First Trust Advisors LP boosted its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 11.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 50,888 shares of the medical instruments supplier’s stock after purchasing an additional 5,423 shares during the quarter. First Trust Advisors LP’s holdings in Merit Medical Systems were worth $2,605,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Piedmont Investment Advisors LLC increased its stake in Merit Medical Systems by 9.1% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 11,725 shares of the medical instruments supplier’s stock worth $600,000 after purchasing an additional 981 shares in the last quarter. Amalgamated Bank increased its stake in Merit Medical Systems by 14.4% in the 2nd quarter. Amalgamated Bank now owns 8,025 shares of the medical instruments supplier’s stock worth $411,000 after purchasing an additional 1,010 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Merit Medical Systems by 4.8% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 24,310 shares of the medical instruments supplier’s stock worth $1,103,000 after purchasing an additional 1,110 shares in the last quarter. Comerica Bank increased its stake in Merit Medical Systems by 2.5% in the 1st quarter. Comerica Bank now owns 53,914 shares of the medical instruments supplier’s stock worth $2,458,000 after purchasing an additional 1,328 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Merit Medical Systems by 2.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 66,367 shares of the medical instruments supplier’s stock worth $3,007,000 after purchasing an additional 1,533 shares in the last quarter. Hedge funds and other institutional investors own 87.82% of the company’s stock.

NASDAQ:MMSI opened at $61.45 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.45 and a current ratio of 2.66. Merit Medical Systems, Inc. has a fifty-two week low of $36.21 and a fifty-two week high of $62.70. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 48.01, a price-to-earnings-growth ratio of 2.89 and a beta of 1.33.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Monday, July 23rd. The medical instruments supplier reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. Merit Medical Systems had a return on equity of 10.48% and a net margin of 2.44%. The company had revenue of $224.81 million for the quarter, compared to analysts’ expectations of $214.64 million. During the same quarter in the previous year, the business posted $0.36 EPS. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. equities analysts forecast that Merit Medical Systems, Inc. will post 1.64 earnings per share for the current fiscal year.

In other Merit Medical Systems news, Director Franklin J. Miller sold 7,206 shares of Merit Medical Systems stock in a transaction dated Monday, June 25th. The stock was sold at an average price of $50.60, for a total transaction of $364,623.60. Following the transaction, the director now owns 12,744 shares of the company’s stock, valued at approximately $644,846.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Franklin J. Miller sold 1,500 shares of Merit Medical Systems stock in a transaction dated Thursday, June 21st. The shares were sold at an average price of $50.05, for a total value of $75,075.00. Following the transaction, the director now directly owns 12,744 shares in the company, valued at approximately $637,837.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,706 shares of company stock worth $1,429,899. Company insiders own 5.00% of the company’s stock.

A number of equities analysts recently weighed in on the company. SunTrust Banks lifted their price target on Merit Medical Systems to $68.00 and gave the stock a “buy” rating in a research note on Monday, August 27th. Raymond James lifted their price target on Merit Medical Systems from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 24th. Barrington Research lifted their price target on Merit Medical Systems from $50.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 24th. Canaccord Genuity lifted their price target on Merit Medical Systems from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Finally, Needham & Company LLC lifted their price target on Merit Medical Systems from $54.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $63.25.

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.

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

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