Eagle Asset Management Inc. increased its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 209.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,874,146 shares of the medical instruments supplier’s stock after purchasing an additional 1,268,635 shares during the period. Eagle Asset Management Inc. owned 3.73% of Merit Medical Systems worth $81,018,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in MMSI. Ameritas Investment Partners Inc. increased its position in shares of Merit Medical Systems by 20.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,272 shares of the medical instruments supplier’s stock valued at $163,000 after purchasing an additional 738 shares during the period. SG Americas Securities LLC acquired a new position in shares of Merit Medical Systems during the 3rd quarter valued at $189,000. Wolverine Trading LLC acquired a new position in shares of Merit Medical Systems during the 3rd quarter valued at $226,000. Asset Management One Co. Ltd. acquired a new position in shares of Merit Medical Systems during the 3rd quarter valued at $230,000. Finally, Hanseatic Management Services Inc. acquired a new position in shares of Merit Medical Systems during the 3rd quarter valued at $233,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Franklin J. Miller sold 10,000 shares of Merit Medical Systems stock in a transaction on Friday, December 29th. The stock was sold at an average price of $43.93, for a total transaction of $439,300.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kent W. Stanger sold 9,082 shares of Merit Medical Systems stock in a transaction on Friday, December 15th. The shares were sold at an average price of $44.90, for a total value of $407,781.80. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock worth $1,416,379 over the last 90 days. Insiders own 5.00% of the company’s stock.
Merit Medical Systems, Inc. (NASDAQ MMSI) opened at $44.90 on Friday. The company has a quick ratio of 1.43, a current ratio of 2.78 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $2,176.12, a price-to-earnings ratio of 73.61, a P/E/G ratio of 2.54 and a beta of 1.29. Merit Medical Systems, Inc. has a 1-year low of $27.65 and a 1-year high of $48.10.
Several equities analysts have recently issued reports on MMSI shares. Zacks Investment Research upgraded Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Saturday, October 28th. Canaccord Genuity lifted their price target on Merit Medical Systems from $45.00 to $47.50 and gave the company a “buy” rating in a research report on Thursday, October 26th. Wells Fargo & Co reiterated an “outperform” rating and set a $51.00 price target (up from $46.00) on shares of Merit Medical Systems in a research report on Thursday, November 30th. ValuEngine upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st. Finally, SunTrust Banks set a $47.00 target price on Merit Medical Systems and gave the stock a “buy” rating in a report on Thursday, November 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. Merit Medical Systems presently has an average rating of “Buy” and a consensus target price of $43.77.
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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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