Merit Medical Systems, Inc. (MMSI) Shares Bought by Hodges Capital Management Inc.

Hodges Capital Management Inc. increased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1.5% during the first quarter, HoldingsChannel.com reports. The fund owned 162,805 shares of the medical instruments supplier’s stock after acquiring an additional 2,355 shares during the quarter. Hodges Capital Management Inc.’s holdings in Merit Medical Systems were worth $10,066,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. acquired a new position in Merit Medical Systems during the fourth quarter worth about $36,000. Financial Gravity Companies Inc. acquired a new position in Merit Medical Systems during the fourth quarter worth about $43,000. Advisory Services Network LLC grew its holdings in Merit Medical Systems by 1,051.1% during the fourth quarter. Advisory Services Network LLC now owns 2,141 shares of the medical instruments supplier’s stock worth $120,000 after acquiring an additional 1,955 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Merit Medical Systems by 8.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,802 shares of the medical instruments supplier’s stock worth $212,000 after acquiring an additional 303 shares during the period. Finally, Brinker Capital Inc. acquired a new position in Merit Medical Systems during the fourth quarter worth about $221,000. 97.77% of the stock is currently owned by hedge funds and other institutional investors.

In other Merit Medical Systems news, Director Michael E. Stillabower sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $58.05, for a total transaction of $580,500.00. Following the completion of the sale, the director now directly owns 63,618 shares in the company, valued at approximately $3,693,024.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Franklin J. Miller sold 20,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. Following the sale, the director now owns 34,038 shares of the company’s stock, valued at $2,057,256.72. The disclosure for this sale can be found here. Insiders sold a total of 41,216 shares of company stock worth $2,465,617 in the last three months. 5.16% of the stock is currently owned by company insiders.

A number of research firms recently issued reports on MMSI. Zacks Investment Research raised Merit Medical Systems from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Thursday, January 3rd. BidaskClub cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $73.00 price target on shares of Merit Medical Systems in a research note on Monday, December 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $67.60.

MMSI traded up $0.20 during trading on Monday, reaching $62.55. The company had a trading volume of 258,242 shares, compared to its average volume of 347,796. The stock has a market capitalization of $3.44 billion, a P/E ratio of 37.01, a P/E/G ratio of 2.68 and a beta of 1.11. Merit Medical Systems, Inc. has a 12-month low of $44.05 and a 12-month high of $66.34. The company has a current ratio of 2.45, a quick ratio of 1.32 and a debt-to-equity ratio of 0.40.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Tuesday, February 26th. The medical instruments supplier reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. The firm had revenue of $232.25 million for the quarter, compared to analysts’ expectations of $231.03 million. Merit Medical Systems had a return on equity of 11.26% and a net margin of 4.76%. Merit Medical Systems’s revenue was up 21.7% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. On average, research analysts predict that Merit Medical Systems, Inc. will post 2.01 earnings per share for the current year.

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About Merit Medical Systems

Merit Medical Systems, Inc manufactures and markets 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 peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.

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Institutional Ownership by Quarter for Merit Medical Systems (NASDAQ:MMSI)

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