Public Sector Pension Investment Board Has $12.21 Million Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Public Sector Pension Investment Board lessened its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 3.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 123,529 shares of the medical instruments supplier’s stock after selling 4,300 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.21% of Merit Medical Systems worth $12,208,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in shares of Merit Medical Systems during the 2nd quarter worth approximately $29,000. DekaBank Deutsche Girozentrale bought a new position in shares of Merit Medical Systems during the 1st quarter worth approximately $44,000. USA Financial Formulas bought a new position in shares of Merit Medical Systems during the 3rd quarter worth approximately $59,000. GAMMA Investing LLC boosted its stake in shares of Merit Medical Systems by 142.3% during the 2nd quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier’s stock worth $71,000 after acquiring an additional 488 shares during the period. Finally, National Bank of Canada FI bought a new position in shares of Merit Medical Systems during the 2nd quarter worth approximately $77,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Bank of America lifted their target price on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Piper Sandler reiterated an “overweight” rating and set a $110.00 target price (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Robert W. Baird boosted their price target on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Wells Fargo & Company boosted their price target on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Finally, StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.36.

Merit Medical Systems Trading Down 0.3 %

NASDAQ MMSI opened at $103.66 on Friday. The business’s 50-day moving average price is $98.98 and its two-hundred day moving average price is $91.50. Merit Medical Systems, Inc. has a 12 month low of $65.46 and a 12 month high of $106.87. The firm has a market capitalization of $6.04 billion, a PE ratio of 50.81, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The firm had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. During the same quarter in the previous year, the company posted $0.75 EPS. The business’s revenue was up 7.8% on a year-over-year basis. On average, analysts expect that Merit Medical Systems, Inc. will post 3.36 EPS for the current year.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 29,646 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total value of $2,905,900.92. Following the sale, the chief financial officer now owns 16,361 shares in the company, valued at approximately $1,603,705.22. The trade was a 64.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the completion of the sale, the director now owns 32,391 shares in the company, valued at $3,289,306.05. This trade represents a 27.85 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

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.