US Bancorp DE reduced its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 9.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,180 shares of the medical instruments supplier’s stock after selling 3,165 shares during the period. US Bancorp DE owned approximately 0.06% of Merit Medical Systems worth $1,545,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Mount Yale Investment Advisors LLC bought a new position in shares of Merit Medical Systems in the 1st quarter worth $156,000. Campbell & CO Investment Adviser LLC purchased a new stake in Merit Medical Systems in the 2nd quarter valued at $206,000. Intrust Bank NA purchased a new stake in Merit Medical Systems in the 2nd quarter valued at $211,000. Van Hulzen Asset Management LLC purchased a new stake in Merit Medical Systems in the 1st quarter valued at $200,000. Finally, BTC Capital Management Inc. purchased a new stake in Merit Medical Systems in the 1st quarter valued at $206,000. Institutional investors own 87.82% of the company’s stock.
In other news, insider Joseph Wright sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the sale, the insider now directly owns 9,928 shares of the company’s stock, valued at approximately $491,535.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Franklin J. Miller sold 1,500 shares of the firm’s stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $50.05, for a total value of $75,075.00. Following the sale, the director now directly owns 12,744 shares of the company’s stock, valued at $637,837.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,706 shares of company stock valued at $1,429,899. Insiders own 5.00% of the company’s stock.
A number of research firms recently commented on MMSI. Zacks Investment Research raised Merit Medical Systems from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Tuesday, June 26th. BidaskClub raised Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 27th. Raymond James increased their price target on Merit Medical Systems from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, July 24th. Barrington Research increased their price target on Merit Medical Systems from $50.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, July 24th. Finally, SunTrust Banks increased their price target on Merit Medical Systems from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, May 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $63.25.
Shares of Merit Medical Systems stock opened at $61.05 on Friday. Merit Medical Systems, Inc. has a 1 year low of $36.21 and a 1 year high of $61.55. The firm has a market cap of $3.28 billion, a PE ratio of 43.17, a price-to-earnings-growth ratio of 2.84 and a beta of 1.33. The company has a quick ratio of 1.45, a current ratio of 2.66 and a debt-to-equity ratio of 0.56.
Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Monday, July 23rd. The medical instruments supplier reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Merit Medical Systems had a return on equity of 10.48% and a net margin of 2.44%. The firm had revenue of $224.81 million during the quarter, compared to analyst estimates of $214.64 million. During the same period last year, the firm posted $0.36 EPS. The business’s revenue was up 20.5% compared to the same quarter last year. equities analysts expect that Merit Medical Systems, Inc. will post 1.64 earnings per share for the current fiscal year.
Merit Medical Systems Company 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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