State of New Jersey Common Pension Fund D Lowers Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

State of New Jersey Common Pension Fund D trimmed its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 20,761 shares of the medical instruments supplier’s stock after selling 552 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Merit Medical Systems were worth $2,008,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Principal Securities Inc. boosted its position in shares of Merit Medical Systems by 28.0% during the 4th quarter. Principal Securities Inc. now owns 2,342 shares of the medical instruments supplier’s stock worth $227,000 after purchasing an additional 513 shares during the period. Congress Asset Management Co. boosted its position in shares of Merit Medical Systems by 1.8% during the fourth quarter. Congress Asset Management Co. now owns 600,686 shares of the medical instruments supplier’s stock worth $58,098,000 after buying an additional 10,710 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Merit Medical Systems by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier’s stock worth $2,728,000 after buying an additional 100 shares during the period. EULAV Asset Management boosted its position in shares of Merit Medical Systems by 400.0% during the fourth quarter. EULAV Asset Management now owns 115,000 shares of the medical instruments supplier’s stock worth $11,123,000 after buying an additional 92,000 shares during the period. Finally, Silver Oak Securities Incorporated boosted its holdings in Merit Medical Systems by 37.3% during the 4th quarter. Silver Oak Securities Incorporated now owns 5,686 shares of the medical instruments supplier’s stock valued at $549,000 after acquiring an additional 1,544 shares during the period. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Merit Medical Systems Stock Performance

Shares of Merit Medical Systems stock opened at $103.16 on Monday. The firm has a market capitalization of $6.01 billion, a P/E ratio of 50.57, a P/E/G ratio of 2.34 and a beta of 0.87. Merit Medical Systems, Inc. has a 52 week low of $70.70 and a 52 week high of $111.45. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average is $102.64 and its two-hundred day moving average is $99.64.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Robert W. Baird raised their target price on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC boosted their price target on shares of Merit Medical Systems from $109.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Raymond James boosted their target price on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $116.00 price target (up previously from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.80.

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.