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

State of New Jersey Common Pension Fund D lessened its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 32.4% in the 2nd quarter, Holdings Channel reports. The firm owned 23,994 shares of the medical instruments supplier’s stock after selling 11,487 shares during the period. 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.

Other hedge funds also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Merit Medical Systems during the second quarter worth about $29,000. Parallel Advisors LLC increased its stake in Merit Medical Systems by 114.6% during the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 212 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Merit Medical Systems during the 1st quarter worth approximately $44,000. Headlands Technologies LLC bought a new position in Merit Medical Systems in the first quarter valued at approximately $50,000. Finally, EntryPoint Capital LLC boosted its holdings in shares of Merit Medical Systems by 2,666.7% in the first quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock valued at $69,000 after buying an additional 880 shares during the period. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Merit Medical Systems Trading Down 0.7 %

Shares of NASDAQ:MMSI opened at $99.56 on Friday. Merit Medical Systems, Inc. has a 52-week low of $62.58 and a 52-week high of $101.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24. The company has a market capitalization of $5.79 billion, a P/E ratio of 57.22, a price-to-earnings-growth ratio of 2.53 and a beta of 0.87. The company has a 50-day simple moving average of $91.73 and a 200 day simple moving average of $83.10.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, topping 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 the consensus estimate of $334.94 million. Sell-side analysts forecast that Merit Medical Systems, Inc. will post 3.31 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Robert W. Baird initiated coverage on shares of Merit Medical Systems in a report on Friday, June 28th. They set an “outperform” rating and a $96.00 price objective on the stock. Baird R W raised Merit Medical Systems to a “strong-buy” rating in a research report on Friday, June 28th. Piper Sandler reiterated an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Bank of America boosted their target price on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.82.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the stock in a transaction dated 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 approximately $2,753,235. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Merit Medical Systems Company Profile

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.