Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Michael R. Mcdonnell Sells 1,750 Shares

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

Merit Medical Systems Stock Performance

MMSI traded up $0.07 during trading hours on Friday, hitting $95.28. 483,792 shares of the stock were exchanged, compared to its average volume of 529,402. The stock has a 50-day simple moving average of $94.78 and a 200-day simple moving average of $99.96. Merit Medical Systems, Inc. has a 12 month low of $80.02 and a 12 month high of $111.45. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 46.71, a price-to-earnings-growth ratio of 2.34 and a beta of 0.66. 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 (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, topping the consensus estimate of $0.75 by $0.11. The firm had revenue of $355.35 million for 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 revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the business posted $0.77 earnings per share. Analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Institutional Investors Weigh In On Merit Medical Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System lifted its stake in Merit Medical Systems by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier's stock valued at $2,728,000 after buying an additional 100 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in Merit Medical Systems by 4.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,347 shares of the medical instruments supplier's stock valued at $227,000 after buying an additional 103 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in Merit Medical Systems by 2.4% in the first quarter. Evergreen Capital Management LLC now owns 4,616 shares of the medical instruments supplier's stock valued at $488,000 after buying an additional 108 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Merit Medical Systems by 0.8% during the fourth quarter. Arizona State Retirement System now owns 16,869 shares of the medical instruments supplier's stock valued at $1,632,000 after purchasing an additional 137 shares during the period. Finally, US Bancorp DE raised its stake in shares of Merit Medical Systems by 3.8% during the first quarter. US Bancorp DE now owns 3,936 shares of the medical instruments supplier's stock valued at $416,000 after purchasing an additional 145 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MMSI shares. JPMorgan Chase & Co. began coverage on shares of Merit Medical Systems in a research report on Friday, March 28th. They issued an "overweight" rating and a $120.00 price objective for the company. Wells Fargo & Company reiterated an "overweight" rating and set a $108.00 target price (up from $106.00) on shares of Merit Medical Systems in a research note 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 research note on Thursday, May 15th. Raymond James reduced their target price on Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Robert W. Baird reduced their target price on Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. 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 company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $109.11.

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.