Texas Permanent School Fund Acquires 3,954 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Texas Permanent School Fund grew its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI – Get Rating) by 10.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,825 shares of the medical instruments supplier’s stock after acquiring an additional 3,954 shares during the quarter. Texas Permanent School Fund owned 0.07% of Merit Medical Systems worth $2,307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Lindbrook Capital LLC lifted its position in Merit Medical Systems by 148.4% in the second quarter. Lindbrook Capital LLC now owns 477 shares of the medical instruments supplier’s stock worth $26,000 after purchasing an additional 285 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in Merit Medical Systems in the second quarter worth $37,000. Quantbot Technologies LP bought a new position in Merit Medical Systems in the first quarter worth $43,000. First Horizon Advisors Inc. lifted its position in Merit Medical Systems by 56.2% in the second quarter. First Horizon Advisors Inc. now owns 1,287 shares of the medical instruments supplier’s stock worth $70,000 after purchasing an additional 463 shares during the period. Finally, Eagle Bay Advisors LLC lifted its position in Merit Medical Systems by 87.0% in the second quarter. Eagle Bay Advisors LLC now owns 1,870 shares of the medical instruments supplier’s stock worth $101,000 after purchasing an additional 870 shares during the period. 95.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MMSI. Piper Sandler raised their target price on Merit Medical Systems from $70.00 to $73.00 in a research report on Thursday, October 27th. Canaccord Genuity Group cut Merit Medical Systems from a “buy” rating to a “hold” rating and cut their price objective for the company from $73.00 to $72.00 in a report on Tuesday, December 20th. Raymond James lifted their price objective on Merit Medical Systems from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 27th. TheStreet raised Merit Medical Systems from a “c+” rating to a “b-” rating in a report on Friday, September 16th. Finally, StockNews.com raised Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 3rd. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $73.50.

Merit Medical Systems Stock Performance

Shares of NASDAQ:MMSI opened at $69.54 on Tuesday. Merit Medical Systems, Inc. has a twelve month low of $50.46 and a twelve month high of $76.14. The firm has a market cap of $3.96 billion, a PE ratio of 64.39, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.19 and a current ratio of 2.35. The business has a fifty day moving average of $70.51 and a 200-day moving average of $62.24.

Merit Medical Systems (NASDAQ:MMSI – Get Rating) last announced its earnings results on Wednesday, October 26th. The medical instruments supplier reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.11. Merit Medical Systems had a return on equity of 14.14% and a net margin of 5.43%. The company had revenue of $287.18 million during the quarter, compared to analyst estimates of $273.03 million. On average, equities research analysts predict that Merit Medical Systems, Inc. will post 2.57 EPS for the current fiscal year.

Merit Medical Systems Company Profile

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Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. The company operates in two segments, Cardiovascular and Endoscopy.