State of New Jersey Common Pension Fund D Has $2.06 Million Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

State of New Jersey Common Pension Fund D reduced its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 32.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,994 shares of the medical instruments supplier’s stock after selling 11,487 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Merit Medical Systems were worth $2,062,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Opal Wealth Advisors LLC acquired a new stake in shares of Merit Medical Systems during the 2nd quarter worth approximately $29,000. Parallel Advisors LLC boosted its stake in Merit Medical Systems by 114.6% during the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 212 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Merit Medical Systems in the 1st quarter valued at $44,000. Headlands Technologies LLC acquired a new position in shares of Merit Medical Systems in the 1st quarter valued at $50,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Merit Medical Systems by 142.3% during the 2nd quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier’s stock worth $71,000 after acquiring an additional 488 shares during the period. 99.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 32,391 shares of the company’s stock, valued at $2,753,235. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Merit Medical Systems Price Performance

Shares of MMSI stock opened at $99.56 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 capitalization of $5.79 billion, a price-to-earnings ratio of 57.22, a PEG ratio of 2.53 and a beta of 0.87. The firm’s 50 day moving average is $91.73 and its 200-day moving average is $83.10. Merit Medical Systems, Inc. has a 1 year low of $62.58 and a 1 year high of $101.25.

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

Analyst Ratings Changes

Several research analysts recently issued reports on MMSI shares. Needham & Company LLC reissued a “buy” rating and issued a $105.00 price target on shares of Merit Medical Systems in a research report on Monday, September 16th. Bank of America increased their target price on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Canaccord Genuity Group boosted their price target on Merit Medical Systems from $102.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Barrington Research lifted their price objective on Merit Medical Systems from $100.00 to $114.00 and gave the company an “outperform” rating in a report on Friday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.82.

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.