Public Sector Pension Investment Board lifted its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 27.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 184,852 shares of the medical instruments supplier's stock after acquiring an additional 39,653 shares during the period. Public Sector Pension Investment Board owned 0.31% of Merit Medical Systems worth $19,541,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the company. Invesco Ltd. grew its position in Merit Medical Systems by 16.4% in the 1st quarter. Invesco Ltd. now owns 1,787,289 shares of the medical instruments supplier's stock valued at $188,934,000 after buying an additional 251,821 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Merit Medical Systems by 2.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,633,246 shares of the medical instruments supplier's stock valued at $157,968,000 after acquiring an additional 36,489 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Merit Medical Systems by 0.6% in the 4th quarter. Royal Bank of Canada now owns 938,210 shares of the medical instruments supplier's stock valued at $90,744,000 after acquiring an additional 5,932 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Merit Medical Systems in the first quarter worth approximately $80,679,000. Finally, Northern Trust Corp lifted its position in shares of Merit Medical Systems by 12.8% in the fourth quarter. Northern Trust Corp now owns 750,936 shares of the medical instruments supplier's stock worth $72,631,000 after purchasing an additional 85,483 shares in the last quarter. Institutional investors own 99.66% of the company's stock.
Insider Activity at Merit Medical Systems
In other news, Director Lynne N. Ward sold 2,433 shares of Merit Medical Systems stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $84.89, for a total transaction of $206,537.37. Following the transaction, the director owned 12,809 shares in the company, valued at $1,087,356.01. The trade was a 15.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Floyd sold 3,515 shares of Merit Medical Systems stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $94.16, for a total value of $330,972.40. Following the transaction, the director owned 4,880 shares in the company, valued at $459,500.80. This trade represents a 41.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 88,029 shares of company stock worth $8,377,970. 3.20% of the stock is owned by company insiders.
Merit Medical Systems Price Performance
Shares of Merit Medical Systems stock traded up $1.39 during trading on Wednesday, reaching $86.15. The company's stock had a trading volume of 466,505 shares, compared to its average volume of 815,665. The stock has a 50-day moving average price of $89.80 and a two-hundred day moving average price of $96.17. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. Merit Medical Systems, Inc. has a one year low of $81.04 and a one year high of $111.45. The stock has a market capitalization of $5.10 billion, a P/E ratio of 43.73, a price-to-earnings-growth ratio of 2.77 and a beta of 0.66.
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 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.16. The firm had revenue of $382.46 million during the quarter, compared to analyst estimates of $372.47 million. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%. The company's revenue was up 13.2% on a year-over-year basis. During the same period last year, the company earned $0.92 earnings per share. As a group, sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.
Wall Street Analyst Weigh In
MMSI has been the topic of a number of research reports. Barrington Research restated an "outperform" rating and issued a $103.00 price objective on shares of Merit Medical Systems in a report on Thursday, July 31st. Robert W. Baird lowered their price objective on shares of Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Piper Sandler lowered their price objective on shares of Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Raymond James Financial reduced their target price on Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Finally, Canaccord Genuity Group set a $112.00 target price on Merit Medical Systems and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $107.00.
Get Our Latest Stock Report on MMSI
About Merit Medical Systems
(
Free Report)
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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