Public Employees Retirement Association of Colorado held its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 374,915 shares of the medical instruments supplier’s stock at the end of the second quarter. Public Employees Retirement Association of Colorado owned approximately 0.75% of Merit Medical Systems worth $14,303,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of MMSI. Mason Street Advisors LLC raised its position in shares of Merit Medical Systems by 17.9% in the first quarter. Mason Street Advisors LLC now owns 11,491 shares of the medical instruments supplier’s stock valued at $332,000 after buying an additional 1,748 shares during the period. Norges Bank acquired a new position in shares of Merit Medical Systems during the fourth quarter valued at about $7,773,000. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Merit Medical Systems during the first quarter worth about $15,657,000. Russell Investments Group Ltd. purchased a new stake in shares of Merit Medical Systems during the fourth quarter worth about $503,000. Finally, Swiss National Bank raised its stake in shares of Merit Medical Systems by 10.1% in the first quarter. Swiss National Bank now owns 81,700 shares of the medical instruments supplier’s stock worth $2,361,000 after buying an additional 7,500 shares during the last quarter. 92.11% of the stock is currently owned by institutional investors.
Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) traded down 0.13% during mid-day trading on Friday, hitting $39.75. 295,424 shares of the stock were exchanged. Merit Medical Systems, Inc. has a one year low of $20.70 and a one year high of $42.60. The company has a 50-day moving average of $39.04 and a 200 day moving average of $32.99. The stock has a market cap of $1.99 billion, a PE ratio of 56.62 and a beta of 1.26.
Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. Merit Medical Systems had a net margin of 4.87% and a return on equity of 9.78%. The company had revenue of $186.50 million during the quarter, compared to analysts’ expectations of $181.46 million. During the same period last year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was up 23.4% on a year-over-year basis. On average, equities analysts predict that Merit Medical Systems, Inc. will post $1.26 earnings per share for the current year.
A number of research firms have weighed in on MMSI. Bank of America Corporation began coverage on Merit Medical Systems in a report on Thursday, July 20th. They set a “buy” rating and a $44.00 target price for the company. Sidoti reaffirmed a “buy” rating and set a $46.00 price target (up from $41.00) on shares of Merit Medical Systems in a research report on Wednesday, June 28th. BidaskClub raised Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Canaccord Genuity reissued a “buy” rating and issued a $37.00 target price on shares of Merit Medical Systems in a research report on Friday, April 28th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $39.00 price target on shares of Merit Medical Systems in a report on Monday, June 26th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Merit Medical Systems presently has an average rating of “Buy” and an average price target of $39.74.
In related news, Director Franklin J. Miller sold 16,090 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $33.95, for a total transaction of $546,255.50. Following the completion of the sale, the director now directly owns 27,334 shares in the company, valued at $927,989.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael E. Stillabower sold 17,110 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $33.71, for a total transaction of $576,778.10. Following the transaction, the director now directly owns 52,778 shares in the company, valued at approximately $1,779,146.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,450 shares of company stock valued at $5,607,192. Corporate insiders own 5.00% of the company’s stock.
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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