Fred P. Lampropoulos Sells 400 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) CEO Fred P. Lampropoulos sold 400 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $95.61, for a total value of $38,244.00. Following the sale, the chief executive officer now owns 1,045,628 shares of the company's stock, valued at approximately $99,972,493.08. The trade was a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Merit Medical Systems Stock Down 0.7%

NASDAQ:MMSI traded down $0.62 during mid-day trading on Friday, hitting $92.97. The company had a trading volume of 414,534 shares, compared to its average volume of 529,608. The business has a fifty day simple moving average of $94.42 and a 200-day simple moving average of $99.67. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 45.69, a PEG ratio of 2.34 and a beta of 0.66. Merit Medical Systems, Inc. has a 1 year low of $80.02 and a 1 year high of $111.45. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57.

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Raymond James dropped their price objective on shares of Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Canaccord Genuity Group set a $112.00 price target on Merit Medical Systems and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Piper Sandler reiterated an "overweight" rating and set a $110.00 target price (up from $106.00) on shares of Merit Medical Systems in a research report on Friday, May 23rd. Needham & Company LLC raised their price target on Merit Medical Systems from $100.00 to $108.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, 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 on the stock. 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, the company currently has an average rating of "Moderate Buy" and an average price target of $109.11.

Hedge Funds Weigh In On Merit Medical Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MMSI. Maverick Capital Ltd. acquired a new position in shares of Merit Medical Systems in the first quarter worth about $134,517,000. Nuveen LLC acquired a new position in shares of Merit Medical Systems in the 1st quarter valued at approximately $80,679,000. Norges Bank purchased a new position in shares of Merit Medical Systems during the 4th quarter valued at approximately $66,638,000. Raymond James Financial Inc. acquired a new stake in shares of Merit Medical Systems during the fourth quarter worth approximately $48,926,000. Finally, FMR LLC grew its position in shares of Merit Medical Systems by 31.6% during the fourth quarter. FMR LLC now owns 2,076,439 shares of the medical instruments supplier's stock worth $200,833,000 after buying an additional 499,193 shares in the last quarter. 99.66% of the stock is 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.