Victory Capital Management Inc. Raises Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Victory Capital Management Inc. boosted its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,742 shares of the medical instruments supplier’s stock after purchasing an additional 1,226 shares during the quarter. Victory Capital Management Inc. owned about 0.11% of Merit Medical Systems worth $5,307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. National Bank of Canada FI purchased a new stake in Merit Medical Systems in the 2nd quarter valued at $77,000. Rhumbline Advisers raised its position in Merit Medical Systems by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 166,222 shares of the medical instruments supplier’s stock valued at $14,287,000 after purchasing an additional 695 shares during the last quarter. Guidance Capital Inc. raised its position in Merit Medical Systems by 9.4% in the 2nd quarter. Guidance Capital Inc. now owns 6,128 shares of the medical instruments supplier’s stock valued at $523,000 after purchasing an additional 527 shares during the last quarter. Natixis Advisors LLC raised its position in Merit Medical Systems by 10.8% in the 2nd quarter. Natixis Advisors LLC now owns 66,535 shares of the medical instruments supplier’s stock valued at $5,719,000 after purchasing an additional 6,487 shares during the last quarter. Finally, nVerses Capital LLC raised its position in Merit Medical Systems by 154.5% in the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the medical instruments supplier’s stock valued at $241,000 after purchasing an additional 1,700 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Insider Buying and Selling

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the sale, the director now owns 32,391 shares of the company’s stock, valued at $2,753,235. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MMSI. Robert W. Baird began coverage on shares of Merit Medical Systems in a research note on Friday, June 28th. They issued an “outperform” rating and a $96.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research note on Monday. Canaccord Genuity Group boosted their price objective on shares of Merit Medical Systems from $102.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Bank of America boosted their price objective on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday. Finally, StockNews.com raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $100.55.

Merit Medical Systems Price Performance

NASDAQ:MMSI opened at $99.64 on Tuesday. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 57.26, a price-to-earnings-growth ratio of 2.53 and a beta of 0.87. Merit Medical Systems, Inc. has a 12-month low of $62.58 and a 12-month high of $100.10. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average is $90.72 and its two-hundred day moving average is $82.55.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.04. The business had revenue of $338.00 million for the quarter, compared to analyst estimates of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. Research analysts expect that Merit Medical Systems, Inc. will post 3.31 EPS for the current year.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.