Bank of Montreal Can Has $679,000 Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Bank of Montreal Can decreased its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 43.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,860 shares of the medical instruments supplier’s stock after selling 6,129 shares during the quarter. Bank of Montreal Can’s holdings in Merit Medical Systems were worth $679,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in Merit Medical Systems in the 2nd quarter valued at $29,000. DekaBank Deutsche Girozentrale bought a new position in shares of Merit Medical Systems during the first quarter valued at $44,000. Headlands Technologies LLC acquired a new stake in shares of Merit Medical Systems in the 1st quarter valued at $50,000. GAMMA Investing LLC grew its holdings in shares of Merit Medical Systems by 142.3% in the 2nd quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier’s stock worth $71,000 after purchasing an additional 488 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Merit Medical Systems during the 2nd quarter worth about $77,000. 99.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America boosted their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Canaccord Genuity Group boosted their target price on Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Wednesday, September 18th. Barrington Research boosted their price objective on Merit Medical Systems from $100.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, Baird R W upgraded Merit Medical Systems to a “strong-buy” rating in a report on Friday, June 28th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.82.

Merit Medical Systems Price Performance

Merit Medical Systems stock opened at $95.68 on Wednesday. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 54.99, a P/E/G ratio of 2.52 and a beta of 0.87. Merit Medical Systems, Inc. has a 12-month low of $62.58 and a 12-month high of $101.60. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62. The business’s 50-day simple moving average is $94.26 and its 200 day simple moving average is $85.08.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.04. The company 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%. As a group, research analysts anticipate that Merit Medical Systems, Inc. will post 3.31 earnings per share for the current year.

About Merit Medical Systems

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.