Insider Selling: Merit Medical Systems, Inc. (NASDAQ:MMSI) Insider Sells 30,000 Shares of Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) insider Brian G. Lloyd sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $102.90, for a total transaction of $3,087,000.00. Following the sale, the insider now directly owns 38,945 shares of the company’s stock, valued at approximately $4,007,440.50. This trade represents a 43.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Merit Medical Systems Stock Performance

MMSI opened at $99.95 on Friday. The business’s 50-day moving average price is $103.35 and its two-hundred day moving average price is $100.43. Merit Medical Systems, Inc. has a 1 year low of $70.70 and a 1 year high of $111.45. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of 49.00, a P/E/G ratio of 2.34 and a beta of 0.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MMSI shares. Needham & Company LLC dropped their price target on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Barrington Research lowered their target price on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Raymond James upped their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 31st. Finally, Canaccord Genuity Group lowered their target price on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.78.

Institutional Trading of Merit Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Merit Medical Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,648,659 shares of the medical instruments supplier’s stock valued at $643,058,000 after purchasing an additional 63,314 shares during the period. State Street Corp raised its stake in shares of Merit Medical Systems by 0.7% in the 3rd quarter. State Street Corp now owns 2,231,701 shares of the medical instruments supplier’s stock valued at $220,559,000 after purchasing an additional 15,098 shares during the period. FMR LLC increased its position in shares of Merit Medical Systems by 31.6% in the fourth quarter. FMR LLC now owns 2,076,439 shares of the medical instruments supplier’s stock valued at $200,833,000 after acquiring an additional 499,193 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Merit Medical Systems by 2.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,633,246 shares of the medical instruments supplier’s stock valued at $157,968,000 after acquiring an additional 36,489 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Merit Medical Systems by 8.3% in the fourth quarter. Invesco Ltd. now owns 1,535,468 shares of the medical instruments supplier’s stock valued at $148,510,000 after acquiring an additional 118,142 shares during the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

About Merit Medical Systems

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.