The Merit Medical Systems, Inc. (MMSI) Stake Boosted by Arizona State Retirement System

July 16th, 20176:20 am @

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Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new position in shares of Merit Medical Systems during the fourth quarter worth $503,000. Comerica Bank raised its position in shares of Merit Medical Systems by 5.4% in the fourth quarter. Comerica Bank now owns 48,397 shares of the medical instruments supplier’s stock worth $1,292,000 after buying an additional 2,500 shares in the last quarter. State Street Corp raised its position in shares of Merit Medical Systems by 6.8% in the fourth quarter. State Street Corp now owns 1,197,903 shares of the medical instruments supplier’s stock worth $31,749,000 after buying an additional 76,795 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Merit Medical Systems during the fourth quarter worth $785,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Merit Medical Systems by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,695,522 shares of the medical instruments supplier’s stock worth $71,431,000 after buying an additional 80,045 shares in the last quarter. 90.48% of the stock is currently owned by institutional investors and hedge funds.

Arizona State Retirement System boosted its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,244 shares of the medical instruments supplier’s stock after buying an additional 300 shares during the period. Arizona State Retirement System owned approximately 0.05% of Merit Medical Systems worth $672,000 at the end of the most recent reporting period.

Merit Medical Systems, Inc. (NASDAQ:MMSI) opened at 37.90 on Friday. Merit Medical Systems, Inc. has a 12 month low of $19.61 and a 12 month high of $38.55. The firm’s 50-day moving average price is $35.41 and its 200-day moving average price is $30.22. The stock has a market cap of $1.89 billion, a P/E ratio of 56.32 and a beta of 1.25. Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Thursday, April 27th. The medical instruments supplier reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.05. Merit Medical Systems had a return on equity of 9.36% and a net margin of 4.80%. The company had revenue of $171.07 million for the quarter, compared to analysts’ expectations of $163.50 million. During the same quarter in the previous year, the firm posted $0.19 EPS. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. On average, analysts predict that Merit Medical Systems, Inc. will post $1.17 earnings per share for the current year.

Merit Medical Systems, Inc. (NASDAQ:MMSI) opened at 37.90 on Friday. Merit Medical Systems, Inc. has a 12 month low of $19.61 and a 12 month high of $38.55. The firm’s 50-day moving average price is $35.41 and its 200-day moving average price is $30.22. The stock has a market cap of $1.89 billion, a P/E ratio of 56.32 and a beta of 1.25. MMSI has been the topic of a number of research reports. Canaccord Genuity reissued a “buy” rating and issued a $33.50 price objective (down from $35.00) on shares of Merit Medical Systems in a report on Monday, March 27th. Piper Jaffray Companies reissued an “overweight” rating on shares of Merit Medical Systems in a report on Wednesday, March 29th. Wells Fargo Company began coverage on Merit Medical Systems in a report on Wednesday, April 5th. They set an “outperform” rating and a $31.70 target price on the stock. Keefe, Bruyette Woods reaffirmed a “hold” rating and set a $20.00 target price on shares of Merit Medical Systems in a report on Thursday, April 6th. Finally, Craig Hallum began coverage on Merit Medical Systems in a report on Monday, April 17th. They set a “buy” rating and a $36.00 target price on the stock. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Merit Medical Systems currently has an average rating of “Buy” and a consensus price target of $36.71.

In related news, Director Franklin J. Miller sold 16,090 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $33.95, for a total value of $546,255.50. Following the sale, the director now owns 27,334 shares in the company, valued at approximately $927,989.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director F. Ann Millner sold 6,744 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $38.15, for a total value of $257,283.60. Following the completion of the sale, the director now owns 4,247 shares in the company, valued at approximately $162,023.05. The disclosure for this sale can be found here. Insiders have sold a total of 82,944 shares of company stock worth $2,944,127 in the last quarter. 5.60% of the stock is currently owned by 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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