Koch Industries Inc. bought a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 293,038 shares of the medical instruments supplier’s stock, valued at approximately $286,000. Koch Industries Inc. owned about 0.58% of Merit Medical Systems as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Merit Medical Systems by 7,837.9% during the first quarter. BlackRock Inc. now owns 6,789,527 shares of the medical instruments supplier’s stock valued at $196,218,000 after buying an additional 6,703,994 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Merit Medical Systems by 922.3% during the second quarter. Janus Henderson Group PLC now owns 1,533,513 shares of the medical instruments supplier’s stock valued at $58,504,000 after buying an additional 1,383,513 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Merit Medical Systems by 16.1% during the first quarter. Vanguard Group Inc. now owns 4,186,883 shares of the medical instruments supplier’s stock valued at $121,001,000 after buying an additional 580,871 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Merit Medical Systems by 24.8% during the second quarter. Frontier Capital Management Co. LLC now owns 2,737,303 shares of the medical instruments supplier’s stock valued at $104,428,000 after buying an additional 543,580 shares during the last quarter. Finally, AMI Asset Management Corp bought a new stake in shares of Merit Medical Systems during the second quarter valued at approximately $15,939,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Merit Medical Systems, Inc. (NASDAQ MMSI) traded down 2.76% during midday trading on Friday, hitting $37.00. 854,779 shares of the company’s stock were exchanged. Merit Medical Systems, Inc. has a 52 week low of $20.70 and a 52 week high of $45.50. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 52.71 and a beta of 1.25. The company has a 50-day moving average of $42.29 and a 200-day moving average of $37.99.
Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Merit Medical Systems had a net margin of 4.06% and a return on equity of 9.86%. The company had revenue of $179.30 million during the quarter, compared to the consensus estimate of $181.28 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The firm’s revenue was up 14.2% compared to the same quarter last year. Equities research analysts expect that Merit Medical Systems, Inc. will post $1.27 EPS for the current fiscal year.
In other Merit Medical Systems news, Director Kent W. Stanger sold 7,400 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $42.22, for a total value of $312,428.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Richard W. Edelman sold 29,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $41.19, for a total transaction of $1,194,510.00. Following the sale, the insider now owns 35,000 shares of the company’s stock, valued at approximately $1,441,650. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,106 shares of company stock valued at $2,772,344. 5.00% of the stock is owned by insiders.
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A number of research firms have recently weighed in on MMSI. Zacks Investment Research raised Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Saturday. Canaccord Genuity boosted their target price on Merit Medical Systems from $45.00 to $47.50 and gave the stock a “buy” rating in a report on Thursday. Craig Hallum reissued a “buy” rating and set a $50.00 target price (up previously from $42.00) on shares of Merit Medical Systems in a report on Thursday, July 27th. Bank of America Corporation assumed coverage on Merit Medical Systems in a report on Thursday, July 20th. They set a “buy” rating and a $44.00 target price on the stock. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $45.00 target price on shares of Merit Medical Systems in a report on Friday, July 28th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Merit Medical Systems currently has a consensus rating of “Buy” and an average price target of $41.65.
Merit Medical Systems Company Profile
Merit Medical Systems, Inc is a manufacturer and marketer of disposable medical devices used in a range of interventional, diagnostic and therapeutic medical procedures. The Company operates in two segments: cardiovascular and endoscopy. The 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, and includes embolotherapeutic, cardiac rhythm management (CRM), electrophysiology (EP), and interventional oncology and spine devices.
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