Boston Advisors LLC boosted its position in Merit Medical Systems Inc. (NASDAQ:MMSI) by 17.5% during the second quarter, Holdings Channel reports. The firm owned 314,804 shares of the company’s stock after buying an additional 46,910 shares during the period. Boston Advisors LLC’s holdings in Merit Medical Systems were worth $6,243,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC purchased a new position in Merit Medical Systems during the first quarter worth $195,000. Perkins Capital Management Inc. purchased a new position in Merit Medical Systems during the second quarter worth $208,000. BNP Paribas Arbitrage SA increased its position in 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 period. Foundry Partners LLC purchased a new position in Merit Medical Systems during the second quarter worth $307,000. Finally, Capstone Asset Management Co. increased its position in Merit Medical Systems by 13.8% in the second quarter. Capstone Asset Management Co. now owns 18,770 shares of the company’s stock worth $372,000 after buying an additional 2,280 shares during the period. 87.00% of the stock is owned by hedge funds and other institutional investors.
Merit Medical Systems Inc. (NASDAQ:MMSI) traded up 2.24% during midday trading on Wednesday, reaching $24.15. The company had a trading volume of 201,139 shares. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 47.35 and a beta of 0.80. Merit Medical Systems Inc. has a 12-month low of $15.47 and a 12-month high of $25.50. The stock’s 50 day moving average is $24.04 and its 200 day moving average is $20.82.
Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Wednesday, July 27th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.02. The company had revenue of $151.07 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm earned $0.25 earnings per share. Equities research analysts expect that Merit Medical Systems Inc. will post $0.99 earnings per share for the current year.
A number of equities analysts have weighed in on the company. Zacks Investment Research downgraded Merit Medical Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Canaccord Genuity began coverage on Merit Medical Systems in a report on Tuesday, July 19th. They issued a “buy” rating and a $27.00 price objective for the company. Finally, Barrington Research downgraded Merit Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Merit Medical Systems has a consensus rating of “Buy” and an average target price of $23.20.
In other Merit Medical Systems news, Director Nolan E. Karras sold 5,878 shares of the business’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 of the company’s stock, valued at $137,251.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director A Scott Anderson sold 12,000 shares of the business’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $24.10, for a total value of $289,200.00. Following the completion of the transaction, the director now directly owns 9,400 shares in the company, valued at approximately $226,540. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.
About Merit Medical Systems
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.