Insider Selling: Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Sells 1,750 Shares of Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) Director Michael R. Mcdonnell sold 1,750 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $94.51, for a total transaction of $165,392.50. Following the completion of the sale, the director now owns 6,395 shares in the company, valued at approximately $604,391.45. The trade was a 21.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Merit Medical Systems Price Performance

Shares of MMSI traded up $0.95 during mid-day trading on Thursday, reaching $95.21. The company had a trading volume of 386,423 shares, compared to its average volume of 525,291. The company's 50 day simple moving average is $95.19 and its 200 day simple moving average is $100.08. Merit Medical Systems, Inc. has a 1-year low of $80.02 and a 1-year high of $111.45. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 46.67, a P/E/G ratio of 2.34 and a beta of 0.70.

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

Analyst Ratings Changes

Several research analysts recently issued reports on MMSI shares. Needham & Company LLC upped their price target on shares of Merit Medical Systems from $100.00 to $108.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Wells Fargo & Company reiterated an "overweight" rating and set a $108.00 price target (up previously from $106.00) on shares of Merit Medical Systems in a research report on Wednesday, May 21st. JPMorgan Chase & Co. started 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 on the stock. Robert W. Baird reduced their price target 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, Barrington Research reduced their price target on shares of 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. Two 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. Based on data from MarketBeat, Merit Medical Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $109.11.

Institutional Trading of Merit Medical Systems

Several large investors have recently modified their holdings of the stock. Barclays PLC grew its position in Merit Medical Systems by 305.4% in the 3rd quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier's stock valued at $11,142,000 after purchasing an additional 84,923 shares during the period. KBC Group NV boosted its holdings in Merit Medical Systems by 42.8% during the 4th quarter. KBC Group NV now owns 2,265 shares of the medical instruments supplier's stock worth $219,000 after acquiring an additional 679 shares during the last quarter. abrdn plc boosted its holdings in Merit Medical Systems by 49.7% during the 4th quarter. abrdn plc now owns 546,146 shares of the medical instruments supplier's stock worth $52,823,000 after acquiring an additional 181,228 shares during the last quarter. Longboard Asset Management LP purchased a new position in Merit Medical Systems during the 4th quarter worth $201,000. Finally, Silver Oak Securities Incorporated boosted its holdings in Merit Medical Systems by 37.3% during the 4th quarter. Silver Oak Securities Incorporated now owns 5,686 shares of the medical instruments supplier's stock worth $549,000 after acquiring an additional 1,544 shares during the last quarter. Institutional investors and hedge funds own 99.66% of the company's stock.

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.