Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Sells $165,392.50 in Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) Director Michael R. Mcdonnell sold 1,750 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $94.51, for a total value of $165,392.50. Following the completion of the sale, the director now owns 6,395 shares in the company, valued at $604,391.45. This represents a 21.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Merit Medical Systems Stock Up 1.0%

NASDAQ MMSI traded up $0.95 on Thursday, hitting $95.21. The stock had a trading volume of 386,423 shares, compared to its average volume of 525,291. The business's fifty day moving average price is $95.19 and its 200 day moving average price is $100.08. Merit Medical Systems, Inc. has a 52-week low of $80.02 and a 52-week high of $111.45. The stock 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 company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.11. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The firm had revenue of $355.35 million for the quarter, compared to analyst estimates of $352.57 million. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Merit Medical Systems's revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new position in shares of Merit Medical Systems in the first quarter worth $31,000. NewSquare Capital LLC purchased a new stake in shares of Merit Medical Systems in the fourth quarter valued at about $32,000. IFP Advisors Inc raised its holdings in shares of Merit Medical Systems by 1,435.0% in the first 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 during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 acquiring an additional 200 shares during the period. Finally, Bayforest Capital Ltd acquired a new position in shares of Merit Medical Systems during the first quarter worth about $41,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MMSI has been the topic of several analyst reports. Raymond James decreased their price target 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. Barrington Research decreased their price target on Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Canaccord Genuity Group set a $112.00 price target on Merit Medical Systems and gave the company a "buy" rating in a research report on Wednesday, May 21st. Wells Fargo & Company reiterated an "overweight" rating and set a $108.00 price target (up from $106.00) on shares of Merit Medical Systems in a research report on Wednesday, May 21st. Finally, Piper Sandler restated an "overweight" rating and issued a $110.00 price objective (up from $106.00) on shares of Merit Medical Systems in a research report on Friday, May 23rd. Two 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. According to MarketBeat.com, the stock currently 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.