Texas Permanent School Fund cut its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI – Get Rating) by 6.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,266 shares of the medical instruments supplier’s stock after selling 2,559 shares during the period. Texas Permanent School Fund owned 0.07% of Merit Medical Systems worth $2,702,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of MMSI. BlackRock Inc. raised its position in Merit Medical Systems by 6.8% during the 3rd quarter. BlackRock Inc. now owns 9,704,654 shares of the medical instruments supplier’s stock worth $548,409,000 after buying an additional 617,129 shares during the last quarter. Vanguard Group Inc. raised its position in Merit Medical Systems by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,700,655 shares of the medical instruments supplier’s stock worth $378,653,000 after buying an additional 377,858 shares during the last quarter. State Street Corp raised its position in Merit Medical Systems by 5.9% during the 3rd quarter. State Street Corp now owns 2,038,184 shares of the medical instruments supplier’s stock worth $115,178,000 after buying an additional 112,986 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Merit Medical Systems by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,495,948 shares of the medical instruments supplier’s stock worth $84,537,000 after buying an additional 4,165 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in Merit Medical Systems by 1.7% during the 3rd quarter. Macquarie Group Ltd. now owns 1,419,176 shares of the medical instruments supplier’s stock worth $80,252,000 after buying an additional 24,343 shares during the last quarter. 95.38% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Merit Medical Systems
In other Merit Medical Systems news, CFO Raul Jr. Parra sold 1,023 shares of Merit Medical Systems stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $70.00, for a total transaction of $71,610.00. Following the sale, the chief financial officer now owns 6,688 shares of the company’s stock, valued at approximately $468,160. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Merit Medical Systems news, CFO Raul Jr. Parra sold 1,023 shares of Merit Medical Systems stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $70.00, for a total transaction of $71,610.00. Following the sale, the chief financial officer now owns 6,688 shares of the company’s stock, valued at approximately $468,160. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Neil Peterson sold 8,000 shares of Merit Medical Systems stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $68.75, for a total transaction of $550,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,068 shares of company stock valued at $4,341,157. 3.80% of the stock is owned by company insiders.
Merit Medical Systems Price Performance
Merit Medical Systems (NASDAQ:MMSI – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. Merit Medical Systems had a net margin of 7.22% and a return on equity of 14.55%. The firm had revenue of $297.57 million for the quarter, compared to analysts’ expectations of $280.47 million. During the same quarter last year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Merit Medical Systems, Inc. will post 2.89 earnings per share for the current fiscal year.
Analysts Set New Price Targets
MMSI has been the subject of a number of recent research reports. Raymond James raised their price target on shares of Merit Medical Systems from $88.00 to $93.00 in a research report on Monday. Piper Sandler raised their price target on shares of Merit Medical Systems from $77.00 to $85.00 in a research report on Thursday, April 27th. Wells Fargo & Company lifted their target price on shares of Merit Medical Systems from $74.00 to $81.00 in a report on Thursday, April 27th. StockNews.com lowered shares of Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Monday, April 24th. Finally, Needham & Company LLC lifted their target price on shares of Merit Medical Systems from $84.00 to $90.00 in a report on Thursday, April 27th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.43.
Merit Medical Systems Company Profile
Merit Medical Systems, Inc engages in the manufacture and marketing of proprietary disposable medical devices. It operates through the Cardiovascular and Endoscopy segments. The Cardiovascular segment consists of peripheral intervention, cardiac intervention, interventional oncology and spine, and cardiovascular and critical care product groups.
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