Insider Selling: Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Sells 2,433 Shares of Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Lynne N. Ward sold 2,433 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $84.89, for a total transaction of $206,537.37. Following the transaction, the director owned 12,809 shares of the company’s stock, valued at $1,087,356.01. This trade represents a 15.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Merit Medical Systems Stock Up 1.6%

Merit Medical Systems stock opened at $86.15 on Thursday. The company has a market capitalization of $5.10 billion, a P/E ratio of 43.73, a PEG ratio of 2.77 and a beta of 0.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09. Merit Medical Systems, Inc. has a fifty-two week low of $81.04 and a fifty-two week high of $111.45. The stock has a 50-day simple moving average of $89.80 and a 200-day simple moving average of $96.17.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $382.46 million for the quarter, compared to analyst estimates of $372.47 million. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. Equities research analysts expect that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MMSI. Robert W. Baird decreased their price objective on shares of Merit Medical Systems from $111.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Needham & Company LLC restated a “buy” rating and issued a $108.00 price target on shares of Merit Medical Systems in a research note on Friday, July 18th. Raymond James Financial lowered their price objective on Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Canaccord Genuity Group set a $112.00 price objective on Merit Medical Systems and gave the company a “buy” rating in a report on Wednesday, May 21st. Finally, Wells Fargo & Company cut their target price on Merit Medical Systems from $108.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.00.

Hedge Funds Weigh In On Merit Medical Systems

Institutional investors have recently modified their holdings of the business. Maseco LLP acquired a new stake in Merit Medical Systems during the 2nd quarter worth $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Merit Medical Systems in the first quarter valued at about $31,000. IFP Advisors Inc boosted its stake in shares of Merit Medical Systems by 1,435.0% during the first quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier’s stock worth $32,000 after buying an additional 287 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Merit Medical Systems by 55.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock worth $35,000 after buying an additional 134 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Merit Medical Systems by 119.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock worth $39,000 after buying an additional 200 shares during the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

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.