Point72 Asset Management L.P. acquired a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the second quarter, Holdings Channel reports. The fund acquired 128,116 shares of the medical instruments supplier’s stock, valued at approximately $6,560,000.

A number of other institutional investors also recently modified their holdings of MMSI. BlackRock Inc. increased its position in Merit Medical Systems by 11.0% during the 2nd quarter. BlackRock Inc. now owns 7,045,772 shares of the medical instruments supplier’s stock valued at $360,744,000 after purchasing an additional 698,458 shares during the period. Frontier Capital Management Co. LLC increased its position in Merit Medical Systems by 74.8% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 916,409 shares of the medical instruments supplier’s stock valued at $46,920,000 after purchasing an additional 392,203 shares during the period. Redwood Investments LLC purchased a new position in Merit Medical Systems during the 2nd quarter valued at $17,087,000. Carillon Tower Advisers Inc. increased its position in Merit Medical Systems by 22.2% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 1,068,907 shares of the medical instruments supplier’s stock valued at $54,728,000 after purchasing an additional 194,196 shares during the period. Finally, Wells Fargo & Company MN increased its position in Merit Medical Systems by 39.2% during the 2nd quarter. Wells Fargo & Company MN now owns 602,192 shares of the medical instruments supplier’s stock valued at $30,832,000 after purchasing an additional 169,638 shares during the period. 86.97% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have issued reports on MMSI shares. Needham & Company LLC reissued a “buy” rating and set a $54.00 price objective on shares of Merit Medical Systems in a research report on Friday, June 1st. SunTrust Banks reissued a “buy” rating and set a $62.00 price objective (up from $55.00) on shares of Merit Medical Systems in a research report on Friday, June 1st. Zacks Investment Research raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Tuesday, June 26th. BidaskClub downgraded shares of Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 7th. Finally, Canaccord Genuity boosted their price objective on shares of Merit Medical Systems from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $63.25.

In other news, Director Franklin J. Miller sold 7,206 shares of the company’s stock in a transaction dated Monday, June 25th. The shares were sold at an average price of $50.60, for a total value of $364,623.60. Following the sale, the director now directly owns 12,744 shares of the company’s stock, valued at approximately $644,846.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Franklin J. Miller sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 21st. The stock was sold at an average price of $50.05, for a total transaction of $75,075.00. Following the completion of the sale, the director now directly owns 12,744 shares in the company, valued at $637,837.20. The disclosure for this sale can be found here. 5.16% of the stock is owned by corporate insiders.

NASDAQ:MMSI opened at $60.70 on Tuesday. The stock has a market capitalization of $3.44 billion, a PE ratio of 47.42, a price-to-earnings-growth ratio of 2.97 and a beta of 1.33. The company has a current ratio of 2.66, a quick ratio of 1.45 and a debt-to-equity ratio of 0.56. Merit Medical Systems, Inc. has a 1-year low of $36.21 and a 1-year high of $63.20.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Monday, July 23rd. The medical instruments supplier reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.03. The firm had revenue of $224.81 million for the quarter, compared to the consensus estimate of $214.64 million. Merit Medical Systems had a net margin of 2.44% and a return on equity of 10.48%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. analysts forecast that Merit Medical Systems, Inc. will post 1.64 EPS for the current fiscal year.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets various 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 various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.

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

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