Bbva Compass Bancshares Inc. lessened its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 13.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,578 shares of the medical instruments supplier’s stock after selling 4,406 shares during the period. Bbva Compass Bancshares Inc. owned approximately 0.06% of Merit Medical Systems worth $1,210,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of Merit Medical Systems during the 1st quarter valued at about $134,000. LS Investment Advisors LLC lifted its stake in Merit Medical Systems by 8.1% in the 2nd quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock valued at $141,000 after buying an additional 277 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Merit Medical Systems by 28.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock worth $142,000 after purchasing an additional 820 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in Merit Medical Systems by 20.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,272 shares of the medical instruments supplier’s stock worth $163,000 after purchasing an additional 738 shares in the last quarter. Finally, Riverhead Capital Management LLC lifted its stake in Merit Medical Systems by 67.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,198 shares of the medical instruments supplier’s stock worth $198,000 after purchasing an additional 2,098 shares in the last quarter. 89.52% of the stock is currently owned by hedge funds and other institutional investors.
Merit Medical Systems, Inc. (MMSI) traded down $0.65 during trading on Monday, hitting $36.80. 288,300 shares of the stock traded hands, compared to its average volume of 388,707. The firm has a market capitalization of $1,847.32, a price-to-earnings ratio of 28.98, a P/E/G ratio of 2.49 and a beta of 1.20. The company has a quick ratio of 1.43, a current ratio of 2.78 and a debt-to-equity ratio of 0.39. Merit Medical Systems, Inc. has a 52 week low of $22.10 and a 52 week high of $45.50.
Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. The company had revenue of $179.30 million for the quarter, compared to the consensus estimate of $181.28 million. Merit Medical Systems had a net margin of 4.06% and a return on equity of 9.86%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the firm posted $0.26 EPS. sell-side analysts forecast that Merit Medical Systems, Inc. will post 1.27 earnings per share for the current fiscal year.
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In other Merit Medical Systems news, Director Kent W. Stanger sold 670 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $42.06, for a total transaction of $28,180.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.00% of the company’s stock.
MMSI has been the subject of a number of recent analyst reports. Piper Jaffray Companies restated a “buy” rating and set a $45.00 price target on shares of Merit Medical Systems in a report on Friday, July 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 report on Thursday, July 27th. Bank of America Corporation assumed coverage on shares of Merit Medical Systems in a research note on Thursday, July 20th. They issued a “buy” rating and a $44.00 price target for the company. Canaccord Genuity reaffirmed a “buy” rating and set a $45.00 price objective on shares of Merit Medical Systems in a research report on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Saturday, October 28th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $41.65.
Merit Medical Systems Company 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.
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