AMI Asset Management Corp trimmed its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 11.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 374,231 shares of the medical instruments supplier’s stock after selling 49,943 shares during the quarter. AMI Asset Management Corp owned 0.75% of Merit Medical Systems worth $16,167,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of MMSI. Ameritas Investment Partners Inc. lifted its holdings in Merit Medical Systems by 20.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,272 shares of the medical instruments supplier’s stock valued at $163,000 after acquiring an additional 738 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Merit Medical Systems in the 3rd quarter valued at about $189,000. Riverhead Capital Management LLC lifted its holdings in Merit Medical Systems by 67.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,198 shares of the medical instruments supplier’s stock valued at $198,000 after acquiring an additional 2,098 shares during the last quarter. Flinton Capital Management LLC lifted its holdings in Merit Medical Systems by 67.4% in the 2nd quarter. Flinton Capital Management LLC now owns 5,236 shares of the medical instruments supplier’s stock valued at $200,000 after acquiring an additional 2,108 shares during the last quarter. Finally, Wolverine Trading LLC acquired a new stake in Merit Medical Systems in the 3rd quarter valued at about $226,000. 90.60% of the stock is owned by institutional investors.
MMSI has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Canaccord Genuity restated a “buy” rating and set a $45.00 price objective on shares of Merit Medical Systems in a report on Sunday, October 8th. SunTrust Banks set a $47.00 price objective on Merit Medical Systems and gave the stock a “buy” rating in a report on Thursday, November 16th. ValuEngine upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Tuesday, November 21st. Finally, Wells Fargo & Co restated an “outperform” rating and set a $51.00 price objective (up previously from $46.00) on shares of Merit Medical Systems in a report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $43.77.
In other news, Director Franklin J. Miller sold 10,000 shares of the company’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $43.93, for a total value of $439,300.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kent W. Stanger sold 9,082 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $44.90, for a total value of $407,781.80. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock worth $1,416,379 in the last quarter. 5.00% of the stock is owned by corporate insiders.
Merit Medical Systems, Inc. (MMSI) traded up $0.20 during midday trading on Tuesday, reaching $45.50. The company’s stock had a trading volume of 352,866 shares, compared to its average volume of 267,610. The company has a current ratio of 2.78, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39. The firm has a market cap of $2,280.00, a P/E ratio of 75.83, a PEG ratio of 2.69 and a beta of 1.23. Merit Medical Systems, Inc. has a 12-month low of $24.23 and a 12-month high of $46.40.
Merit Medical Systems (NASDAQ:MMSI) last posted 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. The firm had revenue of $179.30 million for the quarter, compared to the consensus estimate of $181.28 million. Merit Medical Systems had a return on equity of 9.86% and a net margin of 4.06%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 EPS. research analysts forecast that Merit Medical Systems, Inc. will post 1.27 earnings per share for the current fiscal year.
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Merit Medical Systems 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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