Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Sells $2,905,900.92 in Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Raul Jr. Parra sold 29,646 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total value of $2,905,900.92. Following the completion of the sale, the chief financial officer now directly owns 16,361 shares of the company’s stock, valued at approximately $1,603,705.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Merit Medical Systems Trading Up 0.8 %

NASDAQ MMSI opened at $102.74 on Friday. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 50.36, a PEG ratio of 2.54 and a beta of 0.89. Merit Medical Systems, Inc. has a 52 week low of $65.46 and a 52 week high of $103.46. The stock’s 50 day moving average price is $97.19 and its two-hundred day moving average price is $89.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business had revenue of $339.85 million during the quarter, compared to analysts’ expectations of $334.60 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, analysts anticipate that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barrington Research restated an “outperform” rating and set a $114.00 price objective on shares of Merit Medical Systems in a report on Thursday, October 31st. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price objective (up previously from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Wells Fargo & Company boosted their target price on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Robert W. Baird raised their price target on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $109.00 price objective on shares of Merit Medical Systems in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.36.

Hedge Funds Weigh In On Merit Medical Systems

Several hedge funds have recently modified their holdings of the stock. American Century Companies Inc. raised its holdings in Merit Medical Systems by 2.9% during the second quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock worth $362,000 after acquiring an additional 118 shares in the last quarter. Xponance Inc. boosted its holdings in shares of Merit Medical Systems by 4.9% in the 2nd quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock valued at $311,000 after buying an additional 170 shares during the last quarter. Entropy Technologies LP grew its stake in shares of 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 buying an additional 203 shares in the last quarter. Park Avenue Securities LLC increased its holdings in Merit Medical Systems by 5.9% during the third quarter. Park Avenue Securities LLC now owns 3,991 shares of the medical instruments supplier’s stock worth $394,000 after buying an additional 223 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Merit Medical Systems by 19.7% during the second quarter. Blue Trust Inc. now owns 1,426 shares of the medical instruments supplier’s stock worth $123,000 after acquiring an additional 235 shares in the last quarter. 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.