First Trust Advisors LP lessened its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 15.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,054 shares of the medical instruments supplier’s stock after selling 9,606 shares during the quarter. First Trust Advisors LP’s holdings in Merit Medical Systems were worth $2,335,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Merit Medical Systems in the third quarter worth approximately $189,000. Wolverine Trading LLC acquired a new position in Merit Medical Systems in the third quarter worth approximately $226,000. Asset Management One Co. Ltd. acquired a new position in Merit Medical Systems in the third quarter worth approximately $230,000. Highbridge Capital Management LLC acquired a new position in Merit Medical Systems in the third quarter worth approximately $238,000. Finally, FDx Advisors Inc. acquired a new position in Merit Medical Systems in the third quarter worth approximately $335,000. Institutional investors and hedge funds own 95.32% of the company’s stock.
MMSI has been the topic of several recent research reports. Wells Fargo restated an “outperform” rating and issued a $51.00 price target (up previously from $46.00) on shares of Merit Medical Systems in a research report on Thursday, November 30th. ValuEngine upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st. BidaskClub cut shares of Merit Medical Systems from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Zacks Investment Research upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Saturday, March 3rd. Finally, Canaccord Genuity lifted their price objective on shares of Merit Medical Systems from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, March 1st. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $46.42.
In other Merit Medical Systems news, Director Franklin J. Miller sold 10,000 shares of Merit Medical Systems stock in a transaction on Friday, December 29th. The shares were sold at an average price of $43.93, for a total transaction of $439,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.00% of the company’s stock.
Merit Medical Systems stock opened at $45.00 on Monday. Merit Medical Systems, Inc. has a 52-week low of $27.65 and a 52-week high of $49.50. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.39 and a current ratio of 2.73. The firm has a market cap of $2,262.01, a P/E ratio of 34.88, a price-to-earnings-growth ratio of 2.07 and a beta of 1.28.
Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. Merit Medical Systems had a net margin of 3.78% and a return on equity of 9.65%. The firm had revenue of $190.90 million for the quarter, compared to analysts’ expectations of $187.62 million. During the same period in the previous year, the company posted $0.31 EPS. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. equities analysts anticipate that Merit Medical Systems, Inc. will post 1.64 earnings per share for the current 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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