Strs Ohio Sells 4,100 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Strs Ohio lessened its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 23.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,700 shares of the medical instruments supplier’s stock after selling 4,100 shares during the quarter. Strs Ohio’s holdings in Merit Medical Systems were worth $1,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in shares of Merit Medical Systems by 69.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 103,099 shares of the medical instruments supplier’s stock worth $7,116,000 after acquiring an additional 42,191 shares during the last quarter. FMR LLC boosted its stake in shares of Merit Medical Systems by 26.0% during the 3rd quarter. FMR LLC now owns 607,881 shares of the medical instruments supplier’s stock worth $41,956,000 after acquiring an additional 125,605 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Merit Medical Systems by 161.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 141,938 shares of the medical instruments supplier’s stock worth $9,797,000 after acquiring an additional 87,711 shares during the last quarter. Trillium Asset Management LLC boosted its stake in shares of Merit Medical Systems by 18.0% during the 3rd quarter. Trillium Asset Management LLC now owns 97,874 shares of the medical instruments supplier’s stock worth $6,755,000 after acquiring an additional 14,951 shares during the last quarter. Finally, Mariner LLC boosted its stake in shares of Merit Medical Systems by 352.9% during the 3rd quarter. Mariner LLC now owns 31,813 shares of the medical instruments supplier’s stock worth $2,196,000 after acquiring an additional 24,788 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Stock Up 1.3 %

Shares of MMSI stock opened at $74.18 on Wednesday. The company’s fifty day simple moving average is $74.86 and its two-hundred day simple moving average is $73.68. Merit Medical Systems, Inc. has a 52 week low of $62.58 and a 52 week high of $85.62. The company has a quick ratio of 3.95, a current ratio of 5.45 and a debt-to-equity ratio of 0.68. The stock has a market cap of $4.31 billion, a P/E ratio of 45.79, a PEG ratio of 2.01 and a beta of 0.89.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. Merit Medical Systems had a net margin of 7.51% and a return on equity of 14.63%. The firm had revenue of $324.52 million for the quarter, compared to the consensus estimate of $320.66 million. During the same period in the previous year, the firm posted $0.79 EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. Analysts predict that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

Insider Transactions at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 6,480 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total value of $479,196.00. Following the sale, the chief financial officer now directly owns 12,007 shares in the company, valued at approximately $887,917.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Joseph Wright sold 25,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $75.68, for a total value of $1,892,000.00. Following the sale, the insider now directly owns 42,223 shares of the company’s stock, valued at approximately $3,195,436.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Raul Jr. Parra sold 6,480 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total transaction of $479,196.00. Following the completion of the sale, the chief financial officer now directly owns 12,007 shares in the company, valued at $887,917.65. The disclosure for this sale can be found here. Insiders have sold a total of 49,637 shares of company stock worth $3,751,673 in the last three months. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

MMSI has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $88.00 target price on shares of Merit Medical Systems in a research note on Thursday, April 11th. StockNews.com cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday. Canaccord Genuity Group lifted their target price on shares of Merit Medical Systems from $102.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Piper Sandler lifted their target price on shares of Merit Medical Systems from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, January 12th. Finally, CL King started coverage on shares of Merit Medical Systems in a research note on Thursday, April 11th. They issued a “buy” rating and a $88.00 price target on the stock. Two research 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $92.50.

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.