Merit Medical Systems, Inc. $MMSI Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 51.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,513 shares of the medical instruments supplier’s stock after selling 8,856 shares during the period. Maryland State Retirement & Pension System’s holdings in Merit Medical Systems were worth $709,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Ameritas Investment Partners Inc. grew its stake in shares of Merit Medical Systems by 2.2% during the second quarter. Ameritas Investment Partners Inc. now owns 5,973 shares of the medical instruments supplier’s stock worth $558,000 after purchasing an additional 131 shares in the last quarter. Norden Group LLC boosted its position in shares of Merit Medical Systems by 5.7% during the 3rd quarter. Norden Group LLC now owns 2,536 shares of the medical instruments supplier’s stock worth $211,000 after acquiring an additional 137 shares in the last quarter. Bryn Mawr Trust Advisors LLC increased its holdings in shares of Merit Medical Systems by 7.2% in the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 2,225 shares of the medical instruments supplier’s stock valued at $208,000 after acquiring an additional 149 shares during the last quarter. Hilltop National Bank raised its position in shares of Merit Medical Systems by 8.7% during the 3rd quarter. Hilltop National Bank now owns 2,119 shares of the medical instruments supplier’s stock worth $176,000 after acquiring an additional 169 shares in the last quarter. Finally, Significant Wealth Partners LLC raised its position in shares of Merit Medical Systems by 3.6% during the 2nd quarter. Significant Wealth Partners LLC now owns 4,898 shares of the medical instruments supplier’s stock worth $458,000 after acquiring an additional 171 shares in the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MMSI shares. Canaccord Genuity Group upped their price target on Merit Medical Systems from $93.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Robert W. Baird set a $108.00 target price on shares of Merit Medical Systems in a report on Tuesday, December 16th. Zacks Research downgraded shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Needham & Company LLC reiterated a “buy” rating and set a $108.00 price target on shares of Merit Medical Systems in a research note on Friday, January 9th. Finally, Wells Fargo & Company reduced their price target on shares of Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday, November 14th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.88.

Merit Medical Systems Stock Performance

Shares of Merit Medical Systems stock opened at $83.45 on Thursday. The firm’s fifty day simple moving average is $86.10 and its 200-day simple moving average is $85.94. Merit Medical Systems, Inc. has a 12 month low of $78.12 and a 12 month high of $111.45. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 42.79, a PEG ratio of 2.22 and a beta of 0.62. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.28 and a quick ratio of 2.86.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.10. The company had revenue of $384.16 million for the quarter, compared to the consensus estimate of $371.69 million. Merit Medical Systems had a net margin of 8.02% and a return on equity of 14.27%. Merit Medical Systems’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. As a group, equities analysts forecast that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Insider Activity

In related news, Chairman Fred P. Lampropoulos sold 25,000 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $87.31, for a total value of $2,182,750.00. Following the transaction, the chairman owned 1,029,955 shares in the company, valued at $89,925,371.05. The trade was a 2.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 60,000 shares of company stock worth $5,189,900 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Merit Medical Systems Company 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.