Merit Medical Systems, Inc. (NASDAQ:MMSI) CEO Sells $951,200.00 in Stock

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

Merit Medical Systems Trading Up 1.0%

MMSI stock traded up $0.95 during mid-day trading on Thursday, reaching $95.21. The company's stock had a trading volume of 386,423 shares, compared to its average volume of 525,291. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 46.67, a price-to-earnings-growth ratio of 2.34 and a beta of 0.70. The business's 50 day moving average price is $95.19 and its 200 day moving average price is $100.08. 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, Inc. has a 12 month low of $80.02 and a 12 month high of $111.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates 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 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 in the previous year, the company posted $0.77 earnings per share. On average, equities research analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC purchased a new position in shares of Merit Medical Systems during the 1st quarter valued at $31,000. NewSquare Capital LLC bought a new position in Merit Medical Systems in the 4th quarter worth about $32,000. IFP Advisors Inc raised its holdings in shares of Merit Medical Systems by 1,435.0% during the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier's stock valued at $32,000 after buying an additional 287 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Merit Medical Systems by 119.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier's stock valued at $39,000 after buying an additional 200 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new position in shares of Merit Medical Systems during the 1st quarter valued at about $41,000. Institutional investors own 99.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MMSI. JPMorgan Chase & Co. began coverage on Merit Medical Systems in a research report on Friday, March 28th. They issued an "overweight" rating and a $120.00 target price on the stock. Raymond James decreased their target price 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. Needham & Company LLC lifted their target price 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. Robert W. Baird cut their price target on Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, Barrington Research cut their price target on 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. Two equities research 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. Based on data from MarketBeat, Merit Medical Systems has an average 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.