Louisiana State Employees Retirement System Cuts Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Louisiana State Employees Retirement System cut its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 3.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 28,100 shares of the medical instruments supplier’s stock after selling 1,100 shares during the period. Louisiana State Employees Retirement System’s holdings in Merit Medical Systems were worth $2,777,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MMSI. Diversified Trust Co raised its position in shares of Merit Medical Systems by 5.4% during the 1st quarter. Diversified Trust Co now owns 11,293 shares of the medical instruments supplier’s stock worth $855,000 after purchasing an additional 577 shares during the last quarter. Congress Wealth Management LLC DE acquired a new position in shares of Merit Medical Systems during the first quarter valued at approximately $5,502,000. AlphaMark Advisors LLC acquired a new position in shares of Merit Medical Systems during the first quarter valued at approximately $304,000. Norden Group LLC purchased a new position in shares of Merit Medical Systems in the first quarter valued at approximately $293,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Merit Medical Systems in the first quarter worth approximately $336,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Price Performance

MMSI stock opened at $96.00 on Monday. Merit Medical Systems, Inc. has a 52-week low of $63.13 and a 52-week high of $101.60. The business has a fifty day moving average of $96.11 and a two-hundred day moving average of $87.15. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 48.00, a price-to-earnings-growth ratio of 2.41 and a beta of 0.87. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The firm had revenue of $338.00 million for the quarter, compared to analyst estimates of $334.94 million. As a group, research analysts anticipate that Merit Medical Systems, Inc. will post 3.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on MMSI shares. Piper Sandler reissued an “overweight” rating and issued a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Canaccord Genuity Group raised their price target on shares of Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Barrington Research reaffirmed an “outperform” rating and set a $114.00 price objective on shares of Merit Medical Systems in a research note on Friday, October 18th. Wells Fargo & Company raised 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 note on Monday, September 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $105.00 price target on shares of Merit Medical Systems in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Merit Medical Systems currently has an average rating of “Moderate Buy” and an average target price of $101.82.

Merit Medical Systems Profile

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.