RK Capital Management LLC Sells 13,600 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

RK Capital Management LLC decreased its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 9.4% during the second quarter, HoldingsChannel.com reports. The firm owned 131,500 shares of the medical instruments supplier’s stock after selling 13,600 shares during the period. Merit Medical Systems accounts for 2.4% of RK Capital Management LLC’s portfolio, making the stock its 19th largest position. RK Capital Management LLC’s holdings in Merit Medical Systems were worth $10,999,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in Merit Medical Systems by 26.1% during the first quarter. JPMorgan Chase & Co. now owns 136,214 shares of the medical instruments supplier’s stock valued at $9,061,000 after acquiring an additional 28,233 shares in the last quarter. American Century Companies Inc. increased its position in shares of Merit Medical Systems by 17.9% in the first quarter. American Century Companies Inc. now owns 9,016 shares of the medical instruments supplier’s stock worth $600,000 after purchasing an additional 1,369 shares during the last quarter. Citigroup Inc. raised its stake in Merit Medical Systems by 8.1% in the first quarter. Citigroup Inc. now owns 49,073 shares of the medical instruments supplier’s stock valued at $3,265,000 after purchasing an additional 3,685 shares in the last quarter. MetLife Investment Management LLC grew its stake in Merit Medical Systems by 55.0% in the 1st quarter. MetLife Investment Management LLC now owns 28,593 shares of the medical instruments supplier’s stock worth $1,902,000 after buying an additional 10,143 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Merit Medical Systems by 4.3% in the first quarter. Rhumbline Advisers now owns 132,266 shares of the medical instruments supplier’s stock worth $8,798,000 after acquiring an additional 5,501 shares in the last quarter. Institutional investors own 93.16% of the company’s stock.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI traded up $0.13 during mid-day trading on Monday, reaching $71.50. The company’s stock had a trading volume of 49,779 shares, compared to its average volume of 297,315. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.13 and a quick ratio of 1.50. Merit Medical Systems, Inc. has a 52 week low of $62.58 and a 52 week high of $85.62. The stock has a fifty day moving average of $68.05 and a two-hundred day moving average of $74.36. The firm has a market capitalization of $4.13 billion, a PE ratio of 41.25, a P/E/G ratio of 2.10 and a beta of 0.93.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, October 26th. The medical instruments supplier reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. Merit Medical Systems had a net margin of 8.17% and a return on equity of 14.71%. The company had revenue of $315.23 million for the quarter, compared to the consensus estimate of $306.25 million. As a group, sell-side analysts anticipate that Merit Medical Systems, Inc. will post 2.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on MMSI shares. Needham & Company LLC dropped their target price on shares of Merit Medical Systems from $96.00 to $81.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Canaccord Genuity Group cut their price objective on shares of Merit Medical Systems from $86.00 to $70.00 and set a “hold” rating on the stock in a report on Monday, August 28th. Barrington Research lifted their target price on shares of Merit Medical Systems from $95.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Finally, StockNews.com upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $85.50.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, COO Neil Peterson sold 8,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $67.91, for a total transaction of $543,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is owned by corporate insiders.

Merit Medical Systems Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. It operates in two segments, Cardiovascular and Endoscopy. The company provides peripheral intervention products for the diagnosis and treatment of diseases in peripheral vessels and organs; 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.