OppenheimerFunds Inc. grew its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2,548.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 313,866 shares of the medical instruments supplier’s stock after acquiring an additional 302,016 shares during the quarter. OppenheimerFunds Inc. owned about 0.63% of Merit Medical Systems worth $13,559,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. California State Teachers Retirement System lifted its stake in Merit Medical Systems by 1.7% during the second quarter. California State Teachers Retirement System now owns 86,184 shares of the medical instruments supplier’s stock worth $3,288,000 after purchasing an additional 1,445 shares during the last quarter. Nationwide Fund Advisors lifted its stake in Merit Medical Systems by 160.4% during the third quarter. Nationwide Fund Advisors now owns 94,612 shares of the medical instruments supplier’s stock worth $4,007,000 after purchasing an additional 58,276 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in Merit Medical Systems during the third quarter worth $541,000. New York State Teachers Retirement System lifted its stake in Merit Medical Systems by 3.6% during the third quarter. New York State Teachers Retirement System now owns 95,033 shares of the medical instruments supplier’s stock worth $4,025,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Chicago Equity Partners LLC acquired a new stake in Merit Medical Systems in the third quarter worth $1,027,000. 95.45% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on the company. BidaskClub raised Merit Medical Systems from a “sell” rating to a “hold” rating in a report on Thursday, January 18th. SunTrust Banks set a $47.00 price target on Merit Medical Systems and gave the company a “buy” rating in a research report on Thursday, November 16th. Barrington Research upgraded Merit Medical Systems from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Thursday, March 1st. ValuEngine upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st. Finally, Zacks Investment Research upgraded Merit Medical Systems from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Saturday, March 3rd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Merit Medical Systems presently has an average rating of “Buy” and a consensus price target of $46.42.
Shares of Merit Medical Systems, Inc. (MMSI) traded down $0.20 during trading hours on Wednesday, hitting $47.10. The stock had a trading volume of 210,152 shares, compared to its average volume of 305,522. Merit Medical Systems, Inc. has a one year low of $27.65 and a one year high of $49.50. The firm has a market cap of $2,362.54, a price-to-earnings ratio of 82.63, a PEG ratio of 2.21 and a beta of 1.28. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.73 and a quick ratio of 1.39.
Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The company had revenue of $190.90 million for the quarter, compared to analyst estimates of $187.62 million. Merit Medical Systems had a return on equity of 9.65% and a net margin of 3.78%. Merit Medical Systems’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 EPS. equities research analysts anticipate that Merit Medical Systems, Inc. will post 1.64 EPS for the current fiscal year.
In other news, Director Kent W. Stanger sold 9,082 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $44.90, for a total transaction of $407,781.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Franklin J. Miller sold 10,000 shares of the business’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $43.93, for a total value of $439,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,082 shares of company stock worth $1,286,382. 5.00% of the stock is owned by insiders.
TRADEMARK VIOLATION NOTICE: “OppenheimerFunds Inc. Purchases 302,016 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another website, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The legal version of this news story can be read at https://ledgergazette.com/2018/03/14/merit-medical-systems-inc-mmsi-holdings-lifted-by-oppenheimerfunds-inc.html.
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.
Receive News & Ratings for Merit Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merit Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.