Illinois Municipal Retirement Fund Buys 1,234 Shares of Merit Medical Systems, Inc. $MMSI

Illinois Municipal Retirement Fund increased its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 4.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,448 shares of the medical instruments supplier’s stock after acquiring an additional 1,234 shares during the period. Illinois Municipal Retirement Fund’s holdings in Merit Medical Systems were worth $2,940,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MMSI. Maseco LLP bought a new position in Merit Medical Systems during the second quarter valued at about $28,000. IFP Advisors Inc increased its stake in shares of Merit Medical Systems by 1,435.0% during the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 287 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Merit Medical Systems by 119.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Merit Medical Systems by 55.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 134 shares during the period. Finally, Bayforest Capital Ltd purchased a new stake in Merit Medical Systems in the first quarter worth $41,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Merit Medical Systems news, Director Lynne N. Ward sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $88.56, for a total value of $265,680.00. Following the completion of the sale, the director directly owned 12,809 shares in the company, valued at $1,134,365.04. This trade represents a 18.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is owned by insiders.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $87.40 on Friday. The company has a market capitalization of $5.18 billion, a P/E ratio of 44.37, a P/E/G ratio of 2.62 and a beta of 0.64. The firm’s 50 day simple moving average is $84.42 and its two-hundred day simple moving average is $88.96. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.09 and a quick ratio of 2.66. Merit Medical Systems, Inc. has a 1-year low of $78.12 and a 1-year high of $111.45.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.10. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.The firm had revenue of $384.16 million for the quarter, compared to the consensus estimate of $371.69 million. During the same quarter in the previous year, the company posted $0.86 EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. Research analysts expect that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Raymond James Financial decreased their price objective on Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Barrington Research upped their price target on shares of Merit Medical Systems from $103.00 to $106.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Piper Sandler reissued an “overweight” rating and set a $109.00 price objective (up previously from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st. Robert W. Baird set a $103.00 price objective on shares of Merit Medical Systems in a research report on Friday, October 31st. Finally, Canaccord Genuity Group lifted their price target on Merit Medical Systems from $103.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $106.50.

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.