Merit Medical Systems, Inc. (NASDAQ:MMSI) Stake Lessened by California State Teachers Retirement System

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California State Teachers Retirement System lowered its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,627 shares of the medical instruments supplier’s stock after selling 1,978 shares during the quarter. California State Teachers Retirement System’s holdings in Merit Medical Systems were worth $5,047,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MMSI. D.A. Davidson & CO. acquired a new stake in shares of Merit Medical Systems during the fourth quarter valued at approximately $227,000. Rhumbline Advisers raised its holdings in shares of Merit Medical Systems by 23.0% during the fourth quarter. Rhumbline Advisers now owns 153,059 shares of the medical instruments supplier’s stock valued at $8,542,000 after acquiring an additional 28,585 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Merit Medical Systems during the fourth quarter valued at approximately $36,000. Financial Gravity Companies Inc. acquired a new stake in shares of Merit Medical Systems during the fourth quarter valued at approximately $43,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Merit Medical Systems during the fourth quarter valued at approximately $409,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

A number of equities research analysts have recently issued reports on MMSI shares. Zacks Investment Research lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Tuesday, February 26th. BidaskClub lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Needham & Company LLC restated a “buy” rating on shares of Merit Medical Systems in a report on Thursday, April 25th. Finally, ValuEngine lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Merit Medical Systems has a consensus rating of “Buy” and a consensus price target of $68.89.

Merit Medical Systems stock opened at $56.23 on Thursday. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 33.27, a P/E/G ratio of 2.35 and a beta of 1.06. The company has a current ratio of 2.36, a quick ratio of 1.25 and a debt-to-equity ratio of 0.39. Merit Medical Systems, Inc. has a twelve month low of $48.51 and a twelve month high of $66.34.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Tuesday, April 23rd. The medical instruments supplier reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The firm had revenue of $238.35 million for the quarter, compared to analyst estimates of $236.53 million. Merit Medical Systems had a net margin of 4.68% and a return on equity of 10.99%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. Equities research analysts forecast that Merit Medical Systems, Inc. will post 2.02 earnings per share for the current year.

In other Merit Medical Systems news, Director Kent W. Stanger sold 1,216 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $60.54, for a total value of $73,616.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Raul Jr. Parra sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $57.11, for a total transaction of $114,220.00. Following the completion of the transaction, the chief financial officer now owns 2,000 shares in the company, valued at approximately $114,220. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,216 shares of company stock worth $489,537. Company insiders own 4.75% of the company’s stock.

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Merit Medical Systems Company Profile

Merit Medical Systems, Inc manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.

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Institutional Ownership by Quarter for Merit Medical Systems (NASDAQ:MMSI)

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