Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,810 shares of the medical instruments supplier’s stock after selling 179 shares during the period. Maryland State Retirement & Pension System’s holdings in Merit Medical Systems were worth $1,492,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Valued Wealth Advisors LLC purchased a new position in shares of Merit Medical Systems in the 4th quarter worth $29,000. Parallel Advisors LLC raised its holdings in shares of Merit Medical Systems by 114.6% in the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 212 shares during the period. Tompkins Financial Corp purchased a new position in shares of Merit Medical Systems in the 4th quarter worth about $38,000. Kapitalo Investimentos Ltda acquired a new position in shares of Merit Medical Systems in the 4th quarter valued at about $96,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Merit Medical Systems by 60.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,126 shares of the medical instruments supplier’s stock worth $161,000 after purchasing an additional 803 shares during the period. Institutional investors and hedge funds own 99.66% of the company’s stock.

Analysts Set New Price Targets

MMSI has been the topic of several research reports. Baird R W upgraded shares of Merit Medical Systems to a “strong-buy” rating in a report on Friday, June 28th. Robert W. Baird assumed coverage on shares of Merit Medical Systems in a report on Friday, June 28th. They set an “outperform” rating and a $96.00 target price on the stock. Canaccord Genuity Group upped their price target on shares of Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday. Piper Sandler raised their price objective on Merit Medical Systems from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Merit Medical Systems in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.20.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $81.85, for a total transaction of $613,875.00. Following the transaction, the chief operating officer now owns 14,819 shares of the company’s stock, valued at approximately $1,212,935.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction dated 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 transaction, the director now directly owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Neil Peterson sold 7,500 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $81.85, for a total transaction of $613,875.00. Following the sale, the chief operating officer now owns 14,819 shares in the company, valued at approximately $1,212,935.15. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Merit Medical Systems Stock Down 0.0 %

Shares of MMSI traded down $0.01 during trading on Friday, reaching $85.84. The company’s stock had a trading volume of 34,581 shares, compared to its average volume of 445,106. Merit Medical Systems, Inc. has a twelve month low of $62.58 and a twelve month high of $87.44. The company has a quick ratio of 4.38, a current ratio of 6.03 and a debt-to-equity ratio of 0.65. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 49.38, a P/E/G ratio of 2.44 and a beta of 0.88. The company has a fifty day moving average of $81.58 and a two-hundred day moving average of $77.96.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Tuesday, April 30th. The medical instruments supplier reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $323.51 million for the quarter, compared to the consensus estimate of $315.57 million. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. On average, sell-side analysts predict that Merit Medical Systems, Inc. will post 3.27 EPS for the current fiscal 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.