State of New Jersey Common Pension Fund D Buys 1,114 Shares of Merit Medical Systems, Inc. $MMSI

State of New Jersey Common Pension Fund D boosted its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 6.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,803 shares of the medical instruments supplier’s stock after purchasing an additional 1,114 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Merit Medical Systems were worth $1,851,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMSI. Allspring Global Investments Holdings LLC boosted its position in shares of Merit Medical Systems by 7.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 66,870 shares of the medical instruments supplier’s stock valued at $7,051,000 after acquiring an additional 4,450 shares during the period. KBC Group NV boosted its position in shares of Merit Medical Systems by 18.8% in the first quarter. KBC Group NV now owns 2,691 shares of the medical instruments supplier’s stock valued at $284,000 after acquiring an additional 426 shares during the period. Principal Financial Group Inc. boosted its position in shares of Merit Medical Systems by 2.5% in the first quarter. Principal Financial Group Inc. now owns 319,960 shares of the medical instruments supplier’s stock valued at $33,823,000 after acquiring an additional 7,940 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Merit Medical Systems by 0.4% in the first quarter. Envestnet Asset Management Inc. now owns 231,907 shares of the medical instruments supplier’s stock valued at $24,515,000 after acquiring an additional 815 shares during the period. Finally, TD Private Client Wealth LLC boosted its position in shares of Merit Medical Systems by 22.3% in the first quarter. TD Private Client Wealth LLC now owns 2,119 shares of the medical instruments supplier’s stock valued at $224,000 after acquiring an additional 387 shares during the period. 99.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Merit Medical Systems news, Director Lynne N. Ward sold 3,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $88.56, for a total transaction of $265,680.00. Following the completion of the transaction, the director owned 12,809 shares of the company’s stock, valued at approximately $1,134,365.04. The trade was a 18.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

MMSI has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their target price on shares of Merit Medical Systems from $103.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $108.00 price objective on shares of Merit Medical Systems in a research report on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $109.00 price objective (up previously from $105.00) on shares of Merit Medical Systems in a research report on Friday. Zacks Research raised shares of Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Finally, Raymond James Financial cut their price objective on shares of Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $106.50.

Merit Medical Systems Stock Up 5.4%

Shares of NASDAQ MMSI opened at $87.54 on Friday. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 44.44, a PEG ratio of 2.62 and a beta of 0.58. Merit Medical Systems, Inc. has a 12 month low of $78.12 and a 12 month high of $111.45. The stock has a 50-day moving average price of $84.86 and a two-hundred day moving average price of $89.20.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 EPS for the quarter, topping the consensus estimate of $0.82 by $0.10. The firm had revenue of $384.20 million during the quarter, compared to the consensus estimate of $371.69 million. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 earnings per share. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. As a group, analysts forecast that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Merit Medical Systems Company 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.