Sei Investments Co. Purchases 18,568 Shares of Merit Medical Systems, Inc. (MMSI)

Sei Investments Co. boosted its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 11.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,614 shares of the medical instruments supplier’s stock after buying an additional 18,568 shares during the period. Sei Investments Co.’s holdings in Merit Medical Systems were worth $7,043,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Merit Medical Systems during the fourth quarter worth $7,773,000. Teachers Advisors LLC increased its stake in Merit Medical Systems by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 557,413 shares of the medical instruments supplier’s stock worth $14,771,000 after buying an additional 3,839 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Merit Medical Systems by 11.7% in the first quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the medical instruments supplier’s stock worth $578,000 after buying an additional 2,100 shares during the last quarter. Perkins Capital Management Inc. increased its stake in Merit Medical Systems by 188.6% in the first quarter. Perkins Capital Management Inc. now owns 30,300 shares of the medical instruments supplier’s stock worth $876,000 after buying an additional 19,800 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Merit Medical Systems by 13.1% in the first quarter. State of Alaska Department of Revenue now owns 5,430 shares of the medical instruments supplier’s stock worth $156,000 after buying an additional 630 shares during the last quarter. Institutional investors own 91.64% of the company’s stock.

Merit Medical Systems, Inc. (NASDAQ:MMSI) opened at 40.40 on Tuesday. The firm has a 50-day moving average price of $39.11 and a 200-day moving average price of $33.21. Merit Medical Systems, Inc. has a 52 week low of $20.70 and a 52 week high of $42.60. The stock has a market capitalization of $2.03 billion, a PE ratio of 57.55 and a beta of 1.26.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. The business had revenue of $186.50 million during the quarter, compared to analyst estimates of $181.46 million. Merit Medical Systems had a return on equity of 9.78% and a net margin of 4.87%. The company’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period last year, the company earned $0.26 EPS. Equities research analysts predict that Merit Medical Systems, Inc. will post $1.26 EPS for the current fiscal year.

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MMSI has been the subject of a number of recent research reports. Craig Hallum initiated coverage on Merit Medical Systems in a research report on Monday, April 17th. They issued a “buy” rating and a $36.00 target price for the company. Zacks Investment Research downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Canaccord Genuity reaffirmed a “buy” rating and issued a $37.00 price target on shares of Merit Medical Systems in a research note on Friday, April 28th. Sidoti reaffirmed a “buy” rating and issued a $41.00 price target (up from $35.00) on shares of Merit Medical Systems in a research note on Saturday, April 29th. Finally, SunTrust Banks, Inc. initiated coverage on Merit Medical Systems in a research note on Tuesday, June 20th. They issued a “buy” rating and a $43.00 price target on the stock. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $39.74.

In other news, insider Richard W. Edelman sold 29,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $41.19, for a total value of $1,194,510.00. Following the completion of the sale, the insider now directly owns 35,000 shares of the company’s stock, valued at approximately $1,441,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director A Scott Anderson sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $41.15, for a total value of $1,028,750.00. Following the completion of the sale, the director now directly owns 10,400 shares of the company’s stock, valued at $427,960. The disclosure for this sale can be found here. Insiders sold a total of 131,360 shares of company stock valued at $5,060,937 over the last ninety days. Corporate insiders own 5.00% of the company’s stock.

Merit Medical Systems Company Profile

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

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