Profund Advisors LLC raised its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 16.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,243 shares of the medical instruments supplier’s stock after acquiring an additional 1,329 shares during the quarter. Profund Advisors LLC’s holdings in Merit Medical Systems were worth $353,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan lifted its stake in Merit Medical Systems by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 13,170 shares of the medical instruments supplier’s stock worth $380,000 after acquiring an additional 210 shares during the last quarter. LS Investment Advisors LLC lifted its stake in Merit Medical Systems by 8.1% in the second quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock worth $141,000 after acquiring an additional 277 shares during the last quarter. Arizona State Retirement System lifted its stake in Merit Medical Systems by 1.3% in the first quarter. Arizona State Retirement System now owns 23,244 shares of the medical instruments supplier’s stock worth $672,000 after acquiring an additional 300 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Merit Medical Systems by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 20,300 shares of the medical instruments supplier’s stock worth $774,000 after acquiring an additional 300 shares during the last quarter. Finally, Aperio Group LLC lifted its stake in Merit Medical Systems by 3.9% in the second quarter. Aperio Group LLC now owns 10,467 shares of the medical instruments supplier’s stock worth $399,000 after acquiring an additional 391 shares during the last quarter. Institutional investors own 89.11% of the company’s stock.

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) opened at 45.35 on Friday. Merit Medical Systems, Inc. has a 12 month low of $20.70 and a 12 month high of $45.50. The stock’s 50 day moving average is $41.69 and its 200 day moving average is $36.63. The stock has a market cap of $2.27 billion, a P/E ratio of 64.60 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 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.07. Merit Medical Systems had a return on equity of 9.78% and a net margin of 4.87%. The firm had revenue of $186.50 million for the quarter, compared to analysts’ expectations of $181.46 million. During the same period last year, the business posted $0.26 earnings per share. The firm’s revenue for the quarter was up 23.4% on a year-over-year basis. Analysts predict that Merit Medical Systems, Inc. will post $1.26 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on MMSI shares. Craig Hallum reiterated a “buy” rating and issued a $50.00 price target (up previously from $42.00) on shares of Merit Medical Systems in a research note on Thursday, July 27th. SunTrust Banks, Inc. assumed coverage on shares of Merit Medical Systems in a research report on Tuesday, June 20th. They set a “buy” rating and a $43.00 price objective for the company. Zacks Investment Research downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Tuesday. Piper Jaffray Companies restated a “buy” rating and set a $45.00 price objective on shares of Merit Medical Systems in a research report on Friday, July 28th. Finally, Canaccord Genuity restated a “buy” rating and set a $45.00 price objective on shares of Merit Medical Systems in a research report on Wednesday, September 6th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $41.27.

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In related news, Director F. Ann Millner sold 3,106 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $41.01, for a total transaction of $127,377.06. Following the transaction, the director now directly owns 6,750 shares in the company, valued at $276,817.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard W. Edelman sold 29,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $41.19, for a total value of $1,194,510.00. Following the transaction, the insider now owns 35,000 shares in the company, valued at $1,441,650. The disclosure for this sale can be found here. Insiders have sold 67,106 shares of company stock worth $2,772,344 over the last 90 days. 5.00% of the stock is currently owned by company insiders.

Merit Medical Systems 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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