Merit Medical Systems, Inc. (MMSI) Shares Bought by BlackRock Inc.

BlackRock Inc. grew its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 11.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,045,772 shares of the medical instruments supplier’s stock after purchasing an additional 698,458 shares during the quarter. BlackRock Inc. owned approximately 12.88% of Merit Medical Systems worth $360,744,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Piedmont Investment Advisors LLC increased its position in shares of Merit Medical Systems by 9.1% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 11,725 shares of the medical instruments supplier’s stock valued at $600,000 after purchasing an additional 981 shares during the last quarter. Amalgamated Bank increased its holdings in Merit Medical Systems by 14.4% in the 2nd quarter. Amalgamated Bank now owns 8,025 shares of the medical instruments supplier’s stock worth $411,000 after acquiring an additional 1,010 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in Merit Medical Systems by 4.8% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 24,310 shares of the medical instruments supplier’s stock worth $1,103,000 after acquiring an additional 1,110 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Merit Medical Systems by 0.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 270,682 shares of the medical instruments supplier’s stock worth $13,859,000 after acquiring an additional 1,297 shares during the last quarter. Finally, Comerica Bank increased its holdings in Merit Medical Systems by 2.5% in the 1st quarter. Comerica Bank now owns 53,914 shares of the medical instruments supplier’s stock worth $2,458,000 after acquiring an additional 1,328 shares during the last quarter. 86.97% of the stock is owned by hedge funds and other institutional investors.

In other Merit Medical Systems news, Director Franklin J. Miller sold 7,206 shares of the firm’s stock in a transaction dated Monday, June 25th. The stock was sold at an average price of $50.60, for a total value of $364,623.60. Following the completion of the transaction, the director now owns 12,744 shares in the company, valued at approximately $644,846.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Franklin J. Miller sold 1,500 shares of the firm’s stock in a transaction dated Thursday, June 21st. The stock was sold at an average price of $50.05, for a total value of $75,075.00. Following the completion of the transaction, the director now owns 12,744 shares of the company’s stock, valued at approximately $637,837.20. The disclosure for this sale can be found here. 5.00% of the stock is owned by company insiders.

Shares of MMSI opened at $62.05 on Friday. Merit Medical Systems, Inc. has a fifty-two week low of $36.21 and a fifty-two week high of $62.70. The stock has a market capitalization of $3.35 billion, a P/E ratio of 48.48, a PEG ratio of 2.89 and a beta of 1.33. The company has a quick ratio of 1.45, a current ratio of 2.66 and a debt-to-equity ratio of 0.56.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Monday, July 23rd. The medical instruments supplier reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. Merit Medical Systems had a return on equity of 10.48% and a net margin of 2.44%. The business had revenue of $224.81 million during the quarter, compared to the consensus estimate of $214.64 million. During the same quarter last year, the company earned $0.36 EPS. The firm’s revenue was up 20.5% compared to the same quarter last year. sell-side analysts expect that Merit Medical Systems, Inc. will post 1.64 earnings per share for the current year.

MMSI has been the subject of several recent research reports. SunTrust Banks lifted their price objective on Merit Medical Systems to $68.00 and gave the stock a “buy” rating in a report on Monday, August 27th. Bank of America lowered Merit Medical Systems from a “buy” rating to an “underperform” rating and set a $64.00 price objective for the company. in a report on Tuesday, August 7th. Needham & Company LLC lifted their price objective on Merit Medical Systems from $54.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. BidaskClub lowered Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 7th. Finally, Wells Fargo & Co lifted their price objective on Merit Medical Systems from $53.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, June 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $63.25.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets various disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.

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

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