Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Purchased by United Services Automobile Association

United Services Automobile Association increased its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 4.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 13,493 shares of the medical instruments supplier’s stock after purchasing an additional 631 shares during the period. United Services Automobile Association’s holdings in Merit Medical Systems were worth $804,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Waddell & Reed Financial Inc. lifted its position in Merit Medical Systems by 7.7% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 862,203 shares of the medical instruments supplier’s stock worth $51,353,000 after acquiring an additional 61,358 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Merit Medical Systems by 1,385.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 401,400 shares of the medical instruments supplier’s stock valued at $23,908,000 after purchasing an additional 374,384 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Merit Medical Systems by 6.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 30,089 shares of the medical instruments supplier’s stock valued at $1,792,000 after purchasing an additional 1,739 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Merit Medical Systems by 416.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,124 shares of the medical instruments supplier’s stock valued at $246,000 after purchasing an additional 3,325 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Merit Medical Systems by 70.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 127,761 shares of the medical instruments supplier’s stock valued at $7,609,000 after purchasing an additional 52,761 shares in the last quarter. 98.58% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director F. Ann Millner sold 3,780 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $36.67, for a total value of $138,612.60. Following the completion of the sale, the director now directly owns 13,298 shares in the company, valued at approximately $487,637.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Fred P. Lampropoulos sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $30.72, for a total value of $4,608,000.00. Following the completion of the sale, the chief executive officer now owns 929,991 shares of the company’s stock, valued at $28,569,323.52. The disclosure for this sale can be found here. Insiders sold a total of 234,530 shares of company stock valued at $7,853,050 over the last quarter. Company insiders own 4.75% of the company’s stock.

Shares of NASDAQ MMSI opened at $27.87 on Friday. Merit Medical Systems, Inc. has a twelve month low of $25.67 and a twelve month high of $65.18. The company has a current ratio of 2.42, a quick ratio of 1.27 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 1.53 and a beta of 1.07. The business has a 50 day simple moving average of $30.87 and a 200-day simple moving average of $48.17.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.08). Merit Medical Systems had a net margin of 4.10% and a return on equity of 10.40%. The firm had revenue of $255.50 million during the quarter, compared to the consensus estimate of $258.58 million. During the same quarter last year, the firm posted $0.43 earnings per share. Merit Medical Systems’s revenue was up 13.7% compared to the same quarter last year. As a group, equities analysts predict that Merit Medical Systems, Inc. will post 1.78 earnings per share for the current year.

A number of equities analysts have issued reports on the company. Oppenheimer assumed coverage on Merit Medical Systems in a research report on Monday, September 23rd. They issued an “outperform” rating and a $40.00 target price on the stock. Barrington Research assumed coverage on Merit Medical Systems in a research report on Thursday, September 12th. They issued a “buy” rating and a $59.00 target price on the stock. TheStreet lowered Merit Medical Systems from a “b-” rating to a “c+” rating in a research report on Monday, August 26th. Needham & Company LLC lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Piper Jaffray Companies cut their target price on Merit Medical Systems from $58.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $52.11.

Merit Medical Systems Company 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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