Frontier Capital Management Co. LLC decreased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 42.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,570,756 shares of the medical instruments supplier’s stock after selling 1,166,547 shares during the period. Frontier Capital Management Co. LLC owned about 3.13% of Merit Medical Systems worth $66,522,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MMSI. SG Americas Securities LLC bought a new stake in shares of Merit Medical Systems in the 1st quarter worth about $134,000. LS Investment Advisors LLC increased its position in shares of Merit Medical Systems by 8.1% in the 2nd quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock worth $141,000 after purchasing an additional 277 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Merit Medical Systems by 28.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock worth $142,000 after purchasing an additional 820 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Merit Medical Systems by 20.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,272 shares of the medical instruments supplier’s stock worth $163,000 after purchasing an additional 738 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its position in shares of Merit Medical Systems by 67.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,198 shares of the medical instruments supplier’s stock worth $198,000 after purchasing an additional 2,098 shares during the last quarter. 90.40% of the stock is owned by institutional investors.

In related news, Director A Scott Anderson sold 25,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $41.15, for a total transaction of $1,028,750.00. Following the completion of the sale, the director now owns 10,400 shares of the company’s stock, valued at approximately $427,960. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kent W. Stanger sold 670 shares of the business’s stock in a transaction dated 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. In the last ninety days, insiders have sold 35,000 shares of company stock valued at $1,450,457. Insiders own 5.00% of the company’s stock.

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) traded up $0.75 during trading hours on Friday, hitting $37.95. 236,063 shares of the company were exchanged, compared to its average volume of 519,490. The company has a current ratio of 2.78, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39. The firm has a market cap of $1.89 billion, a P/E ratio of 29.65, a P/E/G ratio of 2.55 and a beta of 1.20.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. Merit Medical Systems had a net margin of 4.06% and a return on equity of 9.86%. The business had revenue of $179.30 million during the quarter, compared to the consensus estimate of $181.28 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. analysts anticipate that Merit Medical Systems, Inc. will post 1.27 earnings per share for the current year.

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Several equities research analysts have recently weighed in on the stock. Canaccord Genuity reissued a “buy” rating and issued a $45.00 target price on shares of Merit Medical Systems in a research report on Sunday, October 8th. Zacks Investment Research downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Piper Jaffray Companies reissued a “buy” rating and issued a $45.00 target price on shares of Merit Medical Systems in a research report on Friday, July 28th. Raymond James Financial, Inc. reissued an “outperform” rating and issued a $44.00 target price on shares of Merit Medical Systems in a research report on Monday, August 28th. Finally, UBS Group AG (USA) downgraded shares of Merit Medical Systems from a “strong-buy” rating to an “outperform” rating in a research report on Monday, August 28th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $41.65.

About Merit Medical Systems

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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