AMP Capital Investors Ltd trimmed its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 34.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,085 shares of the medical instruments supplier’s stock after selling 3,700 shares during the period. AMP Capital Investors Ltd’s holdings in Merit Medical Systems were worth $363,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Mount Yale Investment Advisors LLC acquired a new stake in shares of Merit Medical Systems in the first quarter worth $156,000. Campbell & CO Investment Adviser LLC acquired a new position in Merit Medical Systems during the 2nd quarter valued at $206,000. Intrust Bank NA acquired a new position in Merit Medical Systems during the 2nd quarter valued at $211,000. Envestnet Asset Management Inc. raised its stake in Merit Medical Systems by 1,336.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,842 shares of the medical instruments supplier’s stock valued at $221,000 after purchasing an additional 4,505 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Merit Medical Systems during the 1st quarter valued at $237,000. 86.96% of the stock is owned by institutional investors.
MMSI has been the subject of several research analyst reports. Canaccord Genuity upped their target price on shares of Merit Medical Systems from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. BidaskClub upgraded shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 27th. Needham & Company LLC reiterated a “buy” rating and set a $54.00 target price on shares of Merit Medical Systems in a research note on Friday, June 1st. Raymond James upped their target price on shares of Merit Medical Systems from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, July 24th. Finally, Wells Fargo & Co upped their target price on shares of Merit Medical Systems from $53.00 to $58.00 and gave the company an “outperform” rating in a research note on Monday, June 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Merit Medical Systems has an average rating of “Buy” and an average price target of $63.25.
Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Monday, July 23rd. The medical instruments supplier reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The firm had revenue of $224.81 million during the quarter, compared to analysts’ expectations of $214.64 million. Merit Medical Systems had a net margin of 2.44% and a return on equity of 10.48%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 EPS. analysts forecast that Merit Medical Systems, Inc. will post 1.64 earnings per share for the current fiscal year.
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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