Manchester Capital Management LLC purchased a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 885 shares of the medical instruments supplier’s stock, valued at approximately $55,000.
A number of other large investors also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue grew its holdings in Merit Medical Systems by 0.9% during the first quarter. State of Alaska Department of Revenue now owns 18,502 shares of the medical instruments supplier’s stock valued at $1,143,000 after purchasing an additional 165 shares during the period. Neuburgh Advisers LLC grew its holdings in Merit Medical Systems by 2.9% during the fourth quarter. Neuburgh Advisers LLC now owns 6,204 shares of the medical instruments supplier’s stock valued at $346,000 after purchasing an additional 176 shares during the period. Arizona State Retirement System grew its holdings in Merit Medical Systems by 0.3% during the first quarter. Arizona State Retirement System now owns 84,695 shares of the medical instruments supplier’s stock valued at $5,237,000 after purchasing an additional 251 shares during the period. First Mercantile Trust Co. grew its holdings in Merit Medical Systems by 6.1% during the first quarter. First Mercantile Trust Co. now owns 4,699 shares of the medical instruments supplier’s stock valued at $290,000 after purchasing an additional 270 shares during the period. Finally, Flinton Capital Management LLC grew its holdings in Merit Medical Systems by 2.9% during the fourth quarter. Flinton Capital Management LLC now owns 9,588 shares of the medical instruments supplier’s stock valued at $535,000 after purchasing an additional 272 shares during the period. 97.45% of the stock is owned by institutional investors and hedge funds.
In related news, Director Michael E. Stillabower sold 10,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $58.05, for a total transaction of $580,500.00. Following the completion of the transaction, the director now directly owns 63,618 shares of the company’s stock, valued at $3,693,024.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kent W. Stanger sold 1,216 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $60.54, for a total value of $73,616.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,216 shares of company stock valued at $2,579,837. 4.75% of the stock is owned by corporate insiders.
MMSI has been the subject of several recent research reports. Zacks Investment Research raised Merit Medical Systems from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Tuesday, April 30th. BidaskClub raised Merit Medical Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Needham & Company LLC reaffirmed a “buy” rating on shares of Merit Medical Systems in a research note on Thursday, April 25th. Finally, ValuEngine lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $67.80.
NASDAQ MMSI opened at $52.17 on Friday. The stock has a market capitalization of $2.87 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 2.29 and a beta of 1.03. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.36 and a quick ratio of 1.25. Merit Medical Systems, Inc. has a twelve month low of $47.30 and a twelve month high of $66.34.
Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Tuesday, April 23rd. The medical instruments supplier reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Merit Medical Systems had a return on equity of 10.99% and a net margin of 4.68%. The firm had revenue of $238.35 million during the quarter, compared to analyst estimates of $236.53 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities research analysts predict that Merit Medical Systems, Inc. will post 2.02 earnings per share for the current fiscal year.
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About Merit Medical Systems
Merit Medical Systems, Inc manufactures and markets 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 peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.
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