Merit Medical Systems, Inc. (MMSI) Shares Sold by State of Tennessee Treasury Department

State of Tennessee Treasury Department reduced its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 5.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,623 shares of the medical instruments supplier’s stock after selling 2,694 shares during the quarter. State of Tennessee Treasury Department owned about 0.09% of Merit Medical Systems worth $1,805,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MMSI. Vanguard Group Inc. boosted its stake in shares of Merit Medical Systems by 16.1% in the 1st quarter. Vanguard Group Inc. now owns 4,186,883 shares of the medical instruments supplier’s stock valued at $121,001,000 after purchasing an additional 580,871 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Merit Medical Systems by 87.5% in the 1st quarter. Bank of America Corp DE now owns 230,082 shares of the medical instruments supplier’s stock valued at $6,649,000 after purchasing an additional 107,355 shares in the last quarter. State Street Corp boosted its stake in shares of Merit Medical Systems by 1.7% in the 1st quarter. State Street Corp now owns 1,218,788 shares of the medical instruments supplier’s stock valued at $35,223,000 after purchasing an additional 20,885 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Merit Medical Systems by 17.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 131,728 shares of the medical instruments supplier’s stock valued at $3,807,000 after purchasing an additional 19,428 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Merit Medical Systems by 84.6% in the 2nd quarter. Bank of Montreal Can now owns 91,089 shares of the medical instruments supplier’s stock valued at $3,476,000 after purchasing an additional 41,739 shares in the last quarter. 90.89% of the stock is currently owned by hedge funds and other institutional investors.

MMSI has been the topic of a number of research analyst reports. Canaccord Genuity raised their price target on shares of Merit Medical Systems from $45.00 to $47.50 and gave the company a “buy” rating in a research note on Thursday, October 26th. SunTrust Banks set a $47.00 price target on shares of Merit Medical Systems and gave the company a “buy” rating in a research note on Thursday, November 16th. ValuEngine upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st. Zacks Investment Research downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, BidaskClub downgraded shares of Merit Medical Systems from a “hold” rating to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $43.77.

In other news, Director Kent W. Stanger sold 1,930 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $42.02, for a total value of $81,098.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 5,518 shares of company stock worth $239,276 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Shares of Merit Medical Systems, Inc. (MMSI) traded down $0.35 during midday trading on Wednesday, hitting $43.25. 188,719 shares of the stock were exchanged, compared to its average volume of 388,261. The firm has a market cap of $2,193.69, a P/E ratio of 34.41, a P/E/G ratio of 2.96 and a beta of 1.23. Merit Medical Systems, Inc. has a 1 year low of $24.23 and a 1 year high of $45.50. The company has a quick ratio of 1.43, a current ratio of 2.78 and a debt-to-equity ratio of 0.39.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. The firm had revenue of $179.30 million for the quarter, compared to the consensus estimate of $181.28 million. Merit Medical Systems had a net margin of 4.06% and a return on equity of 9.86%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 EPS. sell-side analysts expect that Merit Medical Systems, Inc. will post 1.27 earnings per share for the current year.

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Merit Medical Systems 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.

Institutional Ownership by Quarter for Merit Medical Systems (NASDAQ:MMSI)

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