Public Employees Retirement System of Ohio Boosts Stake in Merit Medical Systems, Inc. $MMSI

Key Points

• The Public Employees Retirement System of Ohio has increased its stake in Merit Medical Systems by 6.5%, holding a total of 66,102 shares valued at approximately $6.18 million.
• Merit Medical Systems reported a quarterly earnings per share of $1.01, exceeding analyst expectations and contributing to a 13.2% year-over-year revenue growth to $382.46 million.
• Institutional investors own 99.66% of Merit Medical Systems, highlighting significant investor interest in the company.

Public Employees Retirement System of Ohio raised its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 6.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,102 shares of the medical instruments supplier's stock after purchasing an additional 4,012 shares during the quarter. Public Employees Retirement System of Ohio owned 0.11% of Merit Medical Systems worth $6,179,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MMSI. Maseco LLP acquired a new position in Merit Medical Systems in the second quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Merit Medical Systems during the first quarter worth approximately $31,000. IFP Advisors Inc grew its holdings in Merit Medical Systems by 1,435.0% in the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier's stock worth $32,000 after buying an additional 287 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Merit Medical Systems by 55.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier's stock valued at $35,000 after acquiring an additional 134 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Merit Medical Systems by 119.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier's stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Trading Up 0.2%

Merit Medical Systems stock opened at $80.20 on Monday. Merit Medical Systems, Inc. has a 52 week low of $79.10 and a 52 week high of $111.45. The firm has a market capitalization of $4.75 billion, a PE ratio of 40.71, a PEG ratio of 2.70 and a beta of 0.64. The business's 50-day simple moving average is $86.19 and its 200-day simple moving average is $92.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The business had revenue of $382.46 million for the quarter, compared to the consensus estimate of $372.47 million. During the same quarter last year, the company posted $0.92 earnings per share. Merit Medical Systems's quarterly revenue was up 13.2% on a year-over-year basis. Equities research analysts forecast that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Insider Activity

In other news, Director Lynne N. Ward sold 3,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $88.56, for a total value of $265,680.00. Following the completion of the transaction, the director owned 12,809 shares in the company, valued at approximately $1,134,365.04. This represents a 18.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.70% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on MMSI shares. Needham & Company LLC reaffirmed a "buy" rating and set a $108.00 price target on shares of Merit Medical Systems in a research note on Friday, July 18th. Barrington Research reiterated an "outperform" rating and set a $103.00 price objective on shares of Merit Medical Systems in a research report on Tuesday, September 23rd. Wells Fargo & Company decreased their price objective on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Raymond James Financial lowered their target price on Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Finally, Piper Sandler reduced their price target on shares of Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, According to MarketBeat.com, Merit Medical Systems currently has a consensus rating of "Buy" and a consensus price target of $107.50.

Merit Medical Systems 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.

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