US Bancorp DE trimmed its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,215 shares of the medical instruments supplier’s stock after selling 965 shares during the quarter. US Bancorp DE owned 0.05% of Merit Medical Systems worth $1,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in MMSI. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Merit Medical Systems by 5.1% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 305,043 shares of the medical instruments supplier’s stock worth $18,745,000 after buying an additional 14,700 shares during the last quarter. Arizona State Retirement System raised its holdings in Merit Medical Systems by 8.1% in the 3rd quarter. Arizona State Retirement System now owns 79,400 shares of the medical instruments supplier’s stock worth $4,879,000 after purchasing an additional 5,969 shares during the period. EULAV Asset Management raised its holdings in Merit Medical Systems by 192.5% in the 3rd quarter. EULAV Asset Management now owns 27,200 shares of the medical instruments supplier’s stock worth $1,671,000 after purchasing an additional 17,900 shares during the period. Congress Asset Management Co. MA raised its holdings in Merit Medical Systems by 0.9% in the 3rd quarter. Congress Asset Management Co. MA now owns 123,936 shares of the medical instruments supplier’s stock worth $7,616,000 after purchasing an additional 1,121 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Merit Medical Systems by 9.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 247,326 shares of the medical instruments supplier’s stock worth $15,191,000 after purchasing an additional 22,330 shares during the period. Hedge funds and other institutional investors own 88.59% of the company’s stock.

In other news, Director F. Ann Millner sold 9,593 shares of the firm’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $56.92, for a total transaction of $546,033.56. Following the completion of the transaction, the director now directly owns 7,891 shares in the company, valued at $449,155.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Ronald Frost sold 5,257 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $61.31, for a total value of $322,306.67. Following the transaction, the chief operating officer now owns 5,257 shares of the company’s stock, valued at $322,306.67. The disclosure for this sale can be found here. Corporate insiders own 5.16% of the company’s stock.

MMSI has been the subject of a number of analyst reports. Needham & Company LLC upped their price target on Merit Medical Systems from $54.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. Canaccord Genuity increased their target price on Merit Medical Systems from $60.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Raymond James increased their target price on Merit Medical Systems from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, July 24th. Barrington Research increased their target price on Merit Medical Systems from $50.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, July 24th. Finally, Zacks Investment Research raised Merit Medical Systems from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $68.10.

NASDAQ:MMSI opened at $61.28 on Monday. Merit Medical Systems, Inc. has a one year low of $40.20 and a one year high of $66.34. The company has a quick ratio of 1.47, a current ratio of 2.77 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $3.36 billion, a P/E ratio of 47.88, a P/E/G ratio of 2.83 and a beta of 1.19.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, October 25th. The medical instruments supplier reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. The firm had revenue of $221.66 million during the quarter, compared to analysts’ expectations of $217.62 million. Merit Medical Systems had a return on equity of 10.86% and a net margin of 4.72%. As a group, equities research analysts anticipate that Merit Medical Systems, Inc. will post 1.66 earnings per share for the current year.

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Merit Medical Systems 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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