QS Investors LLC reduced its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 3.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 139,544 shares of the medical instruments supplier’s stock after selling 4,552 shares during the period. QS Investors LLC owned approximately 0.28% of Merit Medical Systems worth $6,028,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Virtus Fund Advisers LLC acquired a new stake in Merit Medical Systems during the 4th quarter worth approximately $160,000. SG Americas Securities LLC bought a new position in shares of Merit Medical Systems during the 3rd quarter worth approximately $189,000. Wolverine Trading LLC bought a new position in shares of Merit Medical Systems during the 3rd quarter worth approximately $226,000. Asset Management One Co. Ltd. bought a new position in shares of Merit Medical Systems during the 3rd quarter worth approximately $230,000. Finally, Hanseatic Management Services Inc. bought a new position in shares of Merit Medical Systems during the 3rd quarter worth approximately $233,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.
In related news, Director Kent W. Stanger sold 9,082 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $44.90, for a total value of $407,781.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Franklin J. Miller sold 10,000 shares of the firm’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $43.93, for a total transaction of $439,300.00. Following the completion of the transaction, the director now directly owns 21,244 shares of the company’s stock, valued at $933,248.92. The disclosure for this sale can be found here. Insiders sold 29,082 shares of company stock valued at $1,286,382 over the last three months. 5.00% of the stock is owned by company insiders.
Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. Merit Medical Systems had a net margin of 3.78% and a return on equity of 9.65%. The business had revenue of $190.90 million during the quarter, compared to analysts’ expectations of $187.62 million. During the same period last year, the business earned $0.31 earnings per share. The firm’s revenue was up 21.0% on a year-over-year basis. research analysts anticipate that Merit Medical Systems, Inc. will post 1.64 EPS for the current fiscal year.
MMSI has been the subject of several research reports. SunTrust Banks raised their price target on shares of Merit Medical Systems from $1.64 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Saturday, March 3rd. ValuEngine raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st. Canaccord Genuity raised their price target on shares of Merit Medical Systems from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, March 1st. Finally, BidaskClub raised shares of Merit Medical Systems from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $46.42.
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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.
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