Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Sells $1,423,218.75 in Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) CFO Raul Jr. Parra sold 15,181 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $93.75, for a total value of $1,423,218.75. Following the completion of the transaction, the chief financial officer now directly owns 24,201 shares in the company, valued at approximately $2,268,843.75. This trade represents a 38.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Merit Medical Systems Stock Down 1.0%

MMSI traded down $0.97 during trading on Friday, reaching $91.98. The company had a trading volume of 960,835 shares, compared to its average volume of 535,260. The company has a market cap of $5.44 billion, a P/E ratio of 45.09, a PEG ratio of 3.06 and a beta of 0.66. Merit Medical Systems, Inc. has a 12 month low of $80.98 and a 12 month high of $111.45. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.87 and a quick ratio of 3.26. The business's fifty day moving average price is $94.53 and its 200 day moving average price is $99.29.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.11. The business had revenue of $355.35 million for the quarter, compared to analyst estimates of $352.57 million. Merit Medical Systems had a net margin of 8.81% and a return on equity of 15.52%. The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted $0.77 earnings per share. Equities analysts anticipate that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Analyst Ratings Changes

MMSI has been the topic of several analyst reports. Raymond James Financial cut their target price on 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 shares of Merit Medical Systems and gave the company a "buy" rating in a research report on Wednesday, May 21st. Robert W. Baird reduced their price objective on shares of 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. JPMorgan Chase & Co. assumed coverage on shares of Merit Medical Systems in a research note on Friday, March 28th. They issued an "overweight" rating and a $120.00 target price for the company. Finally, Piper Sandler reiterated an "overweight" rating and issued a $110.00 target price (up from $106.00) on shares of Merit Medical Systems in a report on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $109.11.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Principal Securities Inc. raised its position in Merit Medical Systems by 28.0% in the 4th quarter. Principal Securities Inc. now owns 2,342 shares of the medical instruments supplier's stock valued at $227,000 after buying an additional 513 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Merit Medical Systems by 3.9% during the fourth quarter. Principal Financial Group Inc. now owns 312,020 shares of the medical instruments supplier's stock worth $30,179,000 after purchasing an additional 11,756 shares during the last quarter. Truist Financial Corp grew its position in Merit Medical Systems by 16.3% in the fourth quarter. Truist Financial Corp now owns 12,454 shares of the medical instruments supplier's stock valued at $1,205,000 after purchasing an additional 1,744 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Merit Medical Systems by 0.6% during the 4th quarter. New York State Common Retirement Fund now owns 168,367 shares of the medical instruments supplier's stock worth $16,284,000 after buying an additional 972 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC bought a new position in shares of Merit Medical Systems in the 4th quarter valued at about $36,057,000. 99.66% of the stock is owned by institutional investors and hedge funds.

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.