California Public Employees Retirement System lifted its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 142,092 shares of the medical instruments supplier’s stock after acquiring an additional 7,892 shares during the period. California Public Employees Retirement System owned 0.28% of Merit Medical Systems worth $6,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Merit Medical Systems by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 4,374,628 shares of the medical instruments supplier’s stock valued at $166,893,000 after acquiring an additional 187,745 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Merit Medical Systems by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,694,722 shares of the medical instruments supplier’s stock valued at $102,803,000 after acquiring an additional 19,257 shares during the period. Janus Henderson Group PLC increased its position in shares of Merit Medical Systems by 922.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,533,513 shares of the medical instruments supplier’s stock valued at $58,504,000 after acquiring an additional 1,383,513 shares during the period. State Street Corp increased its position in shares of Merit Medical Systems by 9.9% in the 2nd quarter. State Street Corp now owns 1,339,547 shares of the medical instruments supplier’s stock valued at $51,105,000 after acquiring an additional 120,759 shares during the period. Finally, Macquarie Group Ltd. increased its position in shares of Merit Medical Systems by 12.2% in the 2nd quarter. Macquarie Group Ltd. now owns 1,122,457 shares of the medical instruments supplier’s stock valued at $42,822,000 after acquiring an additional 122,138 shares during the period. 90.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Merit Medical Systems, Inc. (NASDAQ MMSI) opened at $44.70 on Friday. Merit Medical Systems, Inc. has a 1-year low of $24.23 and a 1-year high of $46.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.78 and a quick ratio of 1.43. The company has a market cap of $2,258.95, a price-to-earnings ratio of 73.28, a price-to-earnings-growth ratio of 2.63 and a beta of 1.23.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.32 EPS for the quarter, beating the consensus estimate of $0.30 by $0.02. Merit Medical Systems had a net margin of 4.06% and a return on equity of 9.86%. The company had revenue of $179.30 million for the quarter, compared to analyst estimates of $181.28 million. During the same period in the prior year, the company earned $0.26 earnings per share. The firm’s revenue was up 14.2% on a year-over-year basis. equities research analysts anticipate that Merit Medical Systems, Inc. will post 1.27 EPS for the current year.

In other Merit Medical Systems news, Director Kent W. Stanger sold 9,082 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $44.90, for a total value of $407,781.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Franklin J. Miller sold 10,000 shares of the company’s stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $43.93, for a total transaction of $439,300.00. Following the completion of the sale, the director now directly owns 21,244 shares in the company, valued at $933,248.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,000 shares of company stock worth $1,416,379. 5.00% of the stock is owned by corporate insiders.

MMSI has been the topic of several research reports. Zacks Investment Research raised Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Saturday, October 28th. Canaccord Genuity upped their target price on Merit Medical Systems from $45.00 to $47.50 and gave the company a “buy” rating in a research report on Thursday, October 26th. Wells Fargo & Co reissued an “outperform” rating and issued a $51.00 target price (up from $46.00) on shares of Merit Medical Systems in a research report on Thursday, November 30th. ValuEngine raised Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st. Finally, SunTrust Banks set a $47.00 target price on Merit Medical Systems and gave the company a “buy” rating in a research report on Thursday, November 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Merit Medical Systems has an average rating of “Buy” and a consensus target price of $43.77.

ILLEGAL ACTIVITY WARNING: “Merit Medical Systems, Inc. (MMSI) Stake Boosted by California Public Employees Retirement System” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another publication, it was stolen and republished in violation of U.S. and international trademark & copyright laws. The correct version of this report can be read at https://www.thecerbatgem.com/2018/01/06/merit-medical-systems-inc-mmsi-stake-boosted-by-california-public-employees-retirement-system.html.

About Merit Medical Systems

Merit Medical Systems, Inc is a manufacturer and marketer of disposable medical devices used in a range of interventional, diagnostic and therapeutic medical procedures. The Company operates in two segments: cardiovascular and endoscopy. The cardiovascular segment consists of cardiology and radiology devices, which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases, and includes embolotherapeutic, cardiac rhythm management (CRM), electrophysiology (EP), and interventional oncology and spine devices.

Want to see what other hedge funds are holding MMSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merit Medical Systems, Inc. (NASDAQ:MMSI).

Institutional Ownership by Quarter for Merit Medical Systems (NASDAQ:MMSI)

Receive News & Ratings for Merit Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merit Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.