Public Sector Pension Investment Board Increases Holdings in Merit Medical Systems, Inc. $MMSI

Public Sector Pension Investment Board lifted its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 14.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 230,947 shares of the medical instruments supplier’s stock after purchasing an additional 29,454 shares during the quarter. Public Sector Pension Investment Board owned 0.39% of Merit Medical Systems worth $19,222,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. State Street Corp increased its position in shares of Merit Medical Systems by 1.1% during the second quarter. State Street Corp now owns 2,218,432 shares of the medical instruments supplier’s stock valued at $207,379,000 after buying an additional 24,569 shares during the period. Geode Capital Management LLC grew its stake in Merit Medical Systems by 2.8% during the second quarter. Geode Capital Management LLC now owns 1,437,397 shares of the medical instruments supplier’s stock valued at $134,384,000 after acquiring an additional 39,620 shares in the last quarter. Maverick Capital Ltd. increased its holdings in Merit Medical Systems by 8.4% during the 2nd quarter. Maverick Capital Ltd. now owns 1,379,408 shares of the medical instruments supplier’s stock worth $128,947,000 after acquiring an additional 106,897 shares during the period. Franklin Resources Inc. increased its holdings in Merit Medical Systems by 25.9% during the 2nd quarter. Franklin Resources Inc. now owns 884,607 shares of the medical instruments supplier’s stock worth $82,693,000 after acquiring an additional 181,815 shares during the period. Finally, Westwood Holdings Group Inc. lifted its stake in Merit Medical Systems by 11.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 768,970 shares of the medical instruments supplier’s stock worth $71,883,000 after purchasing an additional 81,469 shares in the last quarter. Institutional investors own 99.66% of the company’s stock.

Insider Buying and Selling at Merit Medical Systems

In other news, Chairman Fred P. Lampropoulos sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $88.04, for a total value of $880,400.00. Following the completion of the sale, the chairman owned 1,019,955 shares of the company’s stock, valued at approximately $89,796,838.20. This represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 60,000 shares of company stock valued at $5,189,900. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MMSI shares. Piper Sandler reaffirmed an “overweight” rating and issued a $109.00 price target (up previously from $105.00) on shares of Merit Medical Systems in a report on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of Merit Medical Systems in a research note on Monday, December 29th. Zacks Research cut Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Wells Fargo & Company cut their price objective on Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating for the company in a report on Friday, November 14th. Finally, Robert W. Baird set a $108.00 target price on shares of Merit Medical Systems in a research note on Tuesday, December 16th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock opened at $81.66 on Friday. The firm has a market capitalization of $4.84 billion, a PE ratio of 41.88, a price-to-earnings-growth ratio of 2.14 and a beta of 0.61. The company has a current ratio of 4.28, a quick ratio of 2.86 and a debt-to-equity ratio of 0.48. Merit Medical Systems, Inc. has a 12 month low of $77.62 and a 12 month high of $110.10. The business’s 50-day moving average price is $84.56 and its 200-day moving average price is $85.09.

About Merit Medical Systems

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.