Public Sector Pension Investment Board reduced its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 12.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,707 shares of the medical instruments supplier’s stock after selling 16,800 shares during the period. Public Sector Pension Investment Board’s holdings in Merit Medical Systems were worth $3,862,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC increased its position in shares of Merit Medical Systems by 1,878.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,088 shares of the medical instruments supplier’s stock worth $33,000 after acquiring an additional 1,033 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Merit Medical Systems by 20,825.0% in the third quarter. Tower Research Capital LLC TRC now owns 1,674 shares of the medical instruments supplier’s stock valued at $51,000 after purchasing an additional 1,666 shares during the last quarter. AlphaCrest Capital Management LLC purchased a new position in Merit Medical Systems in the fourth quarter valued at about $266,000. ProShare Advisors LLC boosted its holdings in Merit Medical Systems by 17.1% in the fourth quarter. ProShare Advisors LLC now owns 8,782 shares of the medical instruments supplier’s stock valued at $274,000 after purchasing an additional 1,281 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in Merit Medical Systems by 27.5% during the 4th quarter. Bank of Montreal Can now owns 9,038 shares of the medical instruments supplier’s stock valued at $282,000 after purchasing an additional 1,948 shares in the last quarter. Institutional investors own 97.48% of the company’s stock.
Shares of NASDAQ MMSI traded down $0.03 during midday trading on Thursday, hitting $32.97. The company’s stock had a trading volume of 38,056 shares, compared to its average volume of 769,957. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.26 and a current ratio of 2.50. Merit Medical Systems, Inc. has a 1-year low of $19.50 and a 1-year high of $63.64. The firm’s fifty day moving average price is $36.35 and its 200-day moving average price is $31.91. The firm has a market cap of $1.91 billion, a P/E ratio of 366.49, a P/E/G ratio of 1.75 and a beta of 0.85.
Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Monday, February 24th. The medical instruments supplier reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. Merit Medical Systems had a net margin of 0.55% and a return on equity of 8.67%. The firm had revenue of $257.92 million for the quarter, compared to analyst estimates of $252.31 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. Merit Medical Systems’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, research analysts predict that Merit Medical Systems, Inc. will post 1.56 earnings per share for the current fiscal year.
MMSI has been the subject of several research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $50.00 target price (up previously from $42.00) on shares of Merit Medical Systems in a research report on Tuesday, February 25th. Needham & Company LLC reiterated a “hold” rating on shares of Merit Medical Systems in a research note on Wednesday, February 26th. Raymond James lifted their price target on Merit Medical Systems from $43.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. BidaskClub lowered Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, January 24th. Finally, Oppenheimer upped their price objective on Merit Medical Systems from to in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $44.50.
In other news, Director Franklin J. Miller sold 15,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $38.07, for a total transaction of $571,050.00. Following the completion of the transaction, the director now owns 17,334 shares in the company, valued at $659,905.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director A Scott Anderson sold 6,638 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $37.29, for a total transaction of $247,531.02. Following the transaction, the director now owns 11,400 shares of the company’s stock, valued at approximately $425,106. The disclosure for this sale can be found here. Insiders have sold 23,969 shares of company stock valued at $900,749 over the last ninety days. Corporate insiders own 4.75% of the company’s stock.
Merit Medical Systems Profile
Merit Medical Systems, Inc manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.
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