California Public Employees Retirement System Has $14.16 Million Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

California Public Employees Retirement System grew its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 11.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 146,393 shares of the medical instruments supplier’s stock after buying an additional 15,026 shares during the quarter. California Public Employees Retirement System’s holdings in Merit Medical Systems were worth $14,159,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. NewSquare Capital LLC bought a new stake in Merit Medical Systems during the 4th quarter worth approximately $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in Merit Medical Systems in the fourth quarter worth $52,000. Smartleaf Asset Management LLC increased its stake in shares of Merit Medical Systems by 237.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock valued at $134,000 after buying an additional 977 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Merit Medical Systems by 14.7% in the fourth quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier’s stock valued at $144,000 after buying an additional 191 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of Merit Medical Systems by 13.9% in the third quarter. TD Private Client Wealth LLC now owns 1,732 shares of the medical instruments supplier’s stock valued at $171,000 after buying an additional 211 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

Shares of MMSI opened at $92.50 on Friday. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The stock has a market cap of $5.44 billion, a P/E ratio of 45.34, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91. The stock’s 50-day moving average price is $104.19 and its two-hundred day moving average price is $101.22. Merit Medical Systems, Inc. has a 1 year low of $70.70 and a 1 year high of $111.45.

Wall Street Analysts Forecast Growth

MMSI has been the subject of several research reports. Raymond James raised their price objective on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 31st. Barrington Research lowered their price target on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Needham & Company LLC reduced their price objective on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Piper Sandler reissued an “overweight” rating and issued a $116.00 target price (up from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company cut their price target on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.70.

Insider Activity at Merit Medical Systems

In other news, CEO Fred P. Lampropoulos sold 31,320 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total value of $3,252,895.20. Following the completion of the transaction, the chief executive officer now owns 1,086,028 shares of the company’s stock, valued at $112,794,868.08. The trade was a 2.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Raul Jr. Parra sold 5,361 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $103.58, for a total value of $555,292.38. Following the sale, the chief financial officer now directly owns 24,201 shares in the company, valued at $2,506,739.58. The trade was a 18.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,132 shares of company stock worth $11,139,521. 3.70% of the stock is currently owned by company insiders.

Merit Medical Systems 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.