Insider Selling: Merit Medical Systems, Inc. (NASDAQ:MMSI) Insider Sells 25,000 Shares of Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) insider Brian G. Lloyd sold 25,000 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the sale, the insider now owns 38,993 shares in the company, valued at approximately $3,879,803.50. This trade represents a 39.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Merit Medical Systems Stock Up 2.9 %

Shares of Merit Medical Systems stock opened at $104.85 on Thursday. The company’s 50 day moving average price is $103.23 and its 200-day moving average price is $100.29. Merit Medical Systems, Inc. has a 52-week low of $70.70 and a 52-week high of $111.45. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 51.40, a P/E/G ratio of 2.34 and a beta of 0.87.

Analyst Ratings Changes

A number of research firms have weighed in on MMSI. Needham & Company LLC lowered their price target on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Canaccord Genuity Group cut their target price on 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. Barrington Research decreased their price target on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $116.00 price objective (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Merit Medical Systems has a consensus rating of “Moderate Buy” and an average target price of $110.78.

Institutional Investors Weigh In On Merit Medical Systems

A number of large investors have recently added to or reduced their stakes in the company. Peak Retirement Planning Inc. purchased a new stake in shares of Merit Medical Systems during the fourth quarter worth about $875,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Merit Medical Systems by 17.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,344 shares of the medical instruments supplier’s stock worth $15,992,000 after buying an additional 24,528 shares during the period. iSAM Funds UK Ltd purchased a new stake in Merit Medical Systems in the 4th quarter worth approximately $424,000. Virtus Investment Advisers Inc. grew its position in shares of Merit Medical Systems by 45.7% in the 4th quarter. Virtus Investment Advisers Inc. now owns 11,192 shares of the medical instruments supplier’s stock worth $1,082,000 after buying an additional 3,513 shares during the last quarter. Finally, Tidal Investments LLC increased its stake in shares of Merit Medical Systems by 3,197.9% during the fourth quarter. Tidal Investments LLC now owns 342,912 shares of the medical instruments supplier’s stock valued at $33,166,000 after buying an additional 332,514 shares during the period. 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.