Koch Industries Inc. acquired a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,557 shares of the medical instruments supplier’s stock, valued at approximately $388,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of MMSI. Virtus Fund Advisers LLC bought a new stake in shares of Merit Medical Systems during the 4th quarter worth $160,000. We Are One Seven LLC purchased a new position in Merit Medical Systems in the 4th quarter worth $170,000. Van Hulzen Asset Management LLC purchased a new position in Merit Medical Systems in the 1st quarter worth $200,000. BTC Capital Management Inc. purchased a new position in Merit Medical Systems in the 1st quarter worth $206,000. Finally, Envestnet Asset Management Inc. raised its position in Merit Medical Systems by 1,336.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,842 shares of the medical instruments supplier’s stock worth $221,000 after purchasing an additional 4,505 shares during the period. 92.27% of the stock is owned by institutional investors.
In related news, insider Joseph Wright sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the transaction, the insider now owns 9,928 shares in the company, valued at $491,535.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Justin J. Lampropoulos sold 14,000 shares of the business’s stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $51.31, for a total transaction of $718,340.00. Following the sale, the executive vice president now directly owns 14,000 shares in the company, valued at approximately $718,340. The disclosure for this sale can be found here. Insiders have sold 46,050 shares of company stock worth $2,317,065 in the last quarter. 5.00% of the stock is owned by corporate insiders.
Shares of Merit Medical Systems traded up $0.15, reaching $50.10, during mid-day trading on Friday, Marketbeat reports. The stock had a trading volume of 1,396 shares, compared to its average volume of 420,486. Merit Medical Systems, Inc. has a 52-week low of $36.21 and a 52-week high of $55.50. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 2.39 and a beta of 1.34. 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 (NASDAQ:MMSI) last released its quarterly earnings data on Wednesday, April 25th. The medical instruments supplier reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Merit Medical Systems had a net margin of 2.37% and a return on equity of 10.01%. The firm had revenue of $203.04 million for the quarter, compared to analysts’ expectations of $192.60 million. During the same quarter in the previous year, the company earned $0.28 earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. equities analysts predict that Merit Medical Systems, Inc. will post 1.64 EPS for the current year.
MMSI has been the topic of a number of analyst reports. BidaskClub cut shares of Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 7th. Needham & Company LLC lifted their target price 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. SunTrust Banks lifted their target price 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, May 18th. Barrington Research upgraded shares of Merit Medical Systems from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Thursday, March 1st. Finally, Zacks Investment Research upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Saturday, March 3rd. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $51.00.
Merit Medical Systems 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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