Fred P. Lampropoulos Sells 10,000 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) CEO Fred P. Lampropoulos sold 10,000 shares of Merit Medical Systems stock in a transaction on Friday, May 30th. The stock was sold at an average price of $95.12, for a total transaction of $951,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,056,028 shares of the company's stock, valued at $100,449,383.36. The trade was a 0.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock traded down $0.31 on Friday, reaching $94.90. The company's stock had a trading volume of 303,875 shares, compared to its average volume of 525,768. Merit Medical Systems, Inc. has a 52-week low of $80.02 and a 52-week high of $111.45. The stock has a 50-day moving average price of $94.98 and a 200-day moving average price of $100.02. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $5.61 billion, a P/E ratio of 46.41, a PEG ratio of 2.34 and a beta of 0.70.

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

Institutional Investors Weigh In On Merit Medical Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio acquired a new stake in shares of Merit Medical Systems during the 1st quarter worth about $1,575,000. Intech Investment Management LLC grew its position in shares of Merit Medical Systems by 33.5% in the 1st quarter. Intech Investment Management LLC now owns 42,169 shares of the medical instruments supplier's stock valued at $4,458,000 after buying an additional 10,582 shares during the last quarter. SageView Advisory Group LLC raised its stake in Merit Medical Systems by 3.1% during the 1st quarter. SageView Advisory Group LLC now owns 5,065 shares of the medical instruments supplier's stock worth $535,000 after acquiring an additional 153 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in Merit Medical Systems during the 1st quarter worth $41,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Merit Medical Systems by 73.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 286,943 shares of the medical instruments supplier's stock valued at $30,333,000 after acquiring an additional 121,599 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Piper Sandler reiterated an "overweight" rating and set a $110.00 price objective (up previously from $106.00) on shares of Merit Medical Systems in a research note on Friday, May 23rd. Barrington Research dropped their price objective on shares of Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $108.00 target price (up previously from $106.00) on shares of Merit Medical Systems in a report on Wednesday, May 21st. Canaccord Genuity Group set a $112.00 price target on shares of Merit Medical Systems and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, Needham & Company LLC lifted their price objective on shares of Merit Medical Systems from $100.00 to $108.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Merit Medical Systems has an average rating of "Moderate Buy" and an average price target of $109.11.

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.