California State Teachers Retirement System Has $4.79 Million Holdings in Merit Medical Systems, Inc. $MMSI

Key Points

• California State Teachers Retirement System increased its Merit Medical Systems stake by 23.1% in the first quarter, holding 69,505 shares valued at approximately $4.79 million. Institutional investors collectively own 99.66% of the company.
• Analysts maintain a positive outlook, with eight Buy ratings and three Holds, an overall “Moderate Buy” consensus, and an average price target of $100.30.
• Merit Medical exceeded quarterly expectations, reporting $1.19 in EPS versus the $0.96 estimate and $418.84 million in revenue, up 9.5% year over year. Shares opened at $89.04, near their 52-week high of $94.75.

California State Teachers Retirement System increased its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 23.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,505 shares of the medical instruments supplier's stock after acquiring an additional 13,039 shares during the period. California State Teachers Retirement System owned about 0.12% of Merit Medical Systems worth $4,791,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. lifted its stake in Merit Medical Systems by 54.2% in the 4th quarter. Bessemer Group Inc. now owns 313,981 shares of the medical instruments supplier's stock valued at $27,674,000 after acquiring an additional 110,392 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Merit Medical Systems in the fourth quarter worth $12,239,000. Norges Bank bought a new stake in shares of Merit Medical Systems in the fourth quarter worth $75,957,000. Peak Retirement Planning Inc. boosted its holdings in Merit Medical Systems by 35.4% during the fourth quarter. Peak Retirement Planning Inc. now owns 32,472 shares of the medical instruments supplier's stock worth $2,862,000 after purchasing an additional 8,494 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Merit Medical Systems during the first quarter worth $2,919,000. 99.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MMSI shares. Raymond James Financial reissued an "outperform" rating and set a $100.00 price target on shares of Merit Medical Systems in a research report on Friday, July 31st. Needham & Company LLC lifted their target price on Merit Medical Systems from $90.00 to $101.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Compass Point set a $107.00 target price on Merit Medical Systems in a report on Monday, April 20th. JPMorgan Chase & Co. increased their price target on Merit Medical Systems from $77.00 to $95.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Finally, Barrington Research set a $114.00 price target on Merit Medical Systems in a research report on Friday, July 31st. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $100.30.

Merit Medical Systems Trading Up 1.5%

Shares of Merit Medical Systems stock opened at $89.04 on Friday. Merit Medical Systems, Inc. has a 52-week low of $59.74 and a 52-week high of $94.75. The stock has a market cap of $5.32 billion, a PE ratio of 36.79, a PEG ratio of 2.21 and a beta of 0.49. The firm has a 50-day moving average of $72.21 and a 200-day moving average of $71.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.79 and a current ratio of 4.20.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 EPS for the quarter, topping the consensus estimate of $0.96 by $0.23. The company had revenue of $418.84 million for the quarter, compared to analysts' expectations of $405.25 million. Merit Medical Systems had a net margin of 9.22% and a return on equity of 13.75%. The business's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the firm earned $1.01 earnings per share. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. As a group, sell-side analysts forecast that Merit Medical Systems, Inc. will post 3.81 EPS for the current year.

About Merit Medical Systems

Merit Medical Systems, Inc is a global manufacturer and marketer of a broad range of medical devices used in diagnostic and interventional procedures. The company's product portfolio encompasses vascular access, drainage, embolotherapy, and interventional oncology devices, as well as radiofrequency ablation systems and hemostasis solutions. These products serve physicians and hospitals in critical care settings and support minimally invasive treatment options across multiple specialties, including cardiology, radiology, oncology, neurology and endoscopy.

Founded in 1987 by Fred Lampropoulos, Merit Medical Systems has grown through both organic development and targeted acquisitions to expand its technology offerings and geographic reach.

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