Dynamic Technology Lab Private Ltd Invests $300,000 in Merit Medical Systems, Inc. (MMSI)

Dynamic Technology Lab Private Ltd bought a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,861 shares of the medical instruments supplier’s stock, valued at approximately $300,000.

Several other hedge funds have also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan boosted its stake in shares of Merit Medical Systems by 1.6% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 13,170 shares of the medical instruments supplier’s stock worth $380,000 after acquiring an additional 210 shares in the last quarter. LS Investment Advisors LLC boosted its stake in shares of Merit Medical Systems by 8.1% during the 2nd quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock worth $141,000 after acquiring an additional 277 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Merit Medical Systems by 1.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 20,300 shares of the medical instruments supplier’s stock worth $774,000 after acquiring an additional 300 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Merit Medical Systems by 3.9% during the 2nd quarter. Aperio Group LLC now owns 10,467 shares of the medical instruments supplier’s stock worth $399,000 after acquiring an additional 391 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its stake in shares of Merit Medical Systems by 5.6% during the 2nd quarter. Suntrust Banks Inc. now owns 7,847 shares of the medical instruments supplier’s stock worth $299,000 after acquiring an additional 414 shares in the last quarter. 90.40% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently issued reports on MMSI. Canaccord Genuity reissued a “buy” rating and set a $45.00 target price on shares of Merit Medical Systems in a research note on Sunday, October 8th. Zacks Investment Research lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Piper Jaffray Companies reissued a “buy” rating and set a $45.00 target price on shares of Merit Medical Systems in a research note on Friday, July 28th. Raymond James Financial, Inc. reissued an “outperform” rating and set a $44.00 target price on shares of Merit Medical Systems in a research note on Monday, August 28th. Finally, Citigroup Inc. lowered shares of Merit Medical Systems from a “strong-buy” rating to an “outperform” rating and set a $44.00 target price on the stock. in a research note on Monday, August 28th. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $41.65.

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In other Merit Medical Systems news, Director F. Ann Millner sold 3,106 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $41.01, for a total value of $127,377.06. Following the sale, the director now owns 6,750 shares of the company’s stock, valued at $276,817.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director A Scott Anderson sold 25,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $41.15, for a total transaction of $1,028,750.00. Following the completion of the sale, the director now directly owns 10,400 shares in the company, valued at approximately $427,960. The disclosure for this sale can be found here. Insiders sold 67,106 shares of company stock worth $2,772,344 in the last ninety days. Insiders own 5.00% of the company’s stock.

Merit Medical Systems, Inc. (NASDAQ:MMSI) opened at 37.00 on Monday. The company’s 50 day moving average is $42.12 and its 200 day moving average is $38.05. The firm has a market cap of $1.85 billion, a P/E ratio of 52.71 and a beta of 1.25. Merit Medical Systems, Inc. has a 52-week low of $20.70 and a 52-week high of $45.50.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. Merit Medical Systems had a net margin of 4.06% and a return on equity of 9.86%. The company had revenue of $179.30 million for the quarter, compared to the consensus estimate of $181.28 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. Equities research analysts forecast that Merit Medical Systems, Inc. will post $1.27 EPS for the current fiscal year.

Merit Medical Systems 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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