Merit Medical Systems Inc. (MMSI) Position Raised by Macquarie Group Ltd.
Macquarie Group Ltd. boosted its stake in shares of Merit Medical Systems Inc. (NASDAQ:MMSI) by 27.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 874,579 shares of the company’s stock after buying an additional 188,865 shares during the period. Macquarie Group Ltd. owned about 1.97% of Merit Medical Systems worth $17,343,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of MMSI. PineBridge Investments L.P. raised its stake in shares of Merit Medical Systems by 4.9% in the second quarter. PineBridge Investments L.P. now owns 5,588 shares of the company’s stock valued at $111,000 after buying an additional 263 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Merit Medical Systems by 1.3% in the second quarter. Arizona State Retirement System now owns 23,044 shares of the company’s stock valued at $457,000 after buying an additional 300 shares during the last quarter. Systematic Financial Management LP raised its stake in shares of Merit Medical Systems by 1.0% in the second quarter. Systematic Financial Management LP now owns 90,805 shares of the company’s stock valued at $1,800,000 after buying an additional 895 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Merit Medical Systems by 20.8% in the second quarter. Teacher Retirement System of Texas now owns 6,243 shares of the company’s stock valued at $124,000 after buying an additional 1,075 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Merit Medical Systems by 6.9% in the second quarter. Thrivent Financial for Lutherans now owns 21,685 shares of the company’s stock valued at $430,000 after buying an additional 1,400 shares during the last quarter. 90.12% of the stock is owned by institutional investors.
Shares of Merit Medical Systems Inc. (NASDAQ:MMSI) traded up 0.83% during midday trading on Friday, hitting $24.30. 63,228 shares of the stock were exchanged. The firm’s 50-day moving average is $23.05 and its 200 day moving average is $22.07. Merit Medical Systems Inc. has a 52-week low of $15.47 and a 52-week high of $25.10. The firm has a market cap of $1.08 billion, a PE ratio of 57.86 and a beta of 0.91.
Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.03. The firm had revenue of $157 million for the quarter, compared to analysts’ expectations of $155.06 million. Merit Medical Systems had a net margin of 3.25% and a return on equity of 8.85%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 EPS. On average, analysts forecast that Merit Medical Systems Inc. will post $1.00 earnings per share for the current year.
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Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. Canaccord Genuity set a $29.00 target price on shares of Merit Medical Systems and gave the company a “buy” rating in a research report on Monday, October 24th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Merit Medical Systems currently has an average rating of “Buy” and an average price target of $24.00.
In related news, Director A Scott Anderson sold 12,000 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $24.10, for a total value of $289,200.00. Following the completion of the sale, the director now directly owns 9,400 shares of the company’s stock, valued at approximately $226,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.
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