Merit Medical Systems (NASDAQ:MMSI) Chairman Fred Lampropoulos Sells 25,000 Shares

Merit Medical Systems, Inc. (NASDAQ:MMSI) Chairman Fred Lampropoulos sold 25,000 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $87.31, for a total value of $2,182,750.00. Following the transaction, the chairman owned 1,029,955 shares of the company’s stock, valued at approximately $89,925,371.05. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $87.17 on Tuesday. Merit Medical Systems, Inc. has a 12-month low of $78.12 and a 12-month high of $111.45. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. The company has a market cap of $5.17 billion, a PE ratio of 44.25, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64. The stock has a 50-day moving average price of $83.89 and a 200-day moving average price of $88.43.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.10. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The company had revenue of $384.16 million for the quarter, compared to analysts’ expectations of $371.69 million. During the same period in the prior year, the business earned $0.86 earnings per share. Merit Medical Systems’s revenue for the quarter was up 13.0% compared to the same quarter last year. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. As a group, equities analysts forecast that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Merit Medical Systems

Several institutional investors and hedge funds have recently modified their holdings of MMSI. Amundi boosted its holdings in Merit Medical Systems by 2.2% in the 1st quarter. Amundi now owns 132,780 shares of the medical instruments supplier’s stock valued at $13,804,000 after purchasing an additional 2,847 shares during the last quarter. Wellington Management Group LLP lifted its stake in Merit Medical Systems by 15.3% in the first quarter. Wellington Management Group LLP now owns 260,084 shares of the medical instruments supplier’s stock valued at $27,493,000 after buying an additional 34,448 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Merit Medical Systems by 119.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock valued at $39,000 after purchasing an additional 200 shares during the period. Fred Alger Management LLC increased its stake in Merit Medical Systems by 22.9% in the first quarter. Fred Alger Management LLC now owns 154,707 shares of the medical instruments supplier’s stock valued at $16,354,000 after purchasing an additional 28,793 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Merit Medical Systems by 5.3% during the second quarter. Envestnet Asset Management Inc. now owns 244,163 shares of the medical instruments supplier’s stock worth $22,824,000 after purchasing an additional 12,256 shares during the period. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Wall Street Analysts Forecast Growth

MMSI has been the subject of several analyst reports. Canaccord Genuity Group cut their price target on shares of Merit Medical Systems from $104.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Needham & Company LLC reiterated a “buy” rating and set a $108.00 price target on shares of Merit Medical Systems in a research report on Friday, October 31st. Piper Sandler reaffirmed an “overweight” rating and set a $109.00 target price (up previously from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st. Wells Fargo & Company lowered their price objective on Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating on the stock in a research report on Friday, November 14th. Finally, Barrington Research restated an “outperform” rating and set a $106.00 price target on shares of Merit Medical Systems in a research note on Friday, November 14th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $104.50.

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.