Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Lynne N. Ward Sells 2,433 Shares

Key Points

• Lynne N. Ward, Director of Merit Medical Systems, sold 2,433 shares of stock at an average price of $84.89, resulting in a total transaction of over $206,000, decreasing her ownership by 15.96%.
• Merit Medical recently reported $1.01 EPS for the latest quarter, exceeding analysts' expectations of $0.85, and achieved a 13.2% revenue growth year-over-year with a quarterly revenue of $382.46 million.
• Several analysts have issued price targets for Merit Medical, with the consensus rating being a "Moderate Buy" and an average target price of $107.00, indicating anticipated growth.

Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) Director Lynne N. Ward sold 2,433 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $84.89, for a total transaction of $206,537.37. Following the sale, the director directly owned 12,809 shares in the company, valued at $1,087,356.01. This trade represents a 15.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Merit Medical Systems Stock Performance

NASDAQ:MMSI traded up $0.21 during mid-day trading on Tuesday, reaching $84.25. 183,032 shares of the company's stock were exchanged, compared to its average volume of 661,960. Merit Medical Systems, Inc. has a one year low of $81.04 and a one year high of $111.45. The firm has a market capitalization of $4.99 billion, a PE ratio of 42.77, a price-to-earnings-growth ratio of 2.80 and a beta of 0.66. The business's fifty day simple moving average is $90.16 and its two-hundred day simple moving average is $96.32. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.16. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The business had revenue of $382.46 million for the quarter, compared to analyst estimates of $372.47 million. During the same period last year, the firm earned $0.92 earnings per share. Merit Medical Systems's revenue for the quarter was up 13.2% compared to the same quarter last year. Analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MMSI shares. Canaccord Genuity Group set a $112.00 price objective on shares of Merit Medical Systems and gave the company a "buy" rating in a research report on Wednesday, May 21st. Piper Sandler dropped their price objective on shares of Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Wells Fargo & Company dropped their price objective on shares of Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Robert W. Baird dropped 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 report on Friday, April 25th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $108.00 price objective on shares of Merit Medical Systems in a research report on Friday, July 18th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Merit Medical Systems has a consensus rating of "Moderate Buy" and an average target price of $107.00.

Institutional Investors Weigh In On Merit Medical Systems

A number of large investors have recently bought and sold shares of the company. Rhumbline Advisers grew its stake in Merit Medical Systems by 7.1% during the second quarter. Rhumbline Advisers now owns 167,643 shares of the medical instruments supplier's stock worth $15,671,000 after buying an additional 11,089 shares in the last quarter. AXQ Capital LP acquired a new stake in Merit Medical Systems during the second quarter worth about $291,000. Journey Strategic Wealth LLC acquired a new stake in Merit Medical Systems during the second quarter worth about $243,000. Franklin Resources Inc. grew its stake in Merit Medical Systems by 25.9% during the second quarter. Franklin Resources Inc. now owns 884,607 shares of the medical instruments supplier's stock worth $82,693,000 after buying an additional 181,815 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Merit Medical Systems by 2.0% during the second quarter. Legal & General Group Plc now owns 188,787 shares of the medical instruments supplier's stock worth $17,648,000 after buying an additional 3,705 shares in the last quarter. 99.66% of the stock is currently 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.

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