Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Raul Jr. Parra Sells 15,181 Shares

Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) CFO Raul Jr. Parra sold 15,181 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 24,201 shares in the company, valued at $2,268,843.75. This trade represents a 38.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Merit Medical Systems Trading Down 0.9%

NASDAQ:MMSI traded down $0.87 during midday trading on Tuesday, reaching $92.90. 500,445 shares of the stock traded hands, compared to its average volume of 532,541. The stock has a market capitalization of $5.49 billion, a P/E ratio of 45.54, a PEG ratio of 3.09 and a beta of 0.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.26 and a current ratio of 4.87. The company has a fifty day moving average of $94.62 and a 200 day moving average of $99.47. 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 quarterly earnings data 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 firm had revenue of $355.35 million during the quarter, compared to the consensus estimate of $352.57 million. Merit Medical Systems had a net margin of 8.81% and a return on equity of 15.52%. The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 earnings per share. On average, research analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $108.00 target price (up previously from $106.00) on shares of Merit Medical Systems in a research note on Wednesday, May 21st. Robert W. Baird cut their price objective on shares of 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. Raymond James Financial reduced their target price on shares of Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Canaccord Genuity Group set a $112.00 price target on shares of Merit Medical Systems and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. assumed coverage on shares of Merit Medical Systems in a research report on Friday, March 28th. They set an "overweight" rating and a $120.00 price target for the company. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $109.11.

Institutional Investors Weigh In On Merit Medical Systems

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

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.

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