Westwood Holdings Group Inc. increased its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 8.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 266,699 shares of the medical instruments supplier’s stock after buying an additional 21,786 shares during the period. Westwood Holdings Group Inc. owned 0.53% of Merit Medical Systems worth $10,174,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new position in Merit Medical Systems in the first quarter worth approximately $102,000. LS Investment Advisors LLC increased its holdings in Merit Medical Systems by 8.1% in the second quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock worth $141,000 after buying an additional 277 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Merit Medical Systems by 28.2% in the second quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock worth $142,000 after buying an additional 820 shares during the last quarter. SG Americas Securities LLC acquired a new position in Merit Medical Systems in the first quarter worth approximately $134,000. Finally, Riverhead Capital Management LLC increased its holdings in Merit Medical Systems by 67.7% in the second quarter. Riverhead Capital Management LLC now owns 5,198 shares of the medical instruments supplier’s stock worth $198,000 after buying an additional 2,098 shares during the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.
In other Merit Medical Systems news, Director Kent W. Stanger sold 7,400 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $42.22, for a total value of $312,428.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Richard W. Edelman sold 29,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $41.19, for a total value of $1,194,510.00. Following the completion of the transaction, the insider now directly owns 35,000 shares in the company, valued at $1,441,650. The disclosure for this sale can be found here. Insiders have sold a total of 67,106 shares of company stock worth $2,772,344 over the last three months. 5.00% of the stock is owned by insiders.
Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) traded down 0.58% during midday trading on Friday, hitting $42.70. 369,216 shares of the stock traded hands. The company has a market capitalization of $2.14 billion, a PE ratio of 60.83 and a beta of 1.25. Merit Medical Systems, Inc. has a 12-month low of $20.70 and a 12-month high of $45.50. The firm’s 50 day moving average price is $42.05 and its 200 day moving average price is $37.15.
Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $186.50 million for the quarter, compared to analyst estimates of $181.46 million. Merit Medical Systems had a return on equity of 9.78% and a net margin of 4.87%. The firm’s revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 EPS. Analysts expect that Merit Medical Systems, Inc. will post $1.26 EPS for the current year.
A number of equities analysts recently commented on MMSI shares. Citigroup Inc. downgraded Merit Medical Systems from a “strong-buy” rating to an “outperform” rating and set a $44.00 price objective on the stock. in a report on Monday, August 28th. They noted that the move was a valuation call. BidaskClub upgraded Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Zacks Investment Research downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Canaccord Genuity reiterated a “buy” rating and set a $45.00 price target on shares of Merit Medical Systems in a report on Wednesday, September 6th. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating and set a $44.00 price target on shares of Merit Medical Systems in a report on Monday, August 28th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Merit Medical Systems currently has a consensus rating of “Buy” and an average price target of $41.27.
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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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