Great West Life Assurance Co. Can continued to hold its position in Merit Medical Systems Inc. (NASDAQ:MMSI) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,732 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Merit Medical Systems were worth $106,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Merit Medical Systems during the fourth quarter valued at about $9,433,000. Virginia Retirement System bought a new position in Merit Medical Systems during the first quarter valued at about $830,000. Teachers Advisors Inc. raised its position in Merit Medical Systems by 3.6% in the first quarter. Teachers Advisors Inc. now owns 436,174 shares of the company’s stock valued at $8,065,000 after buying an additional 15,000 shares in the last quarter. Prudential Financial Inc. raised its position in Merit Medical Systems by 7.0% in the first quarter. Prudential Financial Inc. now owns 167,922 shares of the company’s stock valued at $3,105,000 after buying an additional 11,000 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in Merit Medical Systems by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,318,269 shares of the company’s stock valued at $24,375,000 after buying an additional 7,456 shares in the last quarter. Institutional investors and hedge funds own 87.00% of the company’s stock.
Shares of Merit Medical Systems Inc. (NASDAQ:MMSI) traded up 2.53% during mid-day trading on Friday, hitting $24.36. The stock had a trading volume of 144,549 shares. Merit Medical Systems Inc. has a 1-year low of $15.47 and a 1-year high of $25.50. The company has a market cap of $1.08 billion, a P/E ratio of 47.76 and a beta of 0.80. The firm’s 50 day moving average price is $24.06 and its 200 day moving average price is $20.84.
Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.02. The business earned $151.07 million during 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 in the prior year, the business posted $0.25 earnings per share. Analysts predict that Merit Medical Systems Inc. will post $0.99 earnings per share for the current fiscal year.
MMSI has been the topic of several recent research reports. Zacks Investment Research upgraded Merit Medical Systems from a “sell” rating to a “hold” rating in a research report on Friday, June 10th. Canaccord Genuity initiated coverage on Merit Medical Systems in a report on Tuesday, July 19th. They set a “buy” rating and a $27.00 target price on the stock. Finally, Barrington Research lowered Merit Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company 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 stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $23.35, for a total transaction of $137,251.30. Following the completion of the sale, the director now directly owns 5,878 shares in the company, valued at approximately $137,251.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael E. Stillabower sold 25,000 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $24.29, for a total value of $607,250.00. Following the sale, the director now owns 52,778 shares of the company’s stock, valued at $1,281,977.62. The disclosure for this sale can be found here. 5.60% of the stock is 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.
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