Schwab Charles Investment Management Inc. boosted its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 270,682 shares of the medical instruments supplier’s stock after acquiring an additional 1,297 shares during the period. Schwab Charles Investment Management Inc. owned 0.49% of Merit Medical Systems worth $13,859,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in MMSI. Mount Yale Investment Advisors LLC bought a new position in shares of Merit Medical Systems during the 1st quarter worth approximately $156,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Merit Medical Systems during the 2nd quarter worth approximately $206,000. BTC Capital Management Inc. bought a new position in shares of Merit Medical Systems during the 1st quarter worth approximately $206,000. Envestnet Asset Management Inc. lifted its holdings in shares of Merit Medical Systems by 1,336.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,842 shares of the medical instruments supplier’s stock worth $221,000 after purchasing an additional 4,505 shares in the last quarter. Finally, Silvant Capital Management LLC bought a new position in shares of Merit Medical Systems in the 1st quarter worth $231,000. Institutional investors and hedge funds own 86.96% of the company’s stock.
Shares of Merit Medical Systems stock traded down $1.44 during trading hours on Wednesday, hitting $61.25. 477,800 shares of the company’s stock traded hands, compared to its average volume of 391,033. Merit Medical Systems, Inc. has a 12-month low of $36.21 and a 12-month high of $66.34. The firm has a market cap of $3.36 billion, a PE ratio of 48.40, a P/E/G ratio of 2.90 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.66 and a quick ratio of 1.45.
Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Monday, July 23rd. The medical instruments supplier reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $224.81 million during the quarter, compared to analyst estimates of $214.64 million. Merit Medical Systems had a return on equity of 10.48% and a net margin of 2.44%. The business’s revenue was up 20.5% compared to the same quarter last year. During the same period last year, the firm posted $0.36 EPS. As a group, equities analysts anticipate that Merit Medical Systems, Inc. will post 1.64 EPS for the current fiscal year.
A number of brokerages recently issued reports on MMSI. Sidoti set a $79.00 target price on Merit Medical Systems and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Piper Jaffray Companies increased their target price on Merit Medical Systems from $58.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, October 2nd. Barrington Research increased their target price on Merit Medical Systems to $69.00 and gave the stock an “outperform” rating in a report on Tuesday, October 2nd. Needham & Company LLC increased their price target on Merit Medical Systems from $67.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Finally, SunTrust Banks increased their price target on Merit Medical Systems to $68.00 and gave the company a “buy” rating in a research report on Monday, August 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $67.10.
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.
Featured Story: Balance Sheet
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.