Public Sector Pension Investment Board Cuts Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

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Public Sector Pension Investment Board lowered its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 12.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 123,707 shares of the medical instruments supplier’s stock after selling 16,800 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.22% of Merit Medical Systems worth $3,862,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC raised its position in Merit Medical Systems by 1,878.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,088 shares of the medical instruments supplier’s stock valued at $33,000 after purchasing an additional 1,033 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Merit Medical Systems by 20,825.0% in the third quarter. Tower Research Capital LLC TRC now owns 1,674 shares of the medical instruments supplier’s stock worth $51,000 after purchasing an additional 1,666 shares during the last quarter. AlphaCrest Capital Management LLC bought a new stake in Merit Medical Systems in the 4th quarter worth approximately $266,000. ProShare Advisors LLC raised its stake in Merit Medical Systems by 17.1% during the fourth quarter. ProShare Advisors LLC now owns 8,782 shares of the medical instruments supplier’s stock valued at $274,000 after purchasing an additional 1,281 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Merit Medical Systems by 27.5% in the 4th quarter. Bank of Montreal Can now owns 9,038 shares of the medical instruments supplier’s stock valued at $282,000 after acquiring an additional 1,948 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

In related news, Director A Scott Anderson sold 6,638 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $37.29, for a total transaction of $247,531.02. Following the sale, the director now directly owns 11,400 shares in the company, valued at $425,106. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Franklin J. Miller sold 2,331 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $35.25, for a total transaction of $82,167.75. Following the completion of the sale, the director now directly owns 4,665 shares in the company, valued at approximately $164,441.25. The disclosure for this sale can be found here. Insiders have sold 23,969 shares of company stock worth $900,749 in the last three months. Corporate insiders own 4.75% of the company’s stock.

Merit Medical Systems stock traded down $0.03 during midday trading on Thursday, hitting $32.97. 38,056 shares of the stock were exchanged, compared to its average volume of 769,957. The company has a current ratio of 2.50, a quick ratio of 1.26 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 366.49, a PEG ratio of 1.75 and a beta of 0.85. The stock’s 50-day simple moving average is $36.35 and its 200 day simple moving average is $31.91. Merit Medical Systems, Inc. has a fifty-two week low of $19.50 and a fifty-two week high of $63.64.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Monday, February 24th. The medical instruments supplier reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. Merit Medical Systems had a net margin of 0.55% and a return on equity of 8.67%. The business had revenue of $257.92 million during the quarter, compared to analysts’ expectations of $252.31 million. During the same period last year, the business earned $0.48 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities analysts anticipate that Merit Medical Systems, Inc. will post 1.56 EPS for the current fiscal year.

A number of research analysts have recently commented on MMSI shares. Oppenheimer upped their price target on shares of Merit Medical Systems from to in a report on Friday, February 7th. BidaskClub cut Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 24th. Barrington Research downgraded Merit Medical Systems from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 25th. Needham & Company LLC reiterated a “hold” rating on shares of Merit Medical Systems in a research report on Wednesday, February 26th. Finally, Raymond James lifted their target price on shares of Merit Medical Systems from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $44.50.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.

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Institutional Ownership by Quarter for Merit Medical Systems (NASDAQ:MMSI)

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