Russell Investments Group Ltd. Buys 330,484 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)
Russell Investments Group Ltd. raised its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1,151.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 359,195 shares of the medical instruments supplier’s stock after buying an additional 330,484 shares during the period. Russell Investments Group Ltd.’s holdings in Merit Medical Systems were worth $13,704,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Mason Street Advisors LLC raised its stake in Merit Medical Systems by 17.9% in the first quarter. Mason Street Advisors LLC now owns 11,491 shares of the medical instruments supplier’s stock worth $332,000 after buying an additional 1,748 shares during the last quarter. Norges Bank acquired a new stake in Merit Medical Systems during the fourth quarter worth $7,773,000. MARSHALL WACE ASIA Ltd acquired a new stake in Merit Medical Systems during the first quarter worth $15,657,000. Swiss National Bank raised its stake in Merit Medical Systems by 10.1% in the first quarter. Swiss National Bank now owns 81,700 shares of the medical instruments supplier’s stock worth $2,361,000 after buying an additional 7,500 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in 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 last quarter. Institutional investors and hedge funds own 92.11% of the company’s stock.
Merit Medical Systems, Inc. (MMSI) traded up 0.13% during mid-day trading on Friday, reaching $39.85. The company’s stock had a trading volume of 121,085 shares. Merit Medical Systems, Inc. has a 12-month low of $20.70 and a 12-month high of $42.60. The firm’s 50 day moving average price is $38.96 and its 200 day moving average price is $32.89. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 56.77 and a beta of 1.26.
Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.07. The firm had revenue of $186.50 million for the quarter, compared to the consensus estimate of $181.46 million. Merit Medical Systems had a return on equity of 9.78% and a net margin of 4.87%. The company’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.26 EPS. On average, equities analysts predict that Merit Medical Systems, Inc. will post $1.26 earnings per share for the current year.
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MMSI has been the topic of a number of recent analyst reports. BidaskClub upgraded Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research upgraded Merit Medical Systems from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Thursday, June 22nd. SunTrust Banks, Inc. initiated coverage on Merit Medical Systems in a research note on Tuesday, June 20th. They issued a “buy” rating and a $43.00 target price on the stock. Piper Jaffray Companies reiterated an “overweight” rating and issued a $39.00 target price on shares of Merit Medical Systems in a research note on Monday, June 26th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $37.00 target price on shares of Merit Medical Systems in a research note on Friday, April 28th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $39.74.
In related news, insider Richard W. Edelman sold 29,000 shares of the business’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 sale, the insider now owns 35,000 shares in the company, valued at approximately $1,441,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director A Scott Anderson sold 25,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $41.15, for a total value of $1,028,750.00. Following the completion of the sale, the director now owns 10,400 shares in the company, valued at approximately $427,960. The disclosure for this sale can be found here. Insiders sold a total of 147,450 shares of company stock worth $5,607,192 in the last quarter. Company insiders own 5.00% of the company’s stock.
About Merit Medical Systems
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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