Teacher Retirement System of Texas Has $1.56 Million Stock Position in Merit Medical Systems, Inc. $MMSI

Teacher Retirement System of Texas cut its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 11.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,690 shares of the medical instruments supplier’s stock after selling 2,085 shares during the quarter. Teacher Retirement System of Texas’ holdings in Merit Medical Systems were worth $1,560,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Maseco LLP purchased a new stake in shares of Merit Medical Systems in the second quarter worth approximately $28,000. IFP Advisors Inc raised its stake in shares of Merit Medical Systems by 1,435.0% in the first 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. MassMutual Private Wealth & Trust FSB raised its stake in shares of Merit Medical Systems by 55.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock worth $35,000 after purchasing an additional 134 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of 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. Finally, Bayforest Capital Ltd purchased a new stake in shares of Merit Medical Systems in the first quarter valued at about $41,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Merit Medical Systems news, Director Lynne N. Ward sold 3,000 shares of the stock in a transaction on 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 directly owned 12,809 shares of the company’s stock, valued at approximately $1,134,365.04. This represents a 18.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

MMSI has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $108.00 target price on shares of Merit Medical Systems in a report on Friday, October 31st. Zacks Research upgraded shares of Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Wells Fargo & Company reduced their target price on Merit Medical Systems from $108.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Merit Medical Systems in a report on Wednesday, October 8th. Finally, Barrington Research upped their target price on Merit Medical Systems from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Friday. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $106.50.

Merit Medical Systems Stock Performance

MMSI stock opened at $88.47 on Wednesday. The firm has a market cap of $5.24 billion, a PE ratio of 44.91, a P/E/G ratio of 2.62 and a beta of 0.58. The company has a quick ratio of 2.66, a current ratio of 4.09 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average of $84.83 and a 200-day moving average of $89.15. Merit Medical Systems, Inc. has a 12-month low of $78.12 and a 12-month 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 (EPS) 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 company had revenue of $384.20 million during the quarter, compared to analyst estimates of $371.69 million. During the same period in the prior year, the company posted $0.86 earnings per share. Merit Medical Systems’s quarterly revenue was up 13.0% on a year-over-year basis. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. As a group, sell-side analysts expect that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current 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.