California Public Employees Retirement System Acquires 3,990 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

California Public Employees Retirement System grew its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 3.2% during the 4th quarter, HoldingsChannel reports. The firm owned 127,461 shares of the medical instruments supplier’s stock after purchasing an additional 3,990 shares during the quarter. California Public Employees Retirement System’s holdings in Merit Medical Systems were worth $7,075,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MMSI. Starboard Value LP boosted its position in Merit Medical Systems by 3.3% in the third quarter. Starboard Value LP now owns 4,464,739 shares of the medical instruments supplier’s stock valued at $194,216,000 after buying an additional 143,739 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in Merit Medical Systems by 0.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,064,818 shares of the medical instruments supplier’s stock worth $114,618,000 after purchasing an additional 18,573 shares in the last quarter. William Blair Investment Management LLC raised its position in Merit Medical Systems by 0.7% in the third quarter. William Blair Investment Management LLC now owns 972,964 shares of the medical instruments supplier’s stock valued at $42,324,000 after purchasing an additional 7,028 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Merit Medical Systems by 4.1% during the third quarter. Westwood Holdings Group Inc. now owns 945,456 shares of the medical instruments supplier’s stock valued at $41,127,000 after purchasing an additional 37,429 shares in the last quarter. Finally, Polar Capital LLP bought a new stake in shares of Merit Medical Systems during the third quarter worth about $29,938,000. 99.47% of the stock is owned by institutional investors.

A number of equities research analysts have weighed in on the stock. Barrington Research boosted their target price on shares of Merit Medical Systems from $54.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, October 29th. Sidoti boosted their price objective on shares of Merit Medical Systems from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Zacks Investment Research lowered Merit Medical Systems from a “buy” rating to a “hold” rating and set a $59.00 target price for the company. in a research report on Tuesday, January 12th. Oppenheimer upped their price target on Merit Medical Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, November 11th. Finally, Raymond James increased their price target on Merit Medical Systems from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, November 11th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $61.44.

Shares of Merit Medical Systems stock opened at $57.54 on Tuesday. The stock’s 50-day moving average is $57.48 and its 200 day moving average is $51.57. Merit Medical Systems, Inc. has a one year low of $25.18 and a one year high of $61.23. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of -108.56, a PEG ratio of 2.40 and a beta of 1.21. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.34 and a quick ratio of 1.21.

Merit Medical Systems Profile

Merit Medical Systems, Inc manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through two segments, Cardiovascular and Endoscopy. It provides peripheral intervention products for the diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, interventional fluid management, pressure monitoring, and cardiac rhythm management, as well as thermodilution and pulmonary artery catheters and electrophysiology to treat various heart conditions.

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