TIAA CREF Investment Management LLC Has $6.74 Million Position in Merit Medical Systems, Inc. (MMSI)

TIAA CREF Investment Management LLC cut its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 24.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 176,727 shares of the medical instruments supplier’s stock after selling 57,555 shares during the period. TIAA CREF Investment Management LLC owned 0.35% of Merit Medical Systems worth $6,742,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MMSI. Russell Investments Group Ltd. boosted its holdings in Merit Medical Systems by 50.4% in the 1st quarter. Russell Investments Group Ltd. now owns 28,711 shares of the medical instruments supplier’s stock worth $830,000 after buying an additional 9,625 shares during the period. First Trust Advisors LP boosted its holdings in Merit Medical Systems by 83.4% in the 1st quarter. First Trust Advisors LP now owns 31,850 shares of the medical instruments supplier’s stock worth $920,000 after buying an additional 14,487 shares during the period. Bank of New York Mellon Corp boosted its holdings in Merit Medical Systems by 14.3% in the 1st quarter. Bank of New York Mellon Corp now owns 616,121 shares of the medical instruments supplier’s stock worth $17,806,000 after buying an additional 76,912 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Merit Medical Systems by 21.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,017 shares of the medical instruments supplier’s stock worth $289,000 after buying an additional 1,775 shares during the period. Finally, Swiss National Bank boosted its holdings in Merit Medical Systems by 10.1% in the 1st quarter. Swiss National Bank now owns 81,700 shares of the medical instruments supplier’s stock worth $2,361,000 after buying an additional 7,500 shares during the period. 89.11% of the stock is owned by institutional investors.

Merit Medical Systems, Inc. (NASDAQ:MMSI) opened at 42.95 on Friday. Merit Medical Systems, Inc. has a one year low of $20.70 and a one year high of $45.50. The firm has a 50-day moving average of $42.00 and a 200 day moving average of $37.05. The company has a market capitalization of $2.15 billion, a P/E ratio of 61.18 and a beta of 1.25.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data 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 firm 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 company’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 earnings per share. On average, equities analysts forecast that Merit Medical Systems, Inc. will post $1.26 EPS for the current fiscal year.

In other news, Director Kent W. Stanger sold 670 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $42.06, for a total value of $28,180.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard W. Edelman sold 29,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $41.19, for a total transaction of $1,194,510.00. Following the completion of the sale, the insider now directly owns 35,000 shares of the company’s stock, valued at $1,441,650. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,106 shares of company stock valued at $2,772,344. Corporate insiders own 5.00% of the company’s stock.

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MMSI has been the subject of several analyst reports. SunTrust Banks, Inc. initiated coverage on shares of Merit Medical Systems in a report on Tuesday, June 20th. They issued a “buy” rating and a $43.00 price objective for the company. Piper Jaffray Companies reissued an “overweight” rating and issued a $39.00 price target on shares of Merit Medical Systems in a report on Monday, June 26th. BidaskClub raised shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Sidoti reissued a “buy” rating and issued a $46.00 price target (up from $41.00) on shares of Merit Medical Systems in a report on Wednesday, June 28th. Finally, Bank of America Corporation assumed coverage on shares of Merit Medical Systems in a report on Thursday, July 20th. They issued a “buy” rating and a $44.00 price target for the company. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $41.27.

Merit Medical Systems Profile

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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Institutional Ownership by Quarter for Merit Medical Systems (NASDAQ:MMSI)

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