Frontier Capital Management Co. LLC lowered its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 3.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 886,263 shares of the medical instruments supplier’s stock after selling 30,146 shares during the quarter. Frontier Capital Management Co. LLC owned 1.62% of Merit Medical Systems worth $54,461,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. First Hawaiian Bank acquired a new stake in shares of Merit Medical Systems in the third quarter valued at $107,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Merit Medical Systems in the second quarter valued at $206,000. Mutual Advisors LLC acquired a new stake in shares of Merit Medical Systems in the second quarter valued at $208,000. Intrust Bank NA acquired a new stake in shares of Merit Medical Systems in the second quarter valued at $211,000. Finally, Alpha Cubed Investments LLC acquired a new stake in shares of Merit Medical Systems in the third quarter valued at $211,000. Institutional investors own 86.88% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Sidoti set a $79.00 price objective on Merit Medical Systems and gave the company a “buy” rating in a research note on Tuesday, October 2nd. Piper Jaffray Companies lifted their price objective on Merit Medical Systems from $58.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, October 2nd. Barrington Research lifted their price objective on Merit Medical Systems to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, October 2nd. Needham & Company LLC lifted their price objective on Merit Medical Systems from $67.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research cut Merit Medical Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, nine have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $68.10.
Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Thursday, October 25th. The medical instruments supplier reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.05. Merit Medical Systems had a return on equity of 10.86% and a net margin of 4.72%. The firm had revenue of $221.66 million during the quarter, compared to analysts’ expectations of $217.62 million. As a group, research analysts anticipate that Merit Medical Systems, Inc. will post 1.65 EPS for the current year.
Merit Medical Systems Profile
Merit Medical Systems, Inc designs, develops, manufactures, and markets various 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 various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.
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