TIAA CREF Investment Management LLC decreased its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 12.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 234,282 shares of the medical instruments supplier’s stock after selling 32,693 shares during the period. TIAA CREF Investment Management LLC owned about 0.52% of Merit Medical Systems worth $6,771,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Mason Street Advisors LLC boosted its position in Merit Medical Systems by 17.9% in the first quarter. Mason Street Advisors LLC now owns 11,491 shares of the medical instruments supplier’s stock worth $332,000 after buying an additional 1,748 shares during the last quarter. Norges Bank purchased a new position in Merit Medical Systems during the fourth quarter worth approximately $7,773,000. Russell Investments Group Ltd. purchased a new position in Merit Medical Systems during the fourth quarter worth approximately $503,000. Swiss National Bank boosted its position in Merit Medical Systems by 10.1% in the first quarter. Swiss National Bank now owns 81,700 shares of the medical instruments supplier’s stock worth $2,361,000 after buying an additional 7,500 shares during the last quarter. Finally, Suntrust Banks Inc. purchased a new position in Merit Medical Systems during the first quarter worth approximately $214,000. Institutional investors own 92.11% of the company’s stock.
Shares of Merit Medical Systems, Inc. (NASDAQ MMSI) traded down 1.06% during mid-day trading on Tuesday, hitting $41.95. 340,924 shares of the company’s stock were exchanged. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 59.76 and a beta of 1.26. Merit Medical Systems, Inc. has a 52 week low of $20.70 and a 52 week high of $42.60. The firm has a 50 day moving average price of $38.37 and a 200-day moving average price of $32.44.
Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.07. The company had revenue of $186.50 million during the quarter, compared to analyst estimates of $181.46 million. Merit Medical Systems had a return on equity of 9.78% and a net margin of 4.87%. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 EPS. On average, equities analysts anticipate that Merit Medical Systems, Inc. will post $1.26 EPS for the current year.
A number of research firms have recently commented on MMSI. Piper Jaffray Companies reissued a “buy” rating and set a $45.00 target price on shares of Merit Medical Systems in a research report on Friday, July 28th. Craig Hallum reissued a “buy” rating and set a $50.00 target price (up from $42.00) on shares of Merit Medical Systems in a research report on Thursday, July 27th. Bank of America Corporation began coverage on shares of Merit Medical Systems in a research report on Thursday, July 20th. They set a “buy” rating and a $44.00 target price on the stock. Sidoti reaffirmed a “buy” rating and issued a $46.00 price target (up from $41.00) on shares of Merit Medical Systems in a report on Wednesday, June 28th. Finally, BidaskClub raised shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $39.74.
In other news, insider Richard W. Edelman sold 29,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $41.19, for a total transaction of $1,194,510.00. Following the completion of the transaction, the insider now directly owns 35,000 shares in the company, valued at approximately $1,441,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director F. Ann Millner sold 6,744 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $38.15, for a total value of $257,283.60. Following the transaction, the director now owns 4,247 shares of the company’s stock, valued at $162,023.05. The disclosure for this sale can be found here. Insiders have sold a total of 115,050 shares of company stock valued at $4,266,014 over the last 90 days. Corporate insiders own 5.00% of the company’s stock.
About Merit Medical Systems
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.
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