Timpani Capital Management LLC Invests $4.33 Million in Merit Medical Systems, Inc. (NASDAQ:MMSI) Stock

Timpani Capital Management LLC acquired a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 113,437 shares of the medical instruments supplier’s stock, valued at approximately $4,328,000. Merit Medical Systems accounts for approximately 1.6% of Timpani Capital Management LLC’s portfolio, making the stock its 21st largest position. Timpani Capital Management LLC owned approximately 0.23% of Merit Medical Systems as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MMSI. BlackRock Inc. boosted its position in Merit Medical Systems by 7,837.9% during the first quarter. BlackRock Inc. now owns 6,789,527 shares of the medical instruments supplier’s stock worth $196,218,000 after purchasing an additional 6,703,994 shares in the last quarter. Private Advisor Group LLC purchased a new stake in Merit Medical Systems during the first quarter worth $444,000. Vanguard Group Inc. boosted its position in Merit Medical Systems by 16.1% during the first quarter. Vanguard Group Inc. now owns 4,186,883 shares of the medical instruments supplier’s stock worth $121,001,000 after purchasing an additional 580,871 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in Merit Medical Systems by 24.8% during the second quarter. Frontier Capital Management Co. LLC now owns 2,737,303 shares of the medical instruments supplier’s stock worth $104,428,000 after purchasing an additional 543,580 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in Merit Medical Systems during the first quarter worth $15,657,000. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Nolan E. Karras sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $37.15, for a total transaction of $260,050.00. Following the transaction, the director now directly owns 8,000 shares in the company, valued at $297,200. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kent W. Stanger sold 1,930 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $42.02, for a total transaction of $81,098.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,180 shares of company stock valued at $4,013,897. 5.00% of the stock is currently owned by insiders.

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Several equities research analysts have commented on MMSI shares. Sidoti restated a “buy” rating and set a $46.00 price target (up from $41.00) on shares of Merit Medical Systems in a research note on Wednesday, June 28th. Craig Hallum reiterated a “buy” rating and issued a $50.00 target price (up previously from $42.00) on shares of Merit Medical Systems in a research note on Thursday, July 27th. Bank of America Corporation initiated coverage on Merit Medical Systems in a research note on Thursday, July 20th. They issued a “buy” rating and a $44.00 target price for the company. Piper Jaffray Companies reiterated a “buy” rating and issued a $45.00 target price on shares of Merit Medical Systems in a research note on Friday, July 28th. Finally, Raymond James Financial, Inc. reissued an “outperform” rating and issued a $44.00 price target on shares of Merit Medical Systems in a report on Monday, August 28th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $41.25.

Shares of Merit Medical Systems, Inc. (NASDAQ MMSI) traded down 1.43% during trading on Friday, hitting $41.50. The stock had a trading volume of 393,462 shares. The stock’s 50 day moving average is $41.11 and its 200 day moving average is $35.35. Merit Medical Systems, Inc. has a 52 week low of $20.70 and a 52 week high of $42.60. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 59.12 and a beta of 1.25.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. The company had revenue of $186.50 million during the quarter, compared to the consensus estimate of $181.46 million. Merit Medical Systems had a net margin of 4.87% and a return on equity of 9.78%. The firm’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 earnings per share. On average, equities research analysts expect that Merit Medical Systems, Inc. will post $1.26 earnings per share for the current fiscal year.

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.

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

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