UBS Asset Management Americas Inc. grew its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 58,822 shares of the medical instruments supplier’s stock after purchasing an additional 1,467 shares during the quarter. UBS Asset Management Americas Inc. owned 0.12% of Merit Medical Systems worth $2,541,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of MMSI. 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 in the 3rd quarter worth $226,000. Asset Management One Co. Ltd. acquired a new position in shares of Merit Medical Systems in the 3rd quarter worth $230,000. Hanseatic Management Services Inc. acquired a new position in shares of Merit Medical Systems in the 3rd quarter worth $233,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of Merit Medical Systems in the 3rd quarter worth $238,000. Institutional investors own 95.45% of the company’s stock.
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. Following the transaction, the director now owns 21,244 shares in the company, valued at $933,248.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.00% of the company’s stock.
Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Merit Medical Systems had a return on equity of 9.65% and a net margin of 3.78%. The business had revenue of $190.90 million for the quarter, compared to the consensus estimate of $187.62 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. Merit Medical Systems’s revenue for the quarter was up 21.0% compared to the same quarter last year. analysts expect that Merit Medical Systems, Inc. will post 1.64 EPS for the current fiscal year.
A number of brokerages recently issued reports on MMSI. SunTrust Banks lifted their target price on Merit Medical Systems from $1.64 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, March 7th. Zacks Investment Research upgraded Merit Medical Systems from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Saturday, March 3rd. Canaccord Genuity lifted their target price on Merit Medical Systems from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, March 1st. Barrington Research upgraded Merit Medical Systems from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Thursday, March 1st. Finally, BidaskClub upgraded Merit Medical Systems from a “sell” rating to a “hold” rating in a report on Saturday, February 17th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $46.42.
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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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