Public Sector Pension Investment Board Has $10.99 Million Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Public Sector Pension Investment Board grew its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 8.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,829 shares of the medical instruments supplier's stock after acquiring an additional 9,455 shares during the period. Public Sector Pension Investment Board owned about 0.22% of Merit Medical Systems worth $10,987,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. American Century Companies Inc. grew its holdings in Merit Medical Systems by 2.9% during the second quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier's stock worth $362,000 after purchasing an additional 118 shares during the period. Entropy Technologies LP boosted its stake in shares of Merit Medical Systems by 6.5% during the 1st quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier's stock worth $251,000 after acquiring an additional 203 shares during the period. Parallel Advisors LLC boosted its stake in shares of Merit Medical Systems by 114.6% during the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier's stock worth $30,000 after acquiring an additional 212 shares during the period. Blue Trust Inc. increased its holdings in shares of Merit Medical Systems by 19.7% during the 2nd quarter. Blue Trust Inc. now owns 1,426 shares of the medical instruments supplier's stock worth $123,000 after acquiring an additional 235 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Merit Medical Systems by 9.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,376 shares of the medical instruments supplier's stock valued at $290,000 after purchasing an additional 290 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on MMSI shares. Canaccord Genuity Group upped their price objective on shares of Merit Medical Systems from $102.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, July 2nd. Needham & Company LLC restated a "buy" rating and set a $105.00 price objective on shares of Merit Medical Systems in a report on Monday, September 16th. Piper Sandler reiterated an "overweight" rating and set a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Robert W. Baird assumed coverage on Merit Medical Systems in a research note on Friday, June 28th. They issued an "outperform" rating and a $96.00 price target for the company. Finally, Wells Fargo & Company increased their price objective on Merit Medical Systems from $85.00 to $103.00 and gave the stock an "equal weight" rating in a research report on Monday, September 16th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $101.82.

Insider Buying and Selling at Merit Medical Systems

In related news, Director F. Ann Millner sold 12,500 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the transaction, the director now owns 32,391 shares of the company's stock, valued at approximately $2,753,235. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.70% of the company's stock.

Merit Medical Systems Price Performance

Merit Medical Systems stock traded down $0.40 during trading hours on Tuesday, reaching $99.60. 256,815 shares of the stock were exchanged, compared to its average volume of 451,185. The stock has a 50 day moving average of $92.01 and a two-hundred day moving average of $83.39. The company has a market cap of $5.79 billion, a P/E ratio of 57.47, a price-to-earnings-growth ratio of 2.53 and a beta of 0.87. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. Merit Medical Systems, Inc. has a twelve month low of $62.58 and a twelve month high of $101.60.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The business had revenue of $338.00 million during the quarter, compared to the consensus estimate of $334.94 million. Equities analysts expect that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

Merit Medical Systems Company 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.