Spark Investment Management LLC Has $672,000 Position in Merit Medical Systems, Inc. (MMSI)
Spark Investment Management LLC continued to hold its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the third quarter, Holdings Channel reports. The institutional investor owned 27,700 shares of the company’s stock at the end of the third quarter. Spark Investment Management LLC owned 0.06% of Merit Medical Systems worth $672,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Rothschild Asset Management Inc. increased its position in shares of Merit Medical Systems by 4,258.1% in the third quarter. Rothschild Asset Management Inc. now owns 723,876 shares of the company’s stock worth $17,583,000 after buying an additional 707,266 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Merit Medical Systems by 77.2% in the third quarter. Ameriprise Financial Inc. now owns 1,368,382 shares of the company’s stock worth $33,239,000 after buying an additional 596,258 shares in the last quarter. Peregrine Capital Management LLC acquired a new position in shares of Merit Medical Systems during the third quarter worth $8,253,000. American Capital Management Inc. acquired a new position in shares of Merit Medical Systems during the third quarter worth $7,158,000. Finally, BlackRock Fund Advisors increased its position in shares of Merit Medical Systems by 8.1% in the third quarter. BlackRock Fund Advisors now owns 3,091,995 shares of the company’s stock worth $75,105,000 after buying an additional 230,893 shares in the last quarter. 90.27% of the stock is currently owned by institutional investors.
Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) traded up 2.30% on Friday, reaching $26.70. The company’s stock had a trading volume of 286,494 shares. Merit Medical Systems, Inc. has a 52-week low of $15.47 and a 52-week high of $26.90. The company has a 50 day moving average price of $25.45 and a 200 day moving average price of $23.42. The company has a market cap of $1.19 billion, a P/E ratio of 63.57 and a beta of 0.95.
Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.03. Merit Medical Systems had a net margin of 3.25% and a return on equity of 8.85%. The business earned $157 million during the quarter, compared to the consensus estimate of $155.06 million. During the same period in the prior year, the firm posted $0.20 EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, analysts anticipate that Merit Medical Systems, Inc. will post $1.00 earnings per share for the current fiscal year.
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A number of brokerages have recently weighed in on MMSI. Canaccord Genuity set a $29.00 price target on Merit Medical Systems and gave the company a “buy” rating in a report on Monday, October 24th. Zacks Investment Research downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th.
In other Merit Medical Systems news, Director Kent W. Stanger sold 12,000 shares of the company’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $26.27, for a total value of $315,240.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.60% of the stock is currently owned by company insiders.
Merit Medical Systems Company Profile
Merit Medical Systems, Inc is a designer, developer, manufacturer and marketer of medical devices used in an array of interventional and diagnostic procedures. The Company operates in two segments: cardiovascular and endoscopy. Its 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; embolotherapeutic products, and cardiac rhythm management and electrophysiology (CRM/EP) devices.
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