Police & Firemen s Retirement System of New Jersey Boosts Stake in Merit Medical Systems, Inc. $MMSI

Police & Firemen s Retirement System of New Jersey boosted its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 5.1% in the 2nd quarter, Holdings Channel reports. The firm owned 13,062 shares of the medical instruments supplier’s stock after buying an additional 630 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Merit Medical Systems were worth $1,221,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MMSI. Maseco LLP bought a new stake in shares of Merit Medical Systems during the 2nd quarter worth approximately $28,000. IFP Advisors Inc increased its stake in Merit Medical Systems by 1,435.0% in the first quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 287 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position 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 worth $39,000 after purchasing an additional 200 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Merit Medical Systems by 55.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock worth $35,000 after purchasing an additional 134 shares during the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in shares of Merit Medical Systems during the first quarter valued at $41,000. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

NASDAQ MMSI opened at $87.20 on Friday. The company has a market cap of $5.17 billion, a PE ratio of 44.26, a P/E/G ratio of 2.62 and a beta of 0.64. The firm’s 50 day moving average price is $83.81 and its 200-day moving average price is $88.56. 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, Inc. has a 52-week low of $78.12 and a 52-week high of $111.45.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.The company had revenue of $384.16 million during the quarter, compared to analyst estimates of $371.69 million. During the same quarter in the prior year, the business earned $0.86 earnings per share. Merit Medical Systems’s revenue was up 13.0% on a year-over-year basis. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. Sell-side analysts forecast that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Merit Medical Systems news, Chairman Fred P. Lampropoulos sold 20,000 shares of Merit Medical Systems stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $85.13, for a total value of $1,702,600.00. Following the transaction, the chairman owned 1,054,955 shares in the company, valued at $89,808,319.15. The trade was a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on MMSI shares. Needham & Company LLC reiterated a “buy” rating and set a $108.00 price objective on shares of Merit Medical Systems in a report on Friday, October 31st. Canaccord Genuity Group reduced their target price on shares of Merit Medical Systems from $104.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Raymond James Financial lowered their price target on Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Robert W. Baird set a $103.00 price objective on Merit Medical Systems in a research note on Friday, October 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $109.00 target price (up from $105.00) on shares of Merit Medical Systems in a research report on Friday, October 31st. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.50.

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.