Oak Ridge Investments LLC Invests $9.03 Million in Merit Medical Systems, Inc. (MMSI) Stock

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Oak Ridge Investments LLC bought a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 145,968 shares of the medical instruments supplier’s stock, valued at approximately $9,025,000.

A number of other large investors have also bought and sold shares of MMSI. Bessemer Group Inc. acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at $2,350,000. Roubaix Capital LLC acquired a new stake in shares of Merit Medical Systems in the first quarter valued at $4,352,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at $4,147,000. MML Investors Services LLC acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at $504,000. Finally, Bank of America Corp DE grew its stake in shares of Merit Medical Systems by 6.5% in the fourth quarter. Bank of America Corp DE now owns 379,199 shares of the medical instruments supplier’s stock valued at $21,164,000 after buying an additional 23,277 shares in the last quarter. Institutional investors own 97.45% of the company’s stock.

A number of brokerages have recently weighed in on MMSI. BidaskClub cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Zacks Investment Research cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. ValuEngine cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Merit Medical Systems in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $67.80.

In other news, Director Michael E. Stillabower sold 10,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $58.05, for a total transaction of $580,500.00. Following the completion of the transaction, the director now directly owns 63,618 shares of the company’s stock, valued at approximately $3,693,024.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Franklin J. Miller sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. Following the transaction, the director now directly owns 34,038 shares of the company’s stock, valued at $2,057,256.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,216 shares of company stock valued at $2,579,837. Insiders own 4.75% of the company’s stock.

MMSI traded up $0.58 on Friday, hitting $52.75. 236,204 shares of the company were exchanged, compared to its average volume of 379,594. Merit Medical Systems, Inc. has a twelve month low of $47.30 and a twelve month high of $66.34. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 2.29 and a beta of 1.03. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.36 and a quick ratio of 1.25.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Tuesday, April 23rd. The medical instruments supplier reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Merit Medical Systems had a return on equity of 10.99% and a net margin of 4.68%. The firm had revenue of $238.35 million during the quarter, compared to analysts’ expectations of $236.53 million. During the same period in the previous year, the firm posted $0.31 EPS. Merit Medical Systems’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, research analysts anticipate that Merit Medical Systems, Inc. will post 2.02 earnings per share for the current year.

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About Merit Medical Systems

Merit Medical Systems, Inc manufactures and markets 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 peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.

Further Reading: Moving Average Convergence Divergence (MACD)

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

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