Arrowstreet Capital Limited Partnership grew its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 97.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 314,146 shares of the medical instruments supplier’s stock after purchasing an additional 154,800 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.63% of Merit Medical Systems worth $11,985,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Merit Medical Systems during the 1st quarter valued at $102,000. SG Americas Securities LLC purchased a new position in Merit Medical Systems in the 1st quarter worth $134,000. LS Investment Advisors LLC raised its stake in Merit Medical Systems by 8.1% in the 2nd quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock worth $141,000 after acquiring an additional 277 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Merit Medical Systems by 28.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock worth $142,000 after acquiring an additional 820 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its stake in Merit Medical Systems by 67.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,198 shares of the medical instruments supplier’s stock worth $198,000 after acquiring an additional 2,098 shares during the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.
In other Merit Medical Systems news, Director F. Ann Millner sold 3,106 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $41.01, for a total value of $127,377.06. Following the completion of the transaction, the director now owns 6,750 shares in the company, valued at $276,817.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard W. Edelman sold 29,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $41.19, for a total transaction of $1,194,510.00. Following the completion of the transaction, the insider now owns 35,000 shares of the company’s stock, valued at approximately $1,441,650. The disclosure for this sale can be found here. Insiders sold 67,106 shares of company stock valued at $2,772,344 in the last 90 days. 5.00% of the stock is currently owned by insiders.
A number of brokerages recently issued reports on MMSI. Sidoti restated a “buy” rating and issued a $46.00 target price (up previously from $41.00) on shares of Merit Medical Systems in a research note on Wednesday, June 28th. Craig Hallum restated a “buy” rating and issued a $50.00 target price (up previously from $42.00) on shares of Merit Medical Systems in a research note on Thursday, July 27th. Bank of America Corporation began coverage on Merit Medical Systems in a research note on Thursday, July 20th. They issued a “buy” rating and a $44.00 target price for the company. Piper Jaffray Companies restated a “buy” rating and issued a $45.00 target price on shares of Merit Medical Systems in a research note on Friday, July 28th. Finally, Canaccord Genuity restated a “buy” rating and issued a $45.00 target price on shares of Merit Medical Systems in a research note on Sunday, October 8th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Merit Medical Systems currently has an average rating of “Buy” and an average target price of $41.27.
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Shares of Merit Medical Systems, Inc. (MMSI) traded down 0.81% during trading on Friday, reaching $42.60. The company had a trading volume of 11,993 shares. Merit Medical Systems, Inc. has a 1-year low of $20.70 and a 1-year high of $45.50. The firm has a market capitalization of $2.14 billion, a PE ratio of 60.68 and a beta of 1.25. The firm has a 50-day moving average of $42.00 and a 200 day moving average of $37.05.
Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $181.46 million. During the same quarter in the prior year, the firm posted $0.26 earnings per share. Merit Medical Systems’s revenue for the quarter was up 23.4% on a year-over-year basis. Analysts expect that Merit Medical Systems, Inc. will post $1.26 earnings per share for the current year.
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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