Trade Report: The 1,300 Shares of Merit Medical Systems Inc. (MMSI) are sold by Strs Ohio

The 1,300 Shares of Merit Medical Systems Inc. (MMSI) are sold by Strs Ohio

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.

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