We Are One Seven LLC acquired a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,941 shares of the medical instruments supplier’s stock, valued at approximately $170,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMSI. Eagle Asset Management Inc. increased its stake in Merit Medical Systems by 209.5% in the 4th quarter. Eagle Asset Management Inc. now owns 1,874,146 shares of the medical instruments supplier’s stock valued at $81,018,000 after purchasing an additional 1,268,635 shares in the last quarter. Carillon Tower Advisers Inc. purchased a new position in Merit Medical Systems in the 4th quarter valued at approximately $13,788,000. Perceptive Advisors LLC increased its stake in Merit Medical Systems by 774.0% in the 4th quarter. Perceptive Advisors LLC now owns 874,013 shares of the medical instruments supplier’s stock valued at $37,757,000 after purchasing an additional 774,013 shares in the last quarter. OppenheimerFunds Inc. increased its stake in Merit Medical Systems by 2,548.7% in the 4th quarter. OppenheimerFunds Inc. now owns 313,866 shares of the medical instruments supplier’s stock valued at $13,559,000 after purchasing an additional 302,016 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in Merit Medical Systems by 1,420.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 304,049 shares of the medical instruments supplier’s stock valued at $12,876,000 after purchasing an additional 284,049 shares in the last quarter. 95.32% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on MMSI shares. Wells Fargo reaffirmed an “outperform” rating and issued a $51.00 price objective (up from $46.00) on shares of Merit Medical Systems in a research note on Thursday, November 30th. ValuEngine downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. BidaskClub downgraded Merit Medical Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. Zacks Investment Research downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. Finally, Barrington Research raised Merit Medical Systems from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Thursday, March 1st. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $46.42.
Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. The business had revenue of $190.90 million during the quarter, compared to the consensus estimate of $187.62 million. Merit Medical Systems had a return on equity of 9.65% and a net margin of 3.78%. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. sell-side analysts forecast that Merit Medical Systems, Inc. will post 1.64 EPS for the current fiscal year.
In other news, Director Franklin J. Miller sold 10,000 shares of Merit Medical Systems stock in a transaction on Friday, December 29th. The stock was sold at an average price of $43.93, for a total value of $439,300.00. Following the completion of the sale, the director now owns 21,244 shares of the company’s stock, valued at $933,248.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.00% of the stock is owned by insiders.
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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