Rockefeller Capital Management L.P. lowered its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1.8% in the 3rd quarter, Holdings Channel reports. The fund owned 720,928 shares of the medical instruments supplier’s stock after selling 13,574 shares during the period. Rockefeller Capital Management L.P.’s holdings in Merit Medical Systems were worth $44,301,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in MMSI. First Hawaiian Bank acquired a new stake in shares of Merit Medical Systems during the third quarter worth $107,000. Alpha Cubed Investments LLC acquired a new stake in shares of Merit Medical Systems during the third quarter worth $211,000. Creative Planning acquired a new stake in shares of Merit Medical Systems during the third quarter worth $221,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Merit Medical Systems during the second quarter worth $206,000. Finally, Mutual Advisors LLC acquired a new stake in shares of Merit Medical Systems during the second quarter worth $208,000. 87.09% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:MMSI opened at $59.69 on Monday. The company has a quick ratio of 1.47, a current ratio of 2.77 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 46.63, a P/E/G ratio of 2.76 and a beta of 1.19. Merit Medical Systems, Inc. has a 12 month low of $36.21 and a 12 month high of $66.34.
Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, October 25th. The medical instruments supplier reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The business had revenue of $221.66 million during the quarter, compared to analysts’ expectations of $217.62 million. Merit Medical Systems had a net margin of 4.72% and a return on equity of 10.86%. As a group, research analysts anticipate that Merit Medical Systems, Inc. will post 1.66 EPS for the current year.
Several equities research analysts have recently weighed in on MMSI shares. Sidoti set a $79.00 price objective on shares of Merit Medical Systems and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Needham & Company LLC increased their price objective on shares of Merit Medical Systems from $67.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. SunTrust Banks increased their price objective on shares of Merit Medical Systems to $68.00 and gave the stock a “buy” rating in a research report on Monday, August 27th. Canaccord Genuity increased their price objective on shares of Merit Medical Systems from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Finally, Zacks Investment Research upgraded shares of Merit Medical Systems from a “sell” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Monday, October 29th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Merit Medical Systems presently has an average rating of “Buy” and an average price target of $68.10.
In other Merit Medical Systems news, Director F. Ann Millner sold 9,593 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $56.92, for a total value of $546,033.56. Following the completion of the sale, the director now directly owns 7,891 shares in the company, valued at $449,155.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.16% of the company’s stock.
Merit Medical Systems Profile
Merit Medical Systems, Inc designs, develops, manufactures, and markets various disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.
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