Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Sells $1,062,500.00 in Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) Director F. Ann Millner sold 12,500 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the transaction, the director now owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Merit Medical Systems Stock Performance

MMSI opened at $85.85 on Thursday. The stock has a 50-day moving average of $81.33 and a 200-day moving average of $77.91. Merit Medical Systems, Inc. has a 52-week low of $62.58 and a 52-week high of $87.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.38 and a current ratio of 6.03. The company has a market cap of $4.99 billion, a PE ratio of 49.34, a price-to-earnings-growth ratio of 2.40 and a beta of 0.88.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The company had revenue of $323.51 million during the quarter, compared to analysts’ expectations of $315.57 million. During the same period in the prior year, the company earned $0.64 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts forecast that Merit Medical Systems, Inc. will post 3.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MMSI has been the subject of several recent research reports. Needham & Company LLC increased their target price on shares of Merit Medical Systems from $85.00 to $93.00 and gave the company a “buy” rating in a research note on Monday. Barrington Research reissued an “outperform” rating and set a $100.00 price objective on shares of Merit Medical Systems in a research note on Tuesday. CL King assumed coverage on Merit Medical Systems in a report on Thursday, April 11th. They issued a “buy” rating and a $88.00 target price on the stock. Piper Sandler upped their target price on Merit Medical Systems from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, Robert W. Baird assumed coverage on Merit Medical Systems in a research note on Friday, June 28th. They issued an “outperform” rating and a $96.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $96.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Group LLC lifted its holdings in shares of Merit Medical Systems by 0.6% during the 4th quarter. Renaissance Group LLC now owns 24,550 shares of the medical instruments supplier’s stock worth $1,863,000 after acquiring an additional 144 shares during the period. Entropy Technologies LP grew its position in Merit Medical Systems by 6.5% in the first quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier’s stock valued at $251,000 after acquiring an additional 203 shares during the period. Parallel Advisors LLC raised 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 acquiring an additional 212 shares in the last quarter. Diversified Trust Co raised its stake in Merit Medical Systems by 3.0% during the third quarter. Diversified Trust Co now owns 10,150 shares of the medical instruments supplier’s stock worth $701,000 after acquiring an additional 292 shares in the last quarter. Finally, CreativeOne Wealth LLC lifted its holdings in shares of Merit Medical Systems by 10.3% during the first quarter. CreativeOne Wealth LLC now owns 4,003 shares of the medical instruments supplier’s stock valued at $303,000 after acquiring an additional 375 shares during the period. Institutional investors own 99.66% 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.