Merit Medical Systems, Inc. (NASDAQ:MMSI) Director A Scott Anderson sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $41.15, for a total transaction of $1,028,750.00. Following the completion of the transaction, the director now owns 10,400 shares of the company’s stock, valued at $427,960. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of Merit Medical Systems, Inc. (MMSI) opened at 40.75 on Friday. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 58.05 and a beta of 1.26. Merit Medical Systems, Inc. has a 52 week low of $20.70 and a 52 week high of $42.60. The firm’s 50-day moving average is $39.50 and its 200-day moving average is $33.55.
Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.07. The business had revenue of $186.50 million during the quarter, compared to analysts’ expectations of $181.46 million. Merit Medical Systems had a net margin of 4.87% and a return on equity of 9.78%. The business’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter last year, the company posted $0.26 earnings per share. Analysts forecast that Merit Medical Systems, Inc. will post $1.26 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in shares of Merit Medical Systems during the fourth quarter valued at about $503,000. Norges Bank acquired a new position in shares of Merit Medical Systems during the fourth quarter valued at about $7,773,000. Teachers Advisors LLC boosted its position in shares of Merit Medical Systems by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 557,413 shares of the medical instruments supplier’s stock valued at $14,771,000 after buying an additional 3,839 shares during the period. Macquarie Group Ltd. boosted its position in shares of Merit Medical Systems by 7.5% in the fourth quarter. Macquarie Group Ltd. now owns 985,064 shares of the medical instruments supplier’s stock valued at $26,104,000 after buying an additional 68,601 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in shares of Merit Medical Systems by 11.7% in the first quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the medical instruments supplier’s stock valued at $578,000 after buying an additional 2,100 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on MMSI. Piper Jaffray Companies restated a “buy” rating and issued a $45.00 price objective on shares of Merit Medical Systems in a report on Friday, July 28th. Bank of America Corporation began coverage on shares of Merit Medical Systems in a report on Thursday, July 20th. They issued a “buy” rating and a $44.00 price objective for the company. Craig Hallum restated a “buy” rating and issued a $50.00 price objective (up from $42.00) on shares of Merit Medical Systems in a report on Thursday, July 27th. BidaskClub upgraded shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Finally, Sidoti reiterated a “buy” rating and set a $46.00 target price (up from $41.00) on shares of Merit Medical Systems in a research note on Wednesday, June 28th. One 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. The company has an average rating of “Buy” and an average price target of $39.74.
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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