Insider Selling: Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Sells 2,433 Shares of Stock

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 Merit Medical Systems stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $84.89, for a total value of $206,537.37. Following the completion of the sale, the director directly owned 12,809 shares in the company, valued at approximately $1,087,356.01. This represents a 15.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Merit Medical Systems Trading Up 0.3%

Merit Medical Systems stock traded up $0.29 during trading hours on Friday, hitting $85.51. The stock had a trading volume of 557,515 shares, compared to its average volume of 641,514. The company has a quick ratio of 2.66, a current ratio of 4.09 and a debt-to-equity ratio of 0.49. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 43.41, a P/E/G ratio of 2.79 and a beta of 0.66. Merit Medical Systems, Inc. has a one year low of $81.04 and a one year high of $111.45. The business's 50 day simple moving average is $89.41 and its 200-day simple moving average is $95.87.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%. The company had revenue of $382.46 million during the quarter, compared to analysts' expectations of $372.47 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The business's quarterly revenue was up 13.2% on a year-over-year basis. On average, equities analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MMSI. Piper Sandler cut their target price on Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Needham & Company LLC reiterated a "buy" rating and set a $108.00 target price on shares of Merit Medical Systems in a research report on Friday, July 18th. Canaccord Genuity Group set a $112.00 target price on Merit Medical Systems and gave the company a "buy" rating in a research report on Wednesday, May 21st. Barrington Research reiterated an "outperform" rating and set a $103.00 target price on shares of Merit Medical Systems in a research report on Thursday, July 31st. Finally, Raymond James Financial cut their target price on Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $107.00.

Institutional Investors Weigh In On Merit Medical Systems

Large investors have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC acquired a new stake in Merit Medical Systems during the first quarter worth approximately $31,000. Maseco LLP acquired a new stake in Merit Medical Systems during the second quarter worth approximately $28,000. IFP Advisors Inc grew its stake in Merit Medical Systems by 1,435.0% during the first quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier's stock worth $32,000 after purchasing an additional 287 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Merit Medical Systems by 119.8% during the first 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 during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Merit Medical Systems by 55.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier's stock worth $35,000 after acquiring an additional 134 shares in the last quarter. Institutional investors and hedge funds 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.