Great West Life Assurance Co. Can reduced its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 4.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 63,443 shares of the medical instruments supplier’s stock after selling 2,924 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Merit Medical Systems were worth $3,245,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mount Yale Investment Advisors LLC bought a new stake in shares of Merit Medical Systems during the 1st quarter worth $156,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Merit Medical Systems during the 2nd quarter worth $206,000. Intrust Bank NA bought a new stake in shares of Merit Medical Systems during the 2nd quarter worth $211,000. BTC Capital Management Inc. bought a new stake in shares of Merit Medical Systems during the 1st quarter worth $206,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Merit Medical Systems by 1,336.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,842 shares of the medical instruments supplier’s stock worth $221,000 after buying an additional 4,505 shares during the period. 86.97% of the stock is owned by institutional investors and hedge funds.

In other news, Director Franklin J. Miller sold 7,206 shares of the stock in a transaction on Monday, June 25th. The shares were sold at an average price of $50.60, for a total value of $364,623.60. Following the completion of the transaction, the director now owns 12,744 shares in the company, valued at approximately $644,846.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Franklin J. Miller sold 1,500 shares of the stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $50.05, for a total transaction of $75,075.00. Following the completion of the transaction, the director now owns 12,744 shares of the company’s stock, valued at approximately $637,837.20. The disclosure for this sale can be found here. 5.00% of the stock is owned by corporate insiders.

Several analysts recently issued reports on MMSI shares. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price objective on shares of Merit Medical Systems in a report on Friday, June 1st. SunTrust Banks reiterated a “buy” rating and set a $62.00 target price (up from $55.00) on shares of Merit Medical Systems in a research note on Friday, June 1st. Zacks Investment Research upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Tuesday, June 26th. BidaskClub cut shares of Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 7th. Finally, Canaccord Genuity upped their target price on shares of Merit Medical Systems from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $63.25.

NASDAQ:MMSI opened at $62.05 on Friday. The firm has a market cap of $3.35 billion, a P/E ratio of 48.48, a P/E/G ratio of 2.89 and a beta of 1.33. Merit Medical Systems, Inc. has a one year low of $36.21 and a one year high of $62.70. The company has a quick ratio of 1.45, a current ratio of 2.66 and a debt-to-equity ratio of 0.56.

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

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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