Merit Medical Systems, Inc. $MMSI Stock Sold by Sterling Capital Management LLC

Sterling Capital Management LLC cut its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 91.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,246 shares of the medical instruments supplier’s stock after selling 13,895 shares during the period. Sterling Capital Management LLC’s holdings in Merit Medical Systems were worth $107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kilter Group LLC bought a new position in Merit Medical Systems in the 2nd quarter worth approximately $25,000. IFP Advisors Inc boosted its position in shares of Merit Medical Systems by 88.6% during the third quarter. IFP Advisors Inc now owns 694 shares of the medical instruments supplier’s stock worth $60,000 after acquiring an additional 326 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in shares of Merit Medical Systems during the second quarter worth $50,000. Farther Finance Advisors LLC grew its stake in Merit Medical Systems by 44.0% during the third quarter. Farther Finance Advisors LLC now owns 890 shares of the medical instruments supplier’s stock valued at $77,000 after acquiring an additional 272 shares in the last quarter. Finally, State of Wyoming purchased a new stake in Merit Medical Systems in the 2nd quarter worth $79,000. 99.66% of the stock is currently owned by institutional investors.

Merit Medical Systems Stock Down 2.2%

Shares of MMSI opened at $84.31 on Tuesday. The firm has a market capitalization of $5.03 billion, a P/E ratio of 31.70, a P/E/G ratio of 2.30 and a beta of 0.51. The firm has a fifty day moving average price of $88.47 and a 200-day moving average price of $77.15. Merit Medical Systems, Inc. has a 12-month low of $59.74 and a 12-month high of $94.85. The company has a current ratio of 4.20, a quick ratio of 2.79 and a debt-to-equity ratio of 0.44.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, October 29th. The medical instruments supplier reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.08. The firm had revenue of $416.24 million during the quarter, compared to the consensus estimate of $410.56 million. Merit Medical Systems had a net margin of 9.22% and a return on equity of 13.75%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Equities research analysts expect that Merit Medical Systems, Inc. will post 3.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on MMSI. Weiss Ratings raised shares of Merit Medical Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, October 12th. JPMorgan Chase & Co. lifted their target price on Merit Medical Systems from $95.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday. BTIG Research boosted their target price on Merit Medical Systems from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America upped their price objective on Merit Medical Systems from $92.00 to $97.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Finally, Robert W. Baird set a $98.00 target price on shares of Merit Medical Systems in a report on Friday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $105.55.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc is a medical device company that develops, manufactures and distributes disposable products used in interventional, diagnostic and therapeutic procedures. Its devices are designed for use by healthcare professionals in hospitals, outpatient facilities and other clinical settings.

The company’s product portfolio includes devices for vascular access, angiography, intervention, drainage, embolization, oncology and cardiac procedures. Merit also offers products used in peripheral intervention, spine procedures and other specialized areas of minimally invasive medicine, including kits, accessories and related procedural equipment.

Founded in 1987 and headquartered in South Jordan, Utah, Merit Medical serves healthcare providers through a global commercial and manufacturing network.