Merit Medical Systems (NASDAQ:MMSI) Director Lynne Ward Sells 3,000 Shares

Key Points

• Lynne Ward, Director of Merit Medical Systems, sold 3,000 shares at an average price of $88.56, decreasing her ownership by 18.98% and leaving her with 12,809 shares.
• The company's stock, MMSI, traded down 1.2% to $88.375, with a market capitalization of $5.23 billion and an increasing revenue of 13.2% compared to the same quarter last year.
• Analysts have a Moderate Buy rating on MMSI, with an average price target of $107.00, but several firms have recently lowered their price objectives.

Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) Director Lynne Ward sold 3,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $88.56, for a total value of $265,680.00. Following the sale, the director owned 12,809 shares of the company's stock, valued at $1,134,365.04. This represents a 18.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Merit Medical Systems Trading Down 1.2%

MMSI stock traded down $1.0750 during trading on Monday, hitting $88.3750. 229,471 shares of the company traded hands, compared to its average volume of 649,950. The firm has a market capitalization of $5.23 billion, a PE ratio of 44.89, a P/E/G ratio of 2.92 and a beta of 0.66. Merit Medical Systems, Inc. has a 1 year low of $81.04 and a 1 year high of $111.45. The company has a 50-day moving average of $88.73 and a 200-day moving average of $94.94. 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 issued its 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. The company had revenue of $382.46 million during the quarter, compared to analysts' expectations of $372.47 million. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.Merit Medical Systems's quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 EPS. Analysts predict that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Raymond James Financial dropped their price objective on Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Canaccord Genuity Group set a $112.00 price objective on Merit Medical Systems and gave the company a "buy" rating in a research report on Wednesday, May 21st. Barrington Research reaffirmed an "outperform" rating and issued a $103.00 price objective on shares of Merit Medical Systems in a report on Thursday, July 31st. Piper Sandler lowered their target price on 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. Finally, Wells Fargo & Company lowered their price objective on 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. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $107.00.

Hedge Funds Weigh In On Merit Medical Systems

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in Merit Medical Systems by 31.1% during the 1st quarter. GAMMA Investing LLC now owns 1,959 shares of the medical instruments supplier's stock valued at $207,000 after acquiring an additional 465 shares during the period. KBC Group NV boosted its position in Merit Medical Systems by 18.8% during the 1st quarter. KBC Group NV now owns 2,691 shares of the medical instruments supplier's stock valued at $284,000 after acquiring an additional 426 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Merit Medical Systems by 332.7% in the 4th quarter. Lazard Asset Management LLC now owns 4,682 shares of the medical instruments supplier's stock worth $452,000 after acquiring an additional 3,600 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Merit Medical Systems in the 1st quarter worth $294,000. Finally, Group One Trading LLC bought a new position in shares of Merit Medical Systems in the 4th quarter worth $77,000. 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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