Comerica Bank Boosts Position in Merit Medical Systems, Inc. (MMSI)

Comerica Bank increased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,425 shares of the medical instruments supplier’s stock after acquiring an additional 1,136 shares during the period. Comerica Bank’s holdings in Merit Medical Systems were worth $3,446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in shares of Merit Medical Systems by 0.7% in the 1st quarter. Rhumbline Advisers now owns 154,092 shares of the medical instruments supplier’s stock valued at $9,528,000 after buying an additional 1,033 shares during the period. Arizona State Retirement System lifted its holdings in shares of Merit Medical Systems by 0.3% in the 1st quarter. Arizona State Retirement System now owns 84,695 shares of the medical instruments supplier’s stock valued at $5,237,000 after buying an additional 251 shares during the period. AMI Asset Management Corp lifted its holdings in shares of Merit Medical Systems by 1.0% in the 1st quarter. AMI Asset Management Corp now owns 250,432 shares of the medical instruments supplier’s stock valued at $15,484,000 after buying an additional 2,518 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Merit Medical Systems by 658.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 12,383 shares of the medical instruments supplier’s stock valued at $766,000 after buying an additional 10,751 shares during the period. Finally, Pier Capital LLC lifted its holdings in shares of Merit Medical Systems by 55.3% in the 1st quarter. Pier Capital LLC now owns 116,427 shares of the medical instruments supplier’s stock valued at $7,199,000 after buying an additional 41,481 shares during the period. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MMSI stock opened at $54.89 on Monday. The firm has a market cap of $3.02 billion, a P/E ratio of 32.48, a PEG ratio of 2.34 and a beta of 1.03. Merit Medical Systems, Inc. has a 1 year low of $47.30 and a 1 year high of $66.34. The company has a quick ratio of 1.25, a current ratio of 2.36 and a debt-to-equity ratio of 0.39.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Tuesday, April 23rd. The medical instruments supplier reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $238.35 million during the quarter, compared to analysts’ expectations of $236.53 million. Merit Medical Systems had a return on equity of 10.99% and a net margin of 4.68%. Merit Medical Systems’s revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share. As a group, research analysts predict that Merit Medical Systems, Inc. will post 2.02 earnings per share for the current year.

Several analysts have recently commented on the company. ValuEngine cut Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Zacks Investment Research raised Merit Medical Systems from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Tuesday, April 30th. BidaskClub raised Merit Medical Systems from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Merit Medical Systems 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 given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $67.80.

In other Merit Medical Systems news, Director Michael E. Stillabower sold 10,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $58.05, for a total transaction of $580,500.00. Following the completion of the transaction, the director now owns 63,618 shares of the company’s stock, valued at $3,693,024.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Raul Jr. Parra sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $60.20, for a total value of $301,000.00. Following the transaction, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $60,200. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,216 shares of company stock valued at $2,579,837. 4.75% of the stock is currently owned by insiders.

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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 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.

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

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