Merit Medical Systems, Inc. $MMSI Shares Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio grew its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 13.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,563 shares of the medical instruments supplier’s stock after purchasing an additional 9,167 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.13% of Merit Medical Systems worth $5,277,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in Merit Medical Systems during the fourth quarter valued at $25,000. Maseco LLP acquired a new position in shares of Merit Medical Systems in the fourth quarter worth about $26,000. Torren Management LLC purchased a new stake in shares of Merit Medical Systems during the 4th quarter worth about $38,000. Covestor Ltd grew its position in shares of Merit Medical Systems by 252.6% during the 4th quarter. Covestor Ltd now owns 469 shares of the medical instruments supplier’s stock valued at $41,000 after acquiring an additional 336 shares during the period. Finally, Danske Bank A S acquired a new stake in shares of Merit Medical Systems during the 3rd quarter valued at about $42,000. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MMSI shares. JPMorgan Chase & Co. reduced their price target on Merit Medical Systems from $95.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Barrington Research reduced their target price on Merit Medical Systems from $109.00 to $107.00 and set an “outperform” rating for the company in a research note on Monday, April 20th. Needham & Company LLC decreased their target price on Merit Medical Systems from $101.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Robert W. Baird set a $83.00 price target on shares of Merit Medical Systems in a research note on Friday, May 1st. Finally, Wells Fargo & Company cut their price target on shares of Merit Medical Systems from $78.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus price target of $92.80.

Insider Activity at Merit Medical Systems

In other news, Director Lynne N. Ward sold 5,000 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $62.61, for a total transaction of $313,050.00. Following the completion of the sale, the director owned 7,809 shares of the company’s stock, valued at $488,921.49. This represents a 39.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian G. Lloyd purchased 2,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was acquired at an average cost of $62.62 per share, for a total transaction of $125,240.00. Following the completion of the purchase, the insider owned 2,000 shares of the company’s stock, valued at approximately $125,240. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.70% of the stock is currently owned by insiders.

Merit Medical Systems Trading Up 3.3%

MMSI stock opened at $80.84 on Thursday. Merit Medical Systems, Inc. has a 12-month low of $59.74 and a 12-month high of $94.75. The business’s 50-day moving average is $69.06 and its 200 day moving average is $71.71. The company has a current ratio of 5.08, a quick ratio of 3.46 and a debt-to-equity ratio of 0.45. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 2.44 and a beta of 0.52.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, April 30th. The medical instruments supplier reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.10. The business had revenue of $381.88 million during the quarter, compared to analysts’ expectations of $377.59 million. Merit Medical Systems had a return on equity of 13.54% and a net margin of 9.03%.The business’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 earnings per share. On average, sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.62 EPS for the current fiscal year.

Merit Medical Systems Profile

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.