Jane Street Group LLC Purchases New Position in Merit Medical Systems, Inc. (MMSI)
Jane Street Group LLC bought a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 8,369 shares of the medical instruments supplier’s stock, valued at approximately $242,000.
Other hedge funds have also made changes to their positions in the company. Mason Street Advisors LLC increased its stake in shares of Merit Medical Systems by 17.9% in the first quarter. Mason Street Advisors LLC now owns 11,491 shares of the medical instruments supplier’s stock worth $332,000 after buying an additional 1,748 shares in the last quarter. Norges Bank acquired a new stake in Merit Medical Systems during the fourth quarter worth $7,773,000. MARSHALL WACE ASIA Ltd acquired a new stake in Merit Medical Systems during the first quarter worth $15,657,000. Russell Investments Group Ltd. acquired a new stake in Merit Medical Systems during the fourth quarter worth $503,000. Finally, Swiss National Bank boosted its stake in Merit Medical Systems by 10.1% in the first 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 in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.
Merit Medical Systems, Inc. (NASDAQ:MMSI) traded down 0.48% during midday trading on Thursday, reaching $41.30. The company’s stock had a trading volume of 373,027 shares. Merit Medical Systems, Inc. has a 12 month low of $20.70 and a 12 month high of $42.25. The stock has a 50-day moving average price of $37.83 and a 200 day moving average price of $32.25. The company has a market cap of $2.06 billion, a PE ratio of 59.86 and a beta of 1.25.
Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.07. Merit Medical Systems had a net margin of 4.87% and a return on equity of 9.78%. The firm had revenue of $186.50 million for the quarter, compared to analyst estimates of $181.46 million. During the same period in the prior year, the firm earned $0.26 earnings per share. The business’s quarterly revenue was up 23.4% compared to the same quarter last year. Analysts expect that Merit Medical Systems, Inc. will post $1.24 earnings per share for the current fiscal year.
Several research firms have recently commented on MMSI. Bank of America Corporation assumed coverage on Merit Medical Systems in a research note on Thursday, July 20th. They issued a “buy” rating and a $44.00 target price for the company. Sidoti reiterated a “buy” rating and set a $46.00 target price (up from $41.00) on shares of Merit Medical Systems in a report on Wednesday, June 28th. Wells Fargo & Company began coverage on Merit Medical Systems in a report on Wednesday, April 5th. They issued an “outperform” rating and a $31.70 price target on the stock. BidaskClub upgraded Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $37.00 target price on shares of Merit Medical Systems in a research report on Friday, April 28th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $39.74.
In other Merit Medical Systems news, insider Richard W. Edelman sold 20,000 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $37.62, for a total value of $752,400.00. Following the transaction, the insider now directly owns 35,000 shares in the company, valued at $1,316,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard W. Edelman sold 29,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $41.19, for a total transaction of $1,194,510.00. Following the completion of the transaction, the insider now owns 35,000 shares in the company, valued at $1,441,650. The disclosure for this sale can be found here. Insiders have sold 111,944 shares of company stock worth $4,138,637 over the last 90 days. Insiders own 5.60% of the company’s stock.
Merit Medical Systems Company 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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