Merit Medical Systems, Inc. (MMSI) Stake Decreased by Los Angeles Capital Management & Equity Research Inc.

Los Angeles Capital Management & Equity Research Inc. decreased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 17,963 shares of the medical instruments supplier’s stock after selling 380 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Merit Medical Systems were worth $1,111,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at approximately $36,000. Financial Gravity Companies Inc. acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at approximately $43,000. Advisory Services Network LLC increased its holdings in shares of Merit Medical Systems by 1,051.1% in the fourth quarter. Advisory Services Network LLC now owns 2,141 shares of the medical instruments supplier’s stock valued at $120,000 after purchasing an additional 1,955 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Merit Medical Systems by 8.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,802 shares of the medical instruments supplier’s stock valued at $212,000 after purchasing an additional 303 shares in the last quarter. Finally, Brinker Capital Inc. acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at approximately $221,000. 96.58% of the stock is owned by institutional investors.

In other Merit Medical Systems news, Director Kent W. Stanger sold 1,216 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $60.54, for a total value of $73,616.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Raul Jr. Parra sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $60.20, for a total transaction of $301,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,000 shares in the company, valued at $60,200. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,216 shares of company stock worth $2,579,837. Insiders own 4.75% of the company’s stock.

MMSI has been the subject of a number of research reports. Zacks Investment Research lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Tuesday, February 26th. BidaskClub lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Needham & Company LLC reissued a “buy” rating on shares of Merit Medical Systems in a report on Thursday, April 25th. Finally, ValuEngine lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. Merit Medical Systems presently has a consensus rating of “Buy” and an average target price of $67.80.

Shares of MMSI stock opened at $57.48 on Friday. Merit Medical Systems, Inc. has a 52-week low of $47.30 and a 52-week high of $66.34. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 34.01, a price-to-earnings-growth ratio of 2.48 and a beta of 1.03. The company has a current ratio of 2.36, a quick ratio of 1.25 and a debt-to-equity ratio of 0.39.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Tuesday, April 23rd. The medical instruments supplier reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Merit Medical Systems had a net margin of 4.68% and a return on equity of 10.99%. The firm had revenue of $238.35 million for the quarter, compared to analysts’ expectations of $236.53 million. During the same period last year, the firm earned $0.31 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, equities analysts anticipate that Merit Medical Systems, Inc. will post 2.01 earnings per share for the current year.

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Merit Medical Systems Profile

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 through Cardiovascular and Endoscopy segments. It provides peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.

Read More: Intrinsic Value and Stock Selection

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

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