California Public Employees Retirement System Trims Stake in Merit Medical Systems, Inc. $MMSI

California Public Employees Retirement System reduced its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 20.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,450 shares of the medical instruments supplier’s stock after selling 24,733 shares during the period. California Public Employees Retirement System owned 0.16% of Merit Medical Systems worth $6,442,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Los Angeles Capital Management LLC bought a new position in shares of Merit Medical Systems in the 4th quarter worth approximately $25,000. Maseco LLP purchased a new position in shares of Merit Medical Systems in the 4th quarter valued at approximately $26,000. Torren Management LLC bought a new stake in shares of Merit Medical Systems during the fourth quarter valued at approximately $38,000. Covestor Ltd grew its stake in Merit Medical Systems by 252.6% in the fourth quarter. Covestor Ltd now owns 469 shares of the medical instruments supplier’s stock worth $41,000 after purchasing an additional 336 shares during the period. Finally, Danske Bank A S purchased a new stake in Merit Medical Systems in the third quarter worth $42,000. 99.66% of the stock is owned by institutional investors.

Merit Medical Systems Price Performance

MMSI opened at $74.32 on Monday. The firm has a market cap of $4.43 billion, a PE ratio of 32.17, a P/E/G ratio of 2.31 and a beta of 0.52. The stock has a 50-day moving average price of $68.19 and a 200-day moving average price of $72.01. Merit Medical Systems, Inc. has a 1 year low of $59.74 and a 1 year high of $94.75. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.08 and a quick ratio of 3.46.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $0.94 EPS for the quarter, beating the consensus estimate of $0.84 by $0.10. The company had revenue of $381.88 million for the quarter, compared to the consensus estimate of $377.59 million. Merit Medical Systems had a net margin of 9.03% and a return on equity of 13.54%. Merit Medical Systems’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. Sell-side analysts predict that Merit Medical Systems, Inc. will post 3.62 earnings per share for the current fiscal year.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, Director Lynne N. Ward sold 5,000 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $62.61, for a total transaction of $313,050.00. Following the sale, the director directly owned 7,809 shares in the company, valued at approximately $488,921.49. This trade represents a 39.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian G. Lloyd bought 2,000 shares of Merit Medical Systems stock in a transaction on Thursday, May 7th. The stock was acquired at an average cost of $62.62 per share, with a total value of $125,240.00. Following the acquisition, the insider owned 2,000 shares in the company, valued at approximately $125,240. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MMSI has been the subject of several recent research reports. Needham & Company LLC lowered their price objective on Merit Medical Systems from $101.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, May 1st. JPMorgan Chase & Co. decreased their price target on shares of Merit Medical Systems from $95.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Weiss Ratings cut shares of Merit Medical Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Wells Fargo & Company dropped their price objective on shares of Merit Medical Systems from $78.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Finally, Robert W. Baird set a $83.00 price objective on shares of Merit Medical Systems in a report on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.80.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc is a global manufacturer and marketer of a broad range of medical devices used in diagnostic and interventional procedures. The company’s product portfolio encompasses vascular access, drainage, embolotherapy, and interventional oncology devices, as well as radiofrequency ablation systems and hemostasis solutions. These products serve physicians and hospitals in critical care settings and support minimally invasive treatment options across multiple specialties, including cardiology, radiology, oncology, neurology and endoscopy.

Founded in 1987 by Fred Lampropoulos, Merit Medical Systems has grown through both organic development and targeted acquisitions to expand its technology offerings and geographic reach.