California Public Employees Retirement System lowered its position in shares of Merit Medical Systems Inc. (NASDAQ:MMSI) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 161,500 shares of the company’s stock after selling 3,200 shares during the period. California Public Employees Retirement System owned approximately 0.36% of Merit Medical Systems worth $3,202,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in MMSI. Norges Bank acquired a new position in shares of Merit Medical Systems during the fourth quarter worth about $9,433,000. Frontier Capital Management Co. LLC increased its position in shares of Merit Medical Systems by 21.6% in the second quarter. Frontier Capital Management Co. LLC now owns 867,852 shares of the company’s stock worth $17,210,000 after buying an additional 154,225 shares during the last quarter. Dalton Greiner Hartman Maher & Co. increased its position in shares of Merit Medical Systems by 9.9% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 1,118,892 shares of the company’s stock worth $22,188,000 after buying an additional 100,343 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Merit Medical Systems during the second quarter worth about $1,333,000. Finally, Emerald Acquisition Ltd. acquired a new position in shares of Merit Medical Systems during the second quarter worth about $1,310,000. 87.00% of the stock is currently owned by hedge funds and other institutional investors.
Merit Medical Systems Inc. (NASDAQ:MMSI) traded down 2.00% during mid-day trading on Monday, reaching $23.48. The company had a trading volume of 219,984 shares. The stock’s 50-day moving average price is $24.00 and its 200 day moving average price is $20.70. The firm has a market capitalization of $1.04 billion, a PE ratio of 46.04 and a beta of 0.80. Merit Medical Systems Inc. has a 52 week low of $15.47 and a 52 week high of $25.50.
Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. The company had revenue of $151.07 million for the quarter, compared to the consensus estimate of $147.76 million. Merit Medical Systems had a return on equity of 8.43% and a net margin of 4.06%. Merit Medical Systems’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. On average, equities research analysts predict that Merit Medical Systems Inc. will post $0.99 EPS for the current year.
A number of research analysts have recently issued reports on MMSI shares. Canaccord Genuity started coverage on Merit Medical Systems in a report on Tuesday, July 19th. They set a “buy” rating and a $27.00 price target on the stock. Barrington Research downgraded Merit Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. Finally, Zacks Investment Research raised Merit Medical Systems from a “sell” rating to a “hold” rating in a report on Friday, June 10th. One investment analyst has rated the stock with a hold rating, three 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 $23.20.
In other Merit Medical Systems news, Director Richard W. Edelman sold 21,500 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $23.51, for a total transaction of $505,465.00. Following the transaction, the director now directly owns 20,682 shares in the company, valued at approximately $486,233.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nolan E. Karras sold 5,878 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $23.35, for a total value of $137,251.30. Following the transaction, the director now owns 5,878 shares in the company, valued at $137,251.30. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.
Merit Medical Systems Company Profile
Merit Medical Systems, Inc is a designer, developer, manufacturer and marketer of medical devices used in an array of interventional and diagnostic procedures. The Company operates in two segments: cardiovascular and endoscopy. Its 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; embolotherapeutic products, and cardiac rhythm management and electrophysiology (CRM/EP) devices.
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