California State Teachers Retirement System trimmed its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 9.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 77,940 shares of the medical instruments supplier’s stock after selling 8,244 shares during the quarter. California State Teachers Retirement System’s holdings in Merit Medical Systems were worth $3,301,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. New York State Common Retirement Fund lifted its holdings in shares of Merit Medical Systems by 17.1% during the 2nd quarter. New York State Common Retirement Fund now owns 52,100 shares of the medical instruments supplier’s stock worth $1,988,000 after acquiring an additional 7,599 shares during the last quarter. Fiera Capital Corp bought a new stake in shares of Merit Medical Systems during the 2nd quarter worth $9,958,000. Hodges Capital Management Inc. bought a new stake in shares of Merit Medical Systems during the 3rd quarter worth $14,253,000. Stevens Capital Management LP bought a new stake in shares of Merit Medical Systems during the 3rd quarter worth $594,000. Finally, Fred Alger Management Inc. bought a new stake in shares of Merit Medical Systems during the 2nd quarter worth $343,000. 90.65% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on MMSI shares. ValuEngine raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Tuesday, November 21st. SunTrust Banks set a $47.00 price objective on shares of Merit Medical Systems and gave the stock a “buy” rating in a report on Thursday, November 16th. Zacks Investment Research raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Saturday, October 28th. Canaccord Genuity lifted their price objective on shares of Merit Medical Systems from $45.00 to $47.50 and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $51.00 price objective (up from $46.00) on shares of Merit Medical Systems in a report on Thursday, November 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $43.77.

In related news, Director Franklin J. Miller sold 10,000 shares of Merit Medical Systems stock in a transaction on Friday, December 29th. The shares were sold at an average price of $43.93, for a total value of $439,300.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kent W. Stanger sold 9,082 shares of Merit Medical Systems stock in a transaction on Friday, December 15th. The stock was sold at an average price of $44.90, for a total transaction of $407,781.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,000 shares of company stock worth $1,416,379. 5.00% of the stock is owned by corporate insiders.

Merit Medical Systems, Inc. (NASDAQ MMSI) opened at $44.75 on Wednesday. The company has a market cap of $2,250.00, a price-to-earnings ratio of 74.58, a P/E/G ratio of 2.61 and a beta of 1.23. Merit Medical Systems, Inc. has a 52-week low of $24.23 and a 52-week high of $46.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.78 and a quick ratio of 1.43.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $179.30 million for the quarter, compared to analysts’ expectations of $181.28 million. Merit Medical Systems had a net margin of 4.06% and a return on equity of 9.86%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 EPS. analysts forecast that Merit Medical Systems, Inc. will post 1.27 earnings per share for the current year.

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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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