Massachusetts Financial Services Co. MA Sells 62,000 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Massachusetts Financial Services Co. MA cut its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 10.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 553,096 shares of the medical instruments supplier’s stock after selling 62,000 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Merit Medical Systems were worth $33,119,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Merit Medical Systems by 3.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 6,458 shares of the medical instruments supplier’s stock valued at $358,000 after purchasing an additional 191 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Merit Medical Systems by 1.9% during the 1st quarter. Crossmark Global Holdings Inc. now owns 11,182 shares of the medical instruments supplier’s stock valued at $670,000 after purchasing an additional 210 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Merit Medical Systems by 2.0% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 20,098 shares of the medical instruments supplier’s stock valued at $1,203,000 after purchasing an additional 400 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Merit Medical Systems by 5.5% during the 4th quarter. Truist Financial Corp now owns 9,803 shares of the medical instruments supplier’s stock valued at $544,000 after purchasing an additional 510 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Merit Medical Systems by 5.6% during the 4th quarter. LPL Financial LLC now owns 9,635 shares of the medical instruments supplier’s stock valued at $535,000 after purchasing an additional 512 shares during the last quarter. 96.06% of the stock is currently owned by institutional investors.

NASDAQ:MMSI opened at $63.36 on Friday. The company has a fifty day moving average price of $61.82. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 2.11. Merit Medical Systems, Inc. has a 52 week low of $39.44 and a 52 week high of $65.46. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 905.27, a P/E/G ratio of 2.48 and a beta of 1.27.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, April 29th. The medical instruments supplier reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.15. Merit Medical Systems had a net margin of 0.44% and a return on equity of 10.74%. The company had revenue of $248.91 million for the quarter, compared to analyst estimates of $231.06 million. As a group, equities analysts expect that Merit Medical Systems, Inc. will post 1.93 EPS for the current year.

In related news, Director A Scott Anderson sold 23,779 shares of the business’s stock in a transaction on Monday, May 17th. The shares were sold at an average price of $59.19, for a total transaction of $1,407,479.01. Following the transaction, the director now owns 33,762 shares in the company, valued at approximately $1,998,372.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ronald Frost sold 11,887 shares of the business’s stock in a transaction on Tuesday, June 15th. The shares were sold at an average price of $61.82, for a total transaction of $734,854.34. Following the transaction, the chief operating officer now owns 22,343 shares in the company, valued at approximately $1,381,244.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,666 shares of company stock worth $3,717,133. Insiders own 3.70% of the company’s stock.

A number of research firms have weighed in on MMSI. Needham & Company LLC boosted their target price on shares of Merit Medical Systems from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, April 30th. Barrington Research boosted their target price on shares of Merit Medical Systems from $63.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, April 30th. Canaccord Genuity boosted their target price on shares of Merit Medical Systems from $55.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, February 26th. Finally, Raymond James boosted their target price on shares of Merit Medical Systems from $61.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, April 30th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $66.11.

About Merit Medical Systems

Merit Medical Systems, Inc manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates in two segments, Cardiovascular and Endoscopy. It provides peripheral intervention products for the diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, fluid management, electrophysiology and cardiac rhythm management, and hemodynamic monitoring to treat various heart conditions.

Further Reading: Equal Weight Rating

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

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