QS Investors LLC trimmed its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 3.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 139,544 shares of the medical instruments supplier’s stock after selling 4,552 shares during the quarter. QS Investors LLC’s holdings in Merit Medical Systems were worth $6,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in MMSI. Nationwide Fund Advisors boosted its position in Merit Medical Systems by 160.4% during the third quarter. Nationwide Fund Advisors now owns 94,612 shares of the medical instruments supplier’s stock worth $4,007,000 after purchasing an additional 58,276 shares during the period. Crossmark Global Holdings Inc. bought a new position in Merit Medical Systems during the third quarter worth $541,000. Chicago Equity Partners LLC bought a new position in Merit Medical Systems during the third quarter worth $1,027,000. Stevens Capital Management LP bought a new position in Merit Medical Systems during the third quarter worth $594,000. Finally, Swiss National Bank boosted its position in Merit Medical Systems by 2.1% during the third quarter. Swiss National Bank now owns 83,400 shares of the medical instruments supplier’s stock worth $3,532,000 after purchasing an additional 1,700 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on MMSI shares. Zacks Investment Research cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Wells Fargo & Co reissued an “outperform” rating and set a $51.00 target price (up previously from $46.00) on shares of Merit Medical Systems in a report on Thursday, November 30th. SunTrust Banks set a $47.00 target price on Merit Medical Systems and gave the stock a “buy” rating in a report on Thursday, November 16th. BidaskClub raised Merit Medical Systems from a “sell” rating to a “hold” rating in a report on Saturday, February 17th. Finally, ValuEngine raised Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Tuesday, November 21st. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $46.42.
In related news, Director Kent W. Stanger sold 9,082 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $44.90, for a total value of $407,781.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Franklin J. Miller sold 10,000 shares of the business’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $43.93, for a total value of $439,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,082 shares of company stock valued at $1,286,382. 5.00% of the stock is owned by insiders.
Shares of Merit Medical Systems, Inc. (NASDAQ MMSI) opened at $47.30 on Wednesday. Merit Medical Systems, Inc. has a twelve month low of $27.65 and a twelve month high of $49.50. The company has a current ratio of 2.73, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $2,362.54, a price-to-earnings ratio of 36.43, a PEG ratio of 2.21 and a beta of 1.28.
Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. Merit Medical Systems had a return on equity of 9.65% and a net margin of 3.78%. The company had revenue of $190.90 million during the quarter, compared to the consensus estimate of $187.62 million. During the same quarter last year, the firm earned $0.31 earnings per share. The company’s revenue was up 21.0% on a year-over-year basis. research analysts forecast that Merit Medical Systems, Inc. will post 1.64 EPS for the current fiscal year.
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About Merit Medical Systems
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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