems presently has an average rating of “Buy” and a consensus price target of $24.00.
In related news, Director A Scott Anderson sold 12,000 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $24.10, for a total transaction of $289,200.00. Following the transaction, the director now directly owns 9,400 shares of the company’s stock, valued at $226,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard W. Edelman sold 21,500 shares of the company’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $23.51, for a total value of $505,465.00. Following the transaction, the director now directly owns 20,682 shares in the company, valued at $486,233.82. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.
About Merit Medical Systems
Merit Medical Systems, Inc is a designer, developer, manufacturer and marketer of medical devices used in an array of interventional and diagnostic procedures. The Company operates in two segments: cardiovascular and endoscopy. Its cardiovascular segment consists of cardiology and radiology devices, which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases; embolotherapeutic products, and cardiac rhythm management and electrophysiology (CRM/EP) devices.