BTC Capital Management Inc. acquired a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,199 shares of the medical instruments supplier’s stock, valued at approximately $238,000.

Several other institutional investors have also bought and sold shares of MMSI. Norges Bank acquired a new position in Merit Medical Systems during the fourth quarter worth approximately $7,773,000. Teachers Advisors LLC raised its position in Merit Medical Systems by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 557,413 shares of the medical instruments supplier’s stock worth $14,771,000 after buying an additional 3,839 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Merit Medical Systems by 11.7% in the first quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the medical instruments supplier’s stock worth $578,000 after buying an additional 2,100 shares during the last quarter. Perkins Capital Management Inc. raised its position in Merit Medical Systems by 188.6% in the first quarter. Perkins Capital Management Inc. now owns 30,300 shares of the medical instruments supplier’s stock worth $876,000 after buying an additional 19,800 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Merit Medical Systems by 13.1% in the first quarter. State of Alaska Department of Revenue now owns 5,430 shares of the medical instruments supplier’s stock worth $156,000 after buying an additional 630 shares during the last quarter. Institutional investors and hedge funds own 92.11% of the company’s stock.

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) opened at 39.75 on Friday. Merit Medical Systems, Inc. has a 12-month low of $20.70 and a 12-month high of $42.60. The firm’s 50-day moving average price is $39.04 and its 200-day moving average price is $32.99. The firm has a market capitalization of $1.99 billion, a P/E ratio of 56.62 and a beta of 1.26.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.07. Merit Medical Systems had a net margin of 4.87% and a return on equity of 9.78%. The company had revenue of $186.50 million for the quarter, compared to analysts’ expectations of $181.46 million. During the same period last year, the firm earned $0.26 earnings per share. The business’s revenue for the quarter was up 23.4% on a year-over-year basis. Equities analysts predict that Merit Medical Systems, Inc. will post $1.26 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This article was first posted by Daily Political and is owned by of Daily Political. If you are accessing this article on another website, it was illegally stolen and reposted in violation of United States and international copyright and trademark law. The correct version of this article can be accessed at https://www.dailypolitical.com/2017/08/12/btc-capital-management-inc-takes-position-in-merit-medical-systems-inc-mmsi.html.

MMSI has been the topic of a number of recent analyst reports. Craig Hallum initiated coverage on Merit Medical Systems in a research note on Monday, April 17th. They issued a “buy” rating and a $36.00 price objective on the stock. Zacks Investment Research lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Canaccord Genuity reiterated a “buy” rating and issued a $37.00 price objective on shares of Merit Medical Systems in a research note on Friday, April 28th. Sidoti reiterated a “buy” rating and issued a $41.00 price objective (up from $35.00) on shares of Merit Medical Systems in a research note on Saturday, April 29th. Finally, SunTrust Banks, Inc. began coverage on Merit Medical Systems in a research note on Tuesday, June 20th. They set a “buy” rating and a $43.00 price target on the stock. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $39.74.

In related news, Director Franklin J. Miller sold 16,090 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $33.95, for a total transaction of $546,255.50. Following the sale, the director now owns 27,334 shares in the company, valued at approximately $927,989.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael E. Stillabower sold 17,110 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $33.71, for a total transaction of $576,778.10. Following the sale, the director now owns 52,778 shares in the company, valued at approximately $1,779,146.38. The disclosure for this sale can be found here. Insiders have sold 147,450 shares of company stock worth $5,607,192 over the last ninety days. Insiders own 5.00% of the company’s stock.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc is a manufacturer and marketer of disposable medical devices used in a range of interventional, diagnostic and therapeutic medical procedures. The Company operates in two segments: cardiovascular and endoscopy. The 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, and includes embolotherapeutic, cardiac rhythm management (CRM), electrophysiology (EP), and interventional oncology and spine devices.

Want to see what other hedge funds are holding MMSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merit Medical Systems, Inc. (NASDAQ:MMSI).

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

Receive News & Ratings for Merit Medical Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merit Medical Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.