Trexquant Investment LP trimmed its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 51.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,844 shares of the medical instruments supplier’s stock after selling 7,256 shares during the quarter. Trexquant Investment LP’s holdings in Merit Medical Systems were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. LS Investment Advisors LLC increased its position in Merit Medical Systems by 8.1% during the second 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 during the period. Advisors Asset Management Inc. increased its position in Merit Medical Systems by 28.2% during the second quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock worth $142,000 after acquiring an additional 820 shares during the period. Ameritas Investment Partners Inc. increased its position in Merit Medical Systems by 20.9% during the second quarter. Ameritas Investment Partners Inc. now owns 4,272 shares of the medical instruments supplier’s stock worth $163,000 after acquiring an additional 738 shares during the period. SG Americas Securities LLC bought a new position in Merit Medical Systems during the third quarter worth $189,000. Finally, Riverhead Capital Management LLC increased its position in Merit Medical Systems by 67.7% during the second quarter. Riverhead Capital Management LLC now owns 5,198 shares of the medical instruments supplier’s stock worth $198,000 after acquiring an additional 2,098 shares during the period. Institutional investors and hedge funds own 90.89% of the company’s stock.
A number of equities analysts recently issued reports on MMSI shares. Canaccord Genuity reaffirmed a “buy” rating and set a $45.00 target price on shares of Merit Medical Systems in a research report on Wednesday, September 6th. ValuEngine raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st. SunTrust Banks set a $47.00 target price on shares of Merit Medical Systems and gave the stock a “buy” rating in a research report on Thursday, November 16th. Zacks Investment Research raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Saturday, October 28th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $44.00 target price on shares of Merit Medical Systems in a research report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. Merit Medical Systems presently has a consensus rating of “Buy” and a consensus price target of $43.77.
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 Thomson Reuters’ consensus estimate of $0.30 by $0.02. The firm had revenue of $179.30 million for the quarter, compared to analyst estimates of $181.28 million. Merit Medical Systems had a net margin of 4.06% and a return on equity of 9.86%. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 EPS. equities research analysts forecast that Merit Medical Systems, Inc. will post 1.27 earnings per share for the current fiscal year.
In other Merit Medical Systems news, Director Kent W. Stanger sold 670 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $42.06, for a total value of $28,180.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 5,518 shares of company stock worth $239,276 in the last three months. Insiders own 5.00% of the company’s stock.
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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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