Engineers Gate Manager LP bought a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,138 shares of the medical instruments supplier’s stock, valued at approximately $641,000.

A number of other large investors have also recently added to or reduced their stakes in MMSI. Aperio Group LLC increased its position in Merit Medical Systems by 3.9% during the 2nd quarter. Aperio Group LLC now owns 10,467 shares of the medical instruments supplier’s stock valued at $399,000 after purchasing an additional 391 shares during the period. Great West Life Assurance Co. Can increased its position in Merit Medical Systems by 6.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 72,856 shares of the medical instruments supplier’s stock valued at $2,775,000 after purchasing an additional 4,310 shares during the period. Schwab Charles Investment Management Inc. increased its position in Merit Medical Systems by 11.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 224,414 shares of the medical instruments supplier’s stock valued at $8,562,000 after purchasing an additional 22,718 shares during the period. Arizona State Retirement System increased its position in Merit Medical Systems by 12.0% during the 2nd quarter. Arizona State Retirement System now owns 26,044 shares of the medical instruments supplier’s stock valued at $994,000 after purchasing an additional 2,800 shares during the period. Finally, First Trust Advisors LP increased its position in Merit Medical Systems by 100.5% during the 2nd quarter. First Trust Advisors LP now owns 63,853 shares of the medical instruments supplier’s stock valued at $2,436,000 after purchasing an additional 32,003 shares during the period. 90.89% of the stock is owned by institutional investors and hedge funds.

A number of research firms have weighed in on MMSI. Raymond James Financial reissued an “outperform” rating and set a $44.00 target price on shares of Merit Medical Systems in a research report on Monday, August 28th. Citigroup downgraded shares of Merit Medical Systems from a “strong-buy” rating to an “outperform” rating and set a $44.00 target price for the company. in a research report on Monday, August 28th. They noted that the move was a valuation call. ValuEngine downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. UBS downgraded shares of Merit Medical Systems from a “strong-buy” rating to an “outperform” rating in a research report on Monday, August 28th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $51.00 target price (up previously from $46.00) on shares of Merit Medical Systems in a research report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $43.77.

In other Merit Medical Systems news, Director Kent W. Stanger sold 2,918 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $44.55, for a total transaction of $129,996.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.00% of the stock is currently owned by corporate insiders.

Merit Medical Systems, Inc. (NASDAQ MMSI) opened at $44.90 on Friday. The stock has a market capitalization of $2,183.65, a P/E ratio of 34.25, a price-to-earnings-growth ratio of 2.95 and a beta of 1.23. Merit Medical Systems, Inc. has a twelve month low of $24.23 and a twelve month high of $45.50. The company has a current ratio of 2.78, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39.

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

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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.

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

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