Merit Medical Systems Inc. (MMSI) Sees Unusually-High Trading Volume
Shares of Merit Medical Systems Inc. (NASDAQ:MMSI) saw an uptick in trading volume on Wednesday . 223,764 shares changed hands during mid-day trading, an increase of 2% from the previous session’s volume of 219,958 shares.The stock last traded at $20.46 and had previously closed at $19.94.
Separately, Zacks Investment Research downgraded shares of Merit Medical Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd.
The stock has a market cap of $908.33 million and a P/E ratio of 40.20. The company’s 50-day moving average is $19.22 and its 200 day moving average is $18.38.
Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.00. During the same period in the previous year, the business earned $0.18 earnings per share. The company had revenue of $138.10 million for the quarter, compared to analysts’ expectations of $137.96 million. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Analysts predict that Merit Medical Systems Inc. will post $0.97 earnings per share for the current fiscal year.
Other institutional investors recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in Merit Medical Systems by 194.9% in the fourth quarter. Wells Fargo & Company MN now owns 116,867 shares of the company’s stock valued at $2,172,000 after buying an additional 77,236 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in Merit Medical Systems by 102.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 214,896 shares of the company’s stock valued at $3,995,000 after buying an additional 108,899 shares during the last quarter. GSA Capital Partners LLP increased its position in Merit Medical Systems by 19.8% in the fourth quarter. GSA Capital Partners LLP now owns 84,566 shares of the company’s stock valued at $1,572,000 after buying an additional 13,966 shares during the last quarter. DIAM Co. Ltd. increased its position in Merit Medical Systems by 138.0% in the fourth quarter. DIAM Co. Ltd. now owns 95,156 shares of the company’s stock valued at $1,808,000 after buying an additional 55,167 shares during the last quarter. Finally, Eagle Asset Management Inc. bought a new position in Merit Medical Systems during the fourth quarter valued at about $1,313,000.
Merit Medical Systems, Inc (Merit) is a designer, developer, manufacturer and marketer of medical devices used in an array of interventional and diagnostic procedures across the world. The Company operates in the diagnostic and interventional cardiology, interventional radiology, interventional gastroenterology, interventional pulmonology, thoracic surgery, interventional nephrology, vascular surgery, oncology, electrophysiology, cardiac rhythm management and pain management markets.