Voya Investment Management LLC decreased its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 23.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 860,097 shares of the medical instruments supplier’s stock after selling 265,851 shares during the period. Voya Investment Management LLC owned 1.72% of Merit Medical Systems worth $32,812,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MMSI. BlackRock Inc. grew its holdings in shares of Merit Medical Systems by 7,837.9% during the first quarter. BlackRock Inc. now owns 6,789,527 shares of the medical instruments supplier’s stock valued at $196,218,000 after buying an additional 6,703,994 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Merit Medical Systems by 16.1% during the first quarter. Vanguard Group Inc. now owns 4,186,883 shares of the medical instruments supplier’s stock valued at $121,001,000 after buying an additional 580,871 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of Merit Medical Systems by 24.8% during the second quarter. Frontier Capital Management Co. LLC now owns 2,737,303 shares of the medical instruments supplier’s stock valued at $104,428,000 after buying an additional 543,580 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Merit Medical Systems during the first quarter valued at approximately $15,657,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Merit Medical Systems during the first quarter valued at approximately $15,657,000. 89.11% of the stock is owned by institutional investors and hedge funds.

In other Merit Medical Systems news, Director Kent W. Stanger sold 670 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $42.06, for a total transaction of $28,180.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Richard W. Edelman sold 29,000 shares of the company’s 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 transaction, the insider now owns 35,000 shares in the company, valued at approximately $1,441,650. The disclosure for this sale can be found here. Insiders have sold a total of 67,106 shares of company stock worth $2,772,344 in the last 90 days. 5.00% of the stock is currently owned by company insiders.

A number of equities research analysts have recently commented on the stock. Canaccord Genuity reiterated a “buy” rating and set a $45.00 price target on shares of Merit Medical Systems in a report on Wednesday, September 6th. Raymond James Financial, Inc. reiterated an “outperform” rating and set a $44.00 price target on shares of Merit Medical Systems in a report on Monday, August 28th. Citigroup Inc. cut shares of Merit Medical Systems from a “strong-buy” rating to an “outperform” rating and set a $44.00 price target on the stock. in a report on Monday, August 28th. They noted that the move was a valuation call. UBS AG cut shares of Merit Medical Systems from a “strong-buy” rating to an “outperform” rating in a report on Monday, August 28th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $45.00 price target on shares of Merit Medical Systems in a report on Friday, July 28th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Merit Medical Systems presently has a consensus rating of “Buy” and a consensus target price of $41.25.

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Shares of Merit Medical Systems, Inc. (NASDAQ MMSI) opened at 42.35 on Friday. The company has a 50-day moving average of $41.13 and a 200 day moving average of $35.57. The stock has a market cap of $2.12 billion, a PE ratio of 60.33 and a beta of 1.25. Merit Medical Systems, Inc. has a one year low of $20.70 and a one year high of $42.60.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, beating 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 business had revenue of $186.50 million for the quarter, compared to analyst estimates of $181.46 million. During the same quarter in the prior year, the business posted $0.26 EPS. Merit Medical Systems’s revenue for the quarter was up 23.4% compared to the same quarter last year. On average, analysts predict that Merit Medical Systems, Inc. will post $1.26 earnings per share for the current year.

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

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