Kornitzer Capital Management Inc. KS Boosts Stake in Merit Medical Systems, Inc. (MMSI)

Kornitzer Capital Management Inc. KS lifted its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 396.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 188,700 shares of the medical instruments supplier’s stock after purchasing an additional 150,713 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Merit Medical Systems were worth $11,596,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MMSI. Piedmont Investment Advisors Inc. increased its position in Merit Medical Systems by 7.4% during the third quarter. Piedmont Investment Advisors Inc. now owns 12,588 shares of the medical instruments supplier’s stock worth $774,000 after purchasing an additional 863 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Merit Medical Systems by 6.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 15,891 shares of the medical instruments supplier’s stock worth $814,000 after purchasing an additional 956 shares during the last quarter. Piedmont Investment Advisors LLC increased its position in Merit Medical Systems by 9.1% during the second quarter. Piedmont Investment Advisors LLC now owns 11,725 shares of the medical instruments supplier’s stock worth $600,000 after purchasing an additional 981 shares during the last quarter. Amalgamated Bank increased its position in Merit Medical Systems by 14.4% during the second quarter. Amalgamated Bank now owns 8,025 shares of the medical instruments supplier’s stock worth $411,000 after purchasing an additional 1,010 shares during the last quarter. Finally, United Services Automobile Association increased its position in Merit Medical Systems by 11.1% during the second quarter. United Services Automobile Association now owns 11,087 shares of the medical instruments supplier’s stock worth $568,000 after purchasing an additional 1,108 shares during the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

In other Merit Medical Systems news, EVP Justin J. Lampropoulos sold 20,000 shares of Merit Medical Systems stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $61.01, for a total transaction of $1,220,200.00. Following the completion of the sale, the executive vice president now directly owns 20,000 shares in the company, valued at $1,220,200. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director F. Ann Millner sold 9,593 shares of Merit Medical Systems stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $56.92, for a total transaction of $546,033.56. Following the sale, the director now owns 7,891 shares of the company’s stock, valued at $449,155.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,593 shares of company stock valued at $2,379,286. Company insiders own 5.16% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Merit Medical Systems from a “sell” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Monday, October 29th. Canaccord Genuity raised their price objective on shares of Merit Medical Systems from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, October 26th. ValuEngine upgraded shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 24th. Sidoti set a $79.00 price objective on shares of Merit Medical Systems and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Finally, Piper Jaffray Companies raised their price objective on shares of Merit Medical Systems from $58.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $68.10.

Shares of MMSI opened at $63.05 on Monday. Merit Medical Systems, Inc. has a 1-year low of $41.25 and a 1-year high of $66.34. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 49.26, a P/E/G ratio of 2.90 and a beta of 1.22. The company has a quick ratio of 1.47, a current ratio of 2.77 and a debt-to-equity ratio of 0.20.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, October 25th. The medical instruments supplier reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. Merit Medical Systems had a net margin of 4.72% and a return on equity of 10.86%. The business had revenue of $221.66 million during the quarter, compared to analysts’ expectations of $217.62 million. As a group, equities research analysts predict that Merit Medical Systems, Inc. will post 1.67 earnings per share for the current fiscal year.

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About Merit Medical Systems

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

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