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 Merit Medical Systems stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the transaction, the director now directly owns 32,391 shares of the company’s stock, valued at $2,753,235. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Merit Medical Systems Trading Down 0.8 %

Shares of NASDAQ MMSI opened at $85.85 on Friday. The stock has a market capitalization of $4.99 billion, a P/E ratio of 49.34, a PEG ratio of 2.46 and a beta of 0.88. Merit Medical Systems, Inc. has a 1-year low of $62.58 and a 1-year high of $87.44. The business’s 50 day moving average is $81.58 and its two-hundred day moving average is $77.96. The company has a debt-to-equity ratio of 0.65, a current ratio of 6.03 and a quick ratio of 4.38.

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

Wall Street Analysts Forecast Growth

MMSI has been the subject of a number of research reports. Baird R W raised shares of Merit Medical Systems to a “strong-buy” rating in a research report on Friday, June 28th. Barrington Research restated an “outperform” rating and issued a $100.00 price objective on shares of Merit Medical Systems in a research note on Tuesday. Needham & Company LLC boosted their price target on Merit Medical Systems from $85.00 to $93.00 and gave the company a “buy” rating in a report on Monday. Piper Sandler boosted their price objective on Merit Medical Systems from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Robert W. Baird initiated coverage on shares of Merit Medical Systems in a research note on Friday, June 28th. They set an “outperform” rating and a $96.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Merit Medical Systems presently has a consensus rating of “Moderate Buy” and an average target price of $96.20.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Glenmede Trust Co. NA boosted its position in Merit Medical Systems by 15.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 26,617 shares of the medical instruments supplier’s stock valued at $1,837,000 after buying an additional 3,604 shares during the period. Lido Advisors LLC bought a new stake in Merit Medical Systems during the 3rd quarter valued at $253,000. Sectoral Asset Management Inc. lifted its holdings in shares of Merit Medical Systems by 3.9% in the 3rd quarter. Sectoral Asset Management Inc. now owns 79,000 shares of the medical instruments supplier’s stock worth $5,453,000 after buying an additional 3,000 shares during the period. Royal Bank of Canada grew its position in shares of Merit Medical Systems by 5.3% during the 3rd quarter. Royal Bank of Canada now owns 624,421 shares of the medical instruments supplier’s stock worth $43,100,000 after buying an additional 31,204 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Merit Medical Systems by 69.3% in the third quarter. Public Employees Retirement System of Ohio now owns 103,099 shares of the medical instruments supplier’s stock worth $7,116,000 after acquiring an additional 42,191 shares during the period. 99.66% of the stock is currently owned by institutional investors.

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.