Macquarie Group Ltd. increased its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 12.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,122,457 shares of the medical instruments supplier’s stock after purchasing an additional 122,138 shares during the quarter. Macquarie Group Ltd. owned approximately 2.24% of Merit Medical Systems worth $42,822,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Flinton Capital Management LLC raised its holdings in shares of Merit Medical Systems by 67.4% in the 2nd quarter. Flinton Capital Management LLC now owns 5,236 shares of the medical instruments supplier’s stock worth $200,000 after purchasing an additional 2,108 shares during the period. Fred Alger Management Inc. purchased a new position in Merit Medical Systems in the 2nd quarter valued at approximately $343,000. Balyasny Asset Management LLC purchased a new position in Merit Medical Systems in the 2nd quarter valued at approximately $1,099,000. Bayesian Capital Management LP purchased a new position in Merit Medical Systems in the 2nd quarter valued at approximately $248,000. Finally, Dimensional Fund Advisors LP grew its stake in Merit Medical Systems by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,694,722 shares of the medical instruments supplier’s stock valued at $102,803,000 after buying an additional 19,257 shares in the last quarter. 89.11% of the stock is currently owned by institutional investors.

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MMSI has been the subject of a number of recent research reports. Citigroup Inc. lowered shares of Merit Medical Systems from a “strong-buy” rating to an “outperform” rating and set a $44.00 price objective for the company. in a research note on Monday, August 28th. They noted that the move was a valuation call. Raymond James Financial, Inc. reiterated an “outperform” rating and issued a $44.00 price objective on shares of Merit Medical Systems in a research note on Monday, August 28th. UBS AG lowered shares of Merit Medical Systems from a “strong-buy” rating to an “outperform” rating in a research note on Monday, August 28th. BidaskClub upgraded shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Finally, Sidoti reiterated a “buy” rating and issued a $46.00 price objective (up from $41.00) on shares of Merit Medical Systems in a research note on Wednesday, June 28th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $41.27.

Merit Medical Systems, Inc. (NASDAQ:MMSI) opened at 45.35 on Friday. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 64.60 and a beta of 1.25. Merit Medical Systems, Inc. has a 1-year low of $20.70 and a 1-year high of $45.50. The company has a 50-day moving average of $41.69 and a 200-day moving average of $36.63.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $181.46 million. During the same period last year, the firm earned $0.26 earnings per share. The company’s quarterly revenue was up 23.4% on a year-over-year basis. Analysts anticipate that Merit Medical Systems, Inc. will post $1.26 earnings per share for the current fiscal year.

In other news, Director F. Ann Millner sold 3,106 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $41.01, for a total transaction of $127,377.06. Following the sale, the director now directly owns 6,750 shares in the company, valued at approximately $276,817.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kent W. Stanger sold 670 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $42.06, for a total transaction of $28,180.20. The disclosure for this sale can be found here. Insiders sold 67,106 shares of company stock worth $2,772,344 over the last quarter. Insiders own 5.00% of the company’s stock.

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.

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

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