First Mercantile Trust Co. reduced its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 41.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,568 shares of the medical instruments supplier’s stock after selling 5,427 shares during the period. First Mercantile Trust Co.’s holdings in Merit Medical Systems were worth $327,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New York State Common Retirement Fund grew its position in Merit Medical Systems by 17.1% during the 2nd quarter. New York State Common Retirement Fund now owns 52,100 shares of the medical instruments supplier’s stock worth $1,988,000 after purchasing an additional 7,599 shares during the period. Hodges Capital Management Inc. acquired a new stake in Merit Medical Systems during the 3rd quarter worth about $14,253,000. Stevens Capital Management LP acquired a new stake in Merit Medical Systems during the 3rd quarter worth about $594,000. New York State Teachers Retirement System grew its position in Merit Medical Systems by 3.6% during the 3rd quarter. New York State Teachers Retirement System now owns 95,033 shares of the medical instruments supplier’s stock worth $4,025,000 after purchasing an additional 3,300 shares during the period. Finally, Wells Fargo & Company MN grew its position in Merit Medical Systems by 189.2% during the 3rd quarter. Wells Fargo & Company MN now owns 324,487 shares of the medical instruments supplier’s stock worth $13,742,000 after purchasing an additional 212,304 shares during the period. 87.44% of the stock is currently owned by institutional investors.

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) opened at $42.65 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.78. Merit Medical Systems, Inc. has a 12 month low of $27.25 and a 12 month high of $48.10. The stock has a market cap of $2,140.98, a PE ratio of 33.58, a PEG ratio of 2.53 and a beta of 1.29.

In related news, Director Kent W. Stanger sold 9,082 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $44.90, for a total value of $407,781.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Franklin J. Miller sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $43.93, for a total transaction of $439,300.00. Following the completion of the transaction, the director now directly owns 21,244 shares in the company, valued at $933,248.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,000 shares of company stock worth $1,416,379. Corporate insiders own 5.00% of the company’s stock.

MMSI has been the topic of several analyst reports. Zacks Investment Research raised Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Saturday, October 28th. Wells Fargo & Co reissued an “outperform” rating and set a $51.00 target price (up from $46.00) on shares of Merit Medical Systems in a research note on Thursday, November 30th. SunTrust Banks set a $47.00 target price on shares of Merit Medical Systems and gave the stock a “buy” rating in a research note on Thursday, November 16th. BidaskClub lowered shares of Merit Medical Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. Finally, ValuEngine raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $43.77.

COPYRIGHT VIOLATION NOTICE: “First Mercantile Trust Co. Has $327,000 Holdings in Merit Medical Systems, Inc. (MMSI)” was reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this piece of content on another publication, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be read at https://theolympiareport.com/2018/02/12/first-mercantile-trust-co-has-327000-holdings-in-merit-medical-systems-inc-mmsi.html.

About Merit Medical Systems

Merit Medical Systems, Inc is a manufacturer and marketer of disposable medical devices used in a range of interventional, diagnostic and therapeutic medical procedures. The Company operates in two segments: cardiovascular and endoscopy. The cardiovascular segment consists of cardiology and radiology devices, which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases, and includes embolotherapeutic, cardiac rhythm management (CRM), electrophysiology (EP), and interventional oncology and spine devices.

Want to see what other hedge funds are holding MMSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merit Medical Systems, Inc. (NASDAQ:MMSI).

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

Receive News & Ratings for Merit Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merit Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.