Texas Permanent School Fund Corp Has $4.44 Million Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Texas Permanent School Fund Corp raised its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,594 shares of the medical instruments supplier’s stock after buying an additional 1,052 shares during the quarter. Texas Permanent School Fund Corp owned 0.09% of Merit Medical Systems worth $4,435,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Congress Asset Management Co. MA raised its holdings in shares of Merit Medical Systems by 4,411.3% during the first quarter. Congress Asset Management Co. MA now owns 518,485 shares of the medical instruments supplier’s stock valued at $39,275,000 after acquiring an additional 506,992 shares during the period. Norges Bank acquired a new stake in Merit Medical Systems during the 4th quarter valued at $38,165,000. The Manufacturers Life Insurance Company raised its stake in Merit Medical Systems by 818.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 278,452 shares of the medical instruments supplier’s stock valued at $21,151,000 after purchasing an additional 248,140 shares during the period. F M Investments LLC purchased a new stake in shares of Merit Medical Systems in the second quarter valued at $12,550,000. Finally, Westwood Holdings Group Inc. boosted its position in shares of Merit Medical Systems by 17.6% in the first quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock worth $66,685,000 after buying an additional 131,977 shares during the period. 99.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the sale, the director now directly owns 32,391 shares in the company, valued at $2,753,235. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.70% of the company’s stock.

Merit Medical Systems Stock Up 0.2 %

MMSI stock opened at $96.16 on Friday. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. The firm has a market cap of $5.60 billion, a PE ratio of 55.26, a PEG ratio of 2.53 and a beta of 0.87. Merit Medical Systems, Inc. has a 1 year low of $62.58 and a 1 year high of $98.04. The company has a fifty day simple moving average of $90.42 and a 200 day simple moving average of $82.36.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The company had revenue of $338.00 million during the quarter, compared to analysts’ expectations of $334.94 million. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. Sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MMSI. Piper Sandler reissued an “overweight” rating and set a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. StockNews.com upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Robert W. Baird initiated coverage on shares of Merit Medical Systems in a research report on Friday, June 28th. They set an “outperform” rating and a $96.00 price objective on the stock. Barrington Research reiterated an “outperform” rating and issued a $100.00 target price on shares of Merit Medical Systems in a research report on Tuesday, July 16th. Finally, Needham & Company LLC boosted their price target on shares of Merit Medical Systems from $94.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $99.20.

About Merit Medical Systems

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.