Russell Investments Group Ltd. Trims Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Russell Investments Group Ltd. lessened its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 18.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,906 shares of the medical instruments supplier’s stock after selling 3,102 shares during the quarter. Russell Investments Group Ltd.’s holdings in Merit Medical Systems were worth $897,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Loomis Sayles & Co. L P purchased a new position in shares of Merit Medical Systems during the first quarter worth about $45,471,000. Westwood Holdings Group Inc. grew its holdings in shares of Merit Medical Systems by 29.7% during the first quarter. Westwood Holdings Group Inc. now owns 999,262 shares of the medical instruments supplier’s stock worth $59,836,000 after purchasing an additional 228,707 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Merit Medical Systems by 2.8% during the first quarter. BlackRock Inc. now owns 7,822,133 shares of the medical instruments supplier’s stock worth $468,389,000 after purchasing an additional 212,022 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in shares of Merit Medical Systems by 101.7% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 385,489 shares of the medical instruments supplier’s stock worth $24,926,000 after purchasing an additional 194,407 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of Merit Medical Systems by 2.6% during the first quarter. William Blair Investment Management LLC now owns 3,476,929 shares of the medical instruments supplier’s stock worth $208,199,000 after purchasing an additional 89,564 shares in the last quarter. 94.47% of the stock is owned by institutional investors and hedge funds.

Shares of MMSI stock opened at $71.57 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.21 and a current ratio of 2.14. Merit Medical Systems, Inc. has a fifty-two week low of $39.44 and a fifty-two week high of $73.85. The stock has a 50 day moving average price of $67.84 and a two-hundred day moving average price of $63.50. The company has a market capitalization of $4.03 billion, a P/E ratio of 143.14, a PEG ratio of 2.47 and a beta of 1.25.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Thursday, July 29th. The medical instruments supplier reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.18. Merit Medical Systems had a return on equity of 12.42% and a net margin of 2.74%. The firm had revenue of $280.33 million during the quarter, compared to the consensus estimate of $251.40 million. As a group, equities analysts predict that Merit Medical Systems, Inc. will post 2.14 earnings per share for the current year.

Several research analysts have recently commented on MMSI shares. Barrington Research boosted their price objective on Merit Medical Systems from $71.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 30th. Raymond James upped their target price on Merit Medical Systems from $69.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, July 30th. Wells Fargo & Company upped their target price on Merit Medical Systems from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Friday, July 30th. Piper Sandler upped their target price on Merit Medical Systems from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th. Finally, Needham & Company LLC upped their target price on Merit Medical Systems from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $71.56.

In related news, Director Lynne Ward sold 9,470 shares of the company’s stock in a transaction that occurred on Wednesday, September 15th. The stock was sold at an average price of $71.83, for a total transaction of $680,230.10. Following the completion of the transaction, the director now owns 21,969 shares in the company, valued at $1,578,033.27. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jill Anderson sold 850 shares of the company’s stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $71.64, for a total value of $60,894.00. The disclosure for this sale can be found here. Insiders sold 25,866 shares of company stock valued at $1,858,571 in the last quarter. Corporate insiders own 3.70% of the company’s stock.

Merit Medical Systems Profile

Merit Medical Systems, Inc engages in the manufacture and marketing of proprietary disposable medical devices. It operates through the Cardiovascular and Endoscopy segments. The Cardiovascular segment consists of peripheral intervention, cardiac intervention, interventional oncology and spine, and cardiovascular and critical care product groups.

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

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