Comerica Bank lifted its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 74.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,202 shares of the medical instruments supplier’s stock after buying an additional 52,488 shares during the period. Comerica Bank owned about 0.22% of Merit Medical Systems worth $3,730,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of MMSI. Capital Investment Advisory Services LLC purchased a new stake in shares of Merit Medical Systems during the second quarter worth $29,000. Fiera Capital Corp raised its holdings in shares of Merit Medical Systems by 474.3% during the second quarter. Fiera Capital Corp now owns 217,276 shares of the medical instruments supplier’s stock worth $12,941,000 after acquiring an additional 179,442 shares in the last quarter. Calamos Advisors LLC purchased a new stake in shares of Merit Medical Systems during the second quarter worth $5,126,000. Congress Asset Management Co. MA raised its holdings in shares of Merit Medical Systems by 11.9% during the second quarter. Congress Asset Management Co. MA now owns 131,817 shares of the medical instruments supplier’s stock worth $7,851,000 after acquiring an additional 14,024 shares in the last quarter. Finally, First Mercantile Trust Co. raised its holdings in shares of Merit Medical Systems by 8.0% during the second quarter. First Mercantile Trust Co. now owns 5,076 shares of the medical instruments supplier’s stock worth $303,000 after acquiring an additional 377 shares in the last quarter. 99.35% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Raul Jr. Parra bought 2,525 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was bought at an average price of $25.50 per share, for a total transaction of $64,387.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Fred P. Lampropoulos sold 40,000 shares of Merit Medical Systems stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $36.86, for a total transaction of $1,474,400.00. Following the completion of the transaction, the chief executive officer now owns 1,079,991 shares of the company’s stock, valued at approximately $39,808,468.26. The disclosure for this sale can be found here. Insiders sold 193,780 shares of company stock valued at $6,221,013 in the last quarter. 4.75% of the stock is currently owned by corporate insiders.
NASDAQ MMSI opened at $26.68 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.88 and a quick ratio of 1.47. The stock’s 50-day moving average is $28.84 and its two-hundred day moving average is $43.61. The firm has a market cap of $1.43 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 2.19 and a beta of 0.95. Merit Medical Systems, Inc. has a fifty-two week low of $19.50 and a fifty-two week high of $64.03.
Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.17). Merit Medical Systems had a net margin of 1.94% and a return on equity of 9.23%. The company had revenue of $243.05 million for the quarter, compared to analyst estimates of $248.53 million. During the same period in the previous year, the firm posted $0.47 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts expect that Merit Medical Systems, Inc. will post 1.41 EPS for the current year.
Several analysts recently issued reports on the company. Piper Jaffray Companies cut their price objective on Merit Medical Systems from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Sidoti cut their target price on Merit Medical Systems from $74.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Raymond James lowered Merit Medical Systems from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. Wells Fargo & Co lowered Merit Medical Systems from an “outperform” rating to a “market perform” rating and cut their target price for the company from $71.00 to $46.00 in a report on Friday, July 26th. Finally, Oppenheimer initiated coverage on Merit Medical Systems in a report on Monday, September 23rd. They set an “outperform” rating and a $40.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Merit Medical Systems currently has an average rating of “Hold” and a consensus price target of $45.00.
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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