California Public Employees Retirement System Reduces Stock Position in Merit Medical Systems, Inc. $MMSI

California Public Employees Retirement System cut its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 20.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,450 shares of the medical instruments supplier’s stock after selling 24,733 shares during the quarter. California Public Employees Retirement System’s holdings in Merit Medical Systems were worth $6,442,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Angeles Wealth Management LLC grew its position in Merit Medical Systems by 51.3% in the 1st quarter. Angeles Wealth Management LLC now owns 3,709 shares of the medical instruments supplier’s stock worth $256,000 after purchasing an additional 1,258 shares during the period. Illinois Municipal Retirement Fund boosted its stake in shares of Merit Medical Systems by 2.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 33,206 shares of the medical instruments supplier’s stock worth $2,289,000 after buying an additional 746 shares during the last quarter. Bryn Mawr Trust Advisors LLC bought a new stake in shares of Merit Medical Systems in the first quarter worth $230,000. Principal Financial Group Inc. grew its holdings in shares of Merit Medical Systems by 4.6% in the first quarter. Principal Financial Group Inc. now owns 346,748 shares of the medical instruments supplier’s stock worth $23,901,000 after acquiring an additional 15,144 shares during the period. Finally, Fifth Third Bancorp increased its position in Merit Medical Systems by 24,625.6% during the first quarter. Fifth Third Bancorp now owns 313,026 shares of the medical instruments supplier’s stock valued at $21,577,000 after acquiring an additional 311,760 shares during the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Price Performance

NASDAQ MMSI opened at $74.32 on Monday. The business’s fifty day moving average is $68.19 and its 200 day moving average is $72.01. Merit Medical Systems, Inc. has a fifty-two week low of $59.74 and a fifty-two week high of $94.75. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.46 and a current ratio of 5.08. The company has a market capitalization of $4.43 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 2.31 and a beta of 0.52.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Thursday, April 30th. The medical instruments supplier reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.10. Merit Medical Systems had a return on equity of 13.54% and a net margin of 9.03%.The business had revenue of $381.88 million during the quarter, compared to analysts’ expectations of $377.59 million. During the same quarter in the prior year, the business posted $0.86 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. 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 year.

Insider Buying and Selling

In other Merit Medical Systems news, Director Lynne N. Ward sold 5,000 shares of Merit Medical Systems stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $62.61, for a total transaction of $313,050.00. Following the transaction, the director owned 7,809 shares of the company’s stock, valued at $488,921.49. The trade was a 39.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian G. Lloyd purchased 2,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was purchased at an average price of $62.62 per share, with a total value of $125,240.00. Following the completion of the transaction, the insider owned 2,000 shares of the company’s stock, valued at approximately $125,240. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

MMSI has been the topic of a number of recent research reports. Citigroup reissued an “outperform” rating on shares of Merit Medical Systems in a report on Monday, April 20th. Needham & Company LLC reduced their price target on shares of 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. Weiss Ratings cut shares of Merit Medical Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Robert W. Baird set a $83.00 price objective on shares of Merit Medical Systems in a report on Friday, May 1st. Finally, Wells Fargo & Company cut their target price on shares of Merit Medical Systems from $78.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.80.

Merit Medical Systems 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.