Moody Aldrich Partners LLC Purchases 3,416 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Moody Aldrich Partners LLC increased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 128,218 shares of the medical instruments supplier’s stock after buying an additional 3,416 shares during the quarter. Merit Medical Systems comprises about 2.0% of Moody Aldrich Partners LLC’s portfolio, making the stock its 8th biggest position. Moody Aldrich Partners LLC owned approximately 0.23% of Merit Medical Systems worth $7,637,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Merit Medical Systems by 0.8% in the first quarter. BlackRock Inc. now owns 8,065,358 shares of the medical instruments supplier’s stock worth $498,680,000 after purchasing an additional 67,007 shares during the last quarter. FMR LLC raised its stake in shares of Merit Medical Systems by 6.1% in the first quarter. FMR LLC now owns 1,735,494 shares of the medical instruments supplier’s stock worth $107,306,000 after purchasing an additional 99,015 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Merit Medical Systems by 34.9% in the first quarter. Frontier Capital Management Co. LLC now owns 1,019,118 shares of the medical instruments supplier’s stock worth $63,012,000 after purchasing an additional 263,386 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Merit Medical Systems by 29.3% in the first quarter. Jennison Associates LLC now owns 784,955 shares of the medical instruments supplier’s stock worth $48,534,000 after purchasing an additional 177,811 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Merit Medical Systems by 2.4% in the first quarter. Wells Fargo & Company MN now owns 700,827 shares of the medical instruments supplier’s stock worth $43,332,000 after purchasing an additional 16,745 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

In other Merit Medical Systems news, EVP Justin J. Lampropoulos sold 8,000 shares of the stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $60.87, for a total transaction of $486,960.00. Following the completion of the transaction, the executive vice president now directly owns 8,000 shares of the company’s stock, valued at $486,960. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael E. Stillabower sold 40,750 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $40.05, for a total value of $1,632,037.50. Following the transaction, the director now directly owns 78,618 shares of the company’s stock, valued at $3,148,650.90. The disclosure for this sale can be found here. Insiders have sold 52,750 shares of company stock valued at $2,362,638 over the last ninety days. 4.75% of the stock is currently owned by company insiders.

Several analysts have recently commented on the company. BidaskClub downgraded Merit Medical Systems from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 23rd. Wells Fargo & Co downgraded Merit Medical Systems from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $71.00 to $46.00 in a research note on Friday, July 26th. Sidoti set a $74.00 price objective on Merit Medical Systems and gave the stock a “buy” rating in a research note on Friday, July 26th. Canaccord Genuity lowered their price objective on Merit Medical Systems from $63.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Finally, Piper Jaffray Companies set a $58.00 price objective on Merit Medical Systems and gave the stock an “overweight” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $62.00.

Shares of MMSI opened at $38.65 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 2.42 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $2.24 billion, a P/E ratio of 22.87, a price-to-earnings-growth ratio of 1.96 and a beta of 1.03. The firm’s 50 day simple moving average is $53.65. Merit Medical Systems, Inc. has a 12 month low of $38.43 and a 12 month high of $66.34.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.08). The business had revenue of $255.50 million for the quarter, compared to analysts’ expectations of $258.58 million. Merit Medical Systems had a net margin of 4.10% and a return on equity of 10.40%. The business’s revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.43 earnings per share. Sell-side analysts anticipate that Merit Medical Systems, Inc. will post 1.79 EPS for the current year.

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.

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

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