Price T Rowe Associates Inc. MD Purchases 1,739 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Share on StockTwits

Price T Rowe Associates Inc. MD boosted its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 6.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 30,089 shares of the medical instruments supplier’s stock after purchasing an additional 1,739 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Merit Medical Systems were worth $1,792,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in MMSI. Conestoga Capital Advisors LLC purchased a new stake in shares of Merit Medical Systems during the second quarter valued at $51,321,000. BlackRock Inc. grew its stake in shares of Merit Medical Systems by 6.2% in the 2nd quarter. BlackRock Inc. now owns 8,567,745 shares of the medical instruments supplier’s stock valued at $510,294,000 after buying an additional 502,387 shares during the period. Invesco Ltd. grew its stake in shares of Merit Medical Systems by 65.4% in the 2nd quarter. Invesco Ltd. now owns 971,691 shares of the medical instruments supplier’s stock valued at $57,874,000 after buying an additional 384,332 shares during the period. Morgan Stanley grew its stake in shares of Merit Medical Systems by 151.5% in the 2nd quarter. Morgan Stanley now owns 330,232 shares of the medical instruments supplier’s stock valued at $19,668,000 after buying an additional 198,936 shares during the period. Finally, Fiera Capital Corp grew its stake in shares of Merit Medical Systems by 474.3% in the 2nd quarter. Fiera Capital Corp now owns 217,276 shares of the medical instruments supplier’s stock valued at $12,941,000 after buying an additional 179,442 shares during the period. Hedge funds and other institutional investors own 98.58% of the company’s stock.

Several research firms have recently weighed in on MMSI. Wells Fargo & Co cut shares of Merit Medical Systems from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $71.00 to $46.00 in a research note on Friday, July 26th. BidaskClub raised shares of Merit Medical Systems from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 18th. Needham & Company LLC cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Raymond James cut shares of Merit Medical Systems from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. Finally, Zacks Investment Research raised shares of Merit Medical Systems from a “sell” rating to a “hold” rating and set a $63.00 price target for the company in a research note on Monday, July 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $52.11.

In other Merit Medical Systems news, COO Ronald Frost bought 5,000 shares of Merit Medical Systems stock in a transaction on Tuesday, July 30th. The shares were bought at an average cost of $40.00 per share, for a total transaction of $200,000.00. Following the acquisition, the chief operating officer now directly owns 5,000 shares in the company, valued at $200,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fred P. Lampropoulos sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $36.86, for a total transaction of $1,474,400.00. Following the sale, the chief executive officer now owns 1,079,991 shares in the company, valued at $39,808,468.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 234,530 shares of company stock worth $7,853,050. Company insiders own 4.75% of the company’s stock.

Shares of MMSI stock opened at $27.87 on Friday. The firm’s 50 day moving average price is $30.87 and its 200-day moving average price is $48.17. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.27 and a current ratio of 2.42. Merit Medical Systems, Inc. has a one year low of $25.67 and a one year high of $65.18. The firm has a market cap of $1.56 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.53 and a beta of 1.07.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Thursday, July 25th. The medical instruments supplier reported $0.42 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.08). Merit Medical Systems had a return on equity of 10.40% and a net margin of 4.10%. The company had revenue of $255.50 million during the quarter, compared to analyst estimates of $258.58 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The business’s revenue was up 13.7% compared to the same quarter last year. As a group, research analysts predict that Merit Medical Systems, Inc. will post 1.78 EPS for the current fiscal year.

Merit Medical Systems Company Profile

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.

Read More: What are trading strategies for the 52-week high/low?

Want to see what other hedge funds are holding MMSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merit Medical Systems, Inc. (NASDAQ:MMSI).

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

Receive News & Ratings for Merit Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merit Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.