Signature Financial Management Inc. Purchases New Position in Merit Medical Systems, Inc. (MMSI)

Signature Financial Management Inc. purchased a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,806 shares of the medical instruments supplier’s stock, valued at approximately $354,000.

A number of other large investors also recently made changes to their positions in MMSI. Eagle Asset Management Inc. raised its stake in Merit Medical Systems by 209.5% during the 4th quarter. Eagle Asset Management Inc. now owns 1,874,146 shares of the medical instruments supplier’s stock worth $81,018,000 after acquiring an additional 1,268,635 shares in the last quarter. Carillon Tower Advisers Inc. purchased a new position in Merit Medical Systems during the 4th quarter worth $13,788,000. Rockefeller Capital Management L.P. purchased a new position in Merit Medical Systems during the 1st quarter worth $35,317,000. Perceptive Advisors LLC grew its position in Merit Medical Systems by 774.0% during the 4th quarter. Perceptive Advisors LLC now owns 874,013 shares of the medical instruments supplier’s stock worth $37,757,000 after purchasing an additional 774,013 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its position in Merit Medical Systems by 2,548.7% during the 4th quarter. OppenheimerFunds Inc. now owns 313,866 shares of the medical instruments supplier’s stock worth $13,559,000 after purchasing an additional 302,016 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Several brokerages have issued reports on MMSI. Zacks Investment Research downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. SunTrust Banks raised their price objective on shares of Merit Medical Systems from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday. BidaskClub raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, May 1st. Needham & Company LLC raised their price objective on shares of Merit Medical Systems from $53.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, April 26th. Finally, Raymond James raised their price objective on shares of Merit Medical Systems from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, April 26th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $50.42.

Shares of NASDAQ:MMSI opened at $54.05 on Tuesday. The stock has a market capitalization of $2.71 billion, a PE ratio of 42.23, a PEG ratio of 2.53 and a beta of 1.33. The company has a current ratio of 2.76, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. Merit Medical Systems, Inc. has a fifty-two week low of $33.30 and a fifty-two week high of $54.60.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Wednesday, April 25th. The medical instruments supplier reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02. The business had revenue of $203.04 million for the quarter, compared to the consensus estimate of $192.60 million. Merit Medical Systems had a net margin of 2.37% and a return on equity of 10.01%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. equities analysts predict that Merit Medical Systems, Inc. will post 1.64 earnings per share for the current fiscal year.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets various disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.

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Institutional Ownership by Quarter for Merit Medical Systems (NASDAQ:MMSI)

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