New York State Common Retirement Fund Has $16.54 Million Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

New York State Common Retirement Fund cut its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 21.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,395 shares of the medical instruments supplier’s stock after selling 45,721 shares during the period. New York State Common Retirement Fund owned 0.29% of Merit Medical Systems worth $16,544,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Congress Asset Management Co. grew its stake in shares of Merit Medical Systems by 2.7% in the 3rd quarter. Congress Asset Management Co. now owns 589,976 shares of the medical instruments supplier’s stock valued at $58,307,000 after buying an additional 15,534 shares during the period. Smith Group Asset Management LLC acquired a new stake in shares of Merit Medical Systems in the 3rd quarter valued at about $550,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Merit Medical Systems in the 3rd quarter valued at about $325,000. CWC Advisors LLC. acquired a new stake in shares of Merit Medical Systems in the 3rd quarter valued at about $437,000. Finally, Silver Oak Securities Incorporated acquired a new stake in shares of Merit Medical Systems in the 3rd quarter valued at about $405,000. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Merit Medical Systems Trading Down 0.3 %

NASDAQ:MMSI opened at $98.79 on Wednesday. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $5.76 billion, a PE ratio of 48.43, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89. The firm’s 50 day moving average is $96.82 and its 200 day moving average is $88.50. Merit Medical Systems, Inc. has a 12 month low of $65.46 and a 12 month high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $339.85 million for the quarter, compared to analysts’ expectations of $334.60 million. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. Merit Medical Systems’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS. Sell-side analysts expect that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MMSI. Needham & Company LLC restated a “buy” rating and issued a $109.00 target price on shares of Merit Medical Systems in a research note on Thursday, October 31st. StockNews.com cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Barrington Research reissued an “outperform” rating and set a $114.00 target price on shares of Merit Medical Systems in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their target price on shares of 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 analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Merit Medical Systems has an average rating of “Moderate Buy” and an average target price of $103.36.

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.