California Public Employees Retirement System Has $14.16 Million Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

California Public Employees Retirement System boosted its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 146,393 shares of the medical instruments supplier’s stock after acquiring an additional 15,026 shares during the quarter. California Public Employees Retirement System owned approximately 0.25% of Merit Medical Systems worth $14,159,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MMSI. NewSquare Capital LLC bought a new position in shares of Merit Medical Systems during the 4th quarter valued at $32,000. Kohmann Bosshard Financial Services LLC bought a new position in Merit Medical Systems during the fourth quarter valued at about $52,000. Smartleaf Asset Management LLC lifted its position in shares of Merit Medical Systems by 237.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock worth $134,000 after buying an additional 977 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Merit Medical Systems by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock worth $144,000 after acquiring an additional 191 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in shares of Merit Medical Systems by 13.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,732 shares of the medical instruments supplier’s stock valued at $171,000 after acquiring an additional 211 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Merit Medical Systems news, Director Stephen C. Evans sold 5,000 shares of Merit Medical Systems stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the sale, the director now directly owns 4,657 shares of the company’s stock, valued at approximately $490,428.67. The trade was a 51.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $103.86, for a total value of $3,252,895.20. Following the completion of the transaction, the chief executive officer now directly owns 1,086,028 shares of the company’s stock, valued at approximately $112,794,868.08. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,132 shares of company stock worth $11,139,521. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MMSI shares. JPMorgan Chase & Co. assumed coverage on Merit Medical Systems in a research report on Friday, March 28th. They set an “overweight” rating and a $120.00 target price for the company. Canaccord Genuity Group decreased their price objective on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Barrington Research cut their target price on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their price target on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Piper Sandler reissued an “overweight” rating and set a $116.00 price objective (up previously from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $111.70.

Merit Medical Systems Stock Performance

Shares of NASDAQ MMSI opened at $92.50 on Friday. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 45.34, a PEG ratio of 2.34 and a beta of 0.91. Merit Medical Systems, Inc. has a one year low of $70.70 and a one year high of $111.45. The business has a fifty day simple moving average of $104.19 and a 200 day simple moving average of $101.22. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57.

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.