Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Sells $330,972.40 in Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) Director David Floyd sold 3,515 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $94.16, for a total value of $330,972.40. Following the sale, the director now owns 4,880 shares in the company, valued at approximately $459,500.80. The trade was a 41.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Merit Medical Systems Stock Down 0.3%

NASDAQ MMSI traded down $0.33 during trading hours on Friday, reaching $94.89. 312,188 shares of the company's stock traded hands, compared to its average volume of 525,811. The firm has a market cap of $5.61 billion, a PE ratio of 46.48, a PEG ratio of 2.34 and a beta of 0.70. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. Merit Medical Systems, Inc. has a 52-week low of $80.02 and a 52-week high of $111.45. The firm has a 50-day simple moving average of $94.98 and a 200 day simple moving average of $100.02.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.11. The business had revenue of $355.35 million during the quarter, compared to analysts' expectations of $352.57 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. Sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Canaccord Genuity Group set a $112.00 price target on Merit Medical Systems and gave the company a "buy" rating in a research report on Wednesday, May 21st. Robert W. Baird lowered their price objective on shares of Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Barrington Research decreased their price target on shares of Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Piper Sandler reissued an "overweight" rating and set a $110.00 price objective (up from $106.00) on shares of Merit Medical Systems in a report on Friday, May 23rd. Finally, Raymond James dropped their price target on Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $109.11.

Institutional Investors Weigh In On Merit Medical Systems

A number of hedge funds have recently added to or reduced their stakes in MMSI. Vanguard Group Inc. grew its holdings in shares of Merit Medical Systems by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,648,659 shares of the medical instruments supplier's stock worth $643,058,000 after acquiring an additional 63,314 shares during the period. FMR LLC boosted its position in Merit Medical Systems by 31.6% in the fourth quarter. FMR LLC now owns 2,076,439 shares of the medical instruments supplier's stock worth $200,833,000 after purchasing an additional 499,193 shares during the last quarter. Invesco Ltd. grew its stake in shares of Merit Medical Systems by 16.4% during the 1st quarter. Invesco Ltd. now owns 1,787,289 shares of the medical instruments supplier's stock valued at $188,934,000 after purchasing an additional 251,821 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in shares of Merit Medical Systems by 8.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,766,711 shares of the medical instruments supplier's stock valued at $186,759,000 after purchasing an additional 133,465 shares during the last quarter. Finally, Maverick Capital Ltd. bought a new position in shares of Merit Medical Systems in the 1st quarter worth approximately $134,517,000. 99.66% of the stock is currently owned by hedge funds and other 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.