Nuveen Asset Management LLC cut its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 21.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,097 shares of the medical instruments supplier’s stock after selling 10,724 shares during the period. Nuveen Asset Management LLC owned about 0.08% of Merit Medical Systems worth $1,130,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. Ameritas Investment Partners Inc. purchased a new stake in shares of Merit Medical Systems during the first quarter valued at $102,000. SG Americas Securities LLC bought a new stake in shares of Merit Medical Systems during the first quarter valued at approximately $134,000. State of Alaska Department of Revenue boosted its stake in shares of Merit Medical Systems by 13.1% in the first quarter. State of Alaska Department of Revenue now owns 5,430 shares of the medical instruments supplier’s stock valued at $156,000 after buying an additional 630 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Merit Medical Systems by 2,513.6% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 6,900 shares of the medical instruments supplier’s stock valued at $199,000 after buying an additional 6,636 shares during the period. Finally, Suntrust Banks Inc. bought a new stake in shares of Merit Medical Systems during the first quarter valued at approximately $214,000. 92.11% of the stock is currently owned by institutional investors and hedge funds.
Merit Medical Systems, Inc. (NASDAQ:MMSI) opened at 41.95 on Wednesday. Merit Medical Systems, Inc. has a 52-week low of $20.70 and a 52-week high of $42.60. The stock has a 50 day moving average of $38.37 and a 200-day moving average of $32.44. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 59.76 and a beta of 1.26.
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. Merit Medical Systems had a return on equity of 9.78% and a net margin of 4.87%. The business had revenue of $186.50 million for the quarter, compared to analyst estimates of $181.46 million. During the same period in the previous year, the firm earned $0.26 EPS. The firm’s revenue was up 23.4% compared to the same quarter last year. On average, analysts expect that Merit Medical Systems, Inc. will post $1.26 EPS for the current year.
Several analysts recently commented on the stock. Bank of America Corporation assumed coverage on shares of Merit Medical Systems in a research note on Thursday, July 20th. They issued a “buy” rating and a $44.00 price objective for the company. Sidoti reiterated a “buy” rating and issued a $46.00 price objective (up previously from $41.00) on shares of Merit Medical Systems in a research note on Wednesday, June 28th. BidaskClub upgraded shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Canaccord Genuity restated a “buy” rating and set a $37.00 target price on shares of Merit Medical Systems in a research report on Friday, April 28th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $39.00 target price on shares of Merit Medical Systems in a research report on Monday, June 26th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $39.74.
In other news, insider Richard W. Edelman sold 29,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $41.19, for a total transaction of $1,194,510.00. Following the sale, the insider now directly owns 35,000 shares of the company’s stock, valued at approximately $1,441,650. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael E. Stillabower sold 17,110 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $33.71, for a total value of $576,778.10. Following the completion of the transaction, the director now owns 52,778 shares of the company’s stock, valued at $1,779,146.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,050 shares of company stock worth $5,294,764. Insiders own 5.00% of the company’s stock.
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.
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