Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Sells $165,025.00 in Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) Director Michael R. Mcdonnell sold 1,750 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $94.30, for a total value of $165,025.00. Following the transaction, the director now directly owns 8,145 shares of the company's stock, valued at $768,073.50. This trade represents a 17.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Merit Medical Systems Trading Up 1.0%

Shares of MMSI traded up $0.95 during trading hours on Thursday, hitting $95.21. 386,423 shares of the stock were exchanged, compared to its average volume of 525,291. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The firm has a market capitalization of $5.63 billion, a P/E ratio of 46.67, a price-to-earnings-growth ratio of 2.34 and a beta of 0.70. The business has a 50-day moving average of $95.19 and a 200-day moving average of $100.08. Merit Medical Systems, Inc. has a fifty-two week low of $80.02 and a fifty-two week high of $111.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.11. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business had revenue of $355.35 million for the quarter, compared to analysts' expectations of $352.57 million. During the same period in the previous year, the company earned $0.77 earnings per share. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, research 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 institutional investors have recently made changes to their positions in MMSI. Vanguard Group Inc. lifted its position in shares of Merit Medical Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,648,659 shares of the medical instruments supplier's stock worth $643,058,000 after purchasing an additional 63,314 shares during the period. FMR LLC grew its stake in shares of 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 acquiring an additional 499,193 shares during the period. Invesco Ltd. grew its stake in shares of Merit Medical Systems by 16.4% in the first quarter. Invesco Ltd. now owns 1,787,289 shares of the medical instruments supplier's stock worth $188,934,000 after acquiring an additional 251,821 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Merit Medical Systems by 8.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,766,711 shares of the medical instruments supplier's stock worth $186,759,000 after buying an additional 133,465 shares during the last quarter. Finally, Maverick Capital Ltd. purchased a new position in shares of Merit Medical Systems in the first quarter worth approximately $134,517,000. Hedge funds and other institutional investors own 99.66% of the company's stock.

Wall Street Analyst Weigh In

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