Emerald Acquisition Ltd. purchased a new position in Merit Medical Systems Inc. (NASDAQ:MMSI) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 66,051 shares of the company’s stock, valued at approximately $1,310,000. Emerald Acquisition Ltd. owned 0.15% of Merit Medical Systems at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Acrospire Investment Management LLC bought a new position in shares of Merit Medical Systems during the first quarter worth approximately $195,000. Perkins Capital Management Inc. bought a new position in shares of Merit Medical Systems during the second quarter worth approximately $208,000. BNP Paribas Arbitrage SA raised its position in shares of Merit Medical Systems by 106.8% in the second quarter. BNP Paribas Arbitrage SA now owns 14,228 shares of the company’s stock worth $282,000 after buying an additional 7,349 shares during the last quarter. Bbva Compass Bancshares Inc. bought a new position in shares of Merit Medical Systems during the second quarter worth approximately $297,000. Finally, Foundry Partners LLC bought a new position in shares of Merit Medical Systems during the second quarter worth approximately $307,000. 87.00% of the stock is currently owned by hedge funds and other institutional investors.
Merit Medical Systems Inc. (NASDAQ:MMSI) traded down 0.45% during trading on Thursday, hitting $24.50. 178,508 shares of the company traded hands. The stock has a market capitalization of $1.09 billion, a PE ratio of 48.04 and a beta of 0.74. The company’s 50 day moving average is $24.12 and its 200-day moving average is $21.05. Merit Medical Systems Inc. has a 52 week low of $15.47 and a 52 week high of $25.08.
Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 4.06% and a return on equity of 8.43%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. Analysts predict that Merit Medical Systems Inc. will post $0.99 earnings per share for the current year.
A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Merit Medical Systems from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Canaccord Genuity assumed coverage on shares of Merit Medical Systems in a report on Tuesday, July 19th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Barrington Research lowered shares of Merit Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $23.20.
In other Merit Medical Systems news, Director Richard W. Edelman sold 21,500 shares of Merit Medical Systems stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $23.51, for a total transaction of $505,465.00. Following the transaction, the director now owns 20,682 shares of the company’s stock, valued at $486,233.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nolan E. Karras sold 5,878 shares of Merit Medical Systems stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $23.35, for a total transaction of $137,251.30. Following the transaction, the director now directly owns 5,878 shares in the company, valued at approximately $137,251.30. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.
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.
Want to see what other hedge funds are holding MMSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merit Medical Systems Inc. (NASDAQ:MMSI).
Receive News & Ratings for Merit Medical Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merit Medical Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.