BlueCrest Capital Management Ltd purchased a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,238 shares of the medical instruments supplier’s stock, valued at approximately $276,000.

A number of other institutional investors have also recently made changes to their positions in MMSI. BlackRock Inc. raised its holdings in shares of Merit Medical Systems by 7,837.9% in the first quarter. BlackRock Inc. now owns 6,789,527 shares of the medical instruments supplier’s stock worth $196,218,000 after buying an additional 6,703,994 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Merit Medical Systems by 922.3% in the second quarter. Janus Henderson Group PLC now owns 1,533,513 shares of the medical instruments supplier’s stock worth $58,504,000 after buying an additional 1,383,513 shares during the period. Vanguard Group Inc. raised its holdings in shares of Merit Medical Systems by 16.1% in the first quarter. Vanguard Group Inc. now owns 4,186,883 shares of the medical instruments supplier’s stock worth $121,001,000 after buying an additional 580,871 shares during the period. Frontier Capital Management Co. LLC raised its holdings in shares of Merit Medical Systems by 24.8% in the second quarter. Frontier Capital Management Co. LLC now owns 2,737,303 shares of the medical instruments supplier’s stock worth $104,428,000 after buying an additional 543,580 shares during the period. Finally, AMI Asset Management Corp purchased a new stake in shares of Merit Medical Systems in the second quarter worth approximately $15,939,000. 89.13% of the stock is owned by institutional investors.

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Merit Medical Systems, Inc. (NASDAQ MMSI) opened at 41.65 on Friday. Merit Medical Systems, Inc. has a one year low of $20.70 and a one year high of $45.50. The stock has a 50 day moving average price of $42.24 and a 200 day moving average price of $37.53. The firm has a market cap of $2.09 billion, a PE ratio of 59.33 and a beta of 1.25.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.07. The firm had revenue of $186.50 million during the quarter, compared to the consensus estimate of $181.46 million. Merit Medical Systems had a net margin of 4.87% and a return on equity of 9.78%. The firm’s revenue was up 23.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 earnings per share. Equities research analysts expect that Merit Medical Systems, Inc. will post $1.26 EPS for the current year.

Several research firms have commented on MMSI. Citigroup Inc. downgraded Merit Medical Systems from a “strong-buy” rating to an “outperform” rating and set a $44.00 price objective on the stock. in a report on Monday, August 28th. They noted that the move was a valuation call. Raymond James Financial, Inc. reiterated an “outperform” rating and issued a $44.00 price target on shares of Merit Medical Systems in a report on Monday, August 28th. UBS AG downgraded Merit Medical Systems from a “strong-buy” rating to an “outperform” rating in a report on Monday, August 28th. Sidoti reiterated a “buy” rating and issued a $46.00 price target (up from $41.00) on shares of Merit Medical Systems in a report on Wednesday, June 28th. Finally, BidaskClub raised Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $41.27.

In other news, Director F. Ann Millner sold 3,106 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $41.01, for a total transaction of $127,377.06. Following the completion of the transaction, the director now directly owns 6,750 shares of the company’s stock, valued at approximately $276,817.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kent W. Stanger sold 670 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $42.06, for a total transaction of $28,180.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,106 shares of company stock valued at $2,772,344. 5.00% of the stock is currently owned by corporate insiders.

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

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