Insider Selling: Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Sells 29,646 Shares of Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Raul Jr. Parra sold 29,646 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total transaction of $2,905,900.92. Following the completion of the transaction, the chief financial officer now directly owns 16,361 shares in the company, valued at $1,603,705.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Merit Medical Systems Trading Down 0.5 %

MMSI stock traded down $0.51 during midday trading on Thursday, hitting $101.97. 438,341 shares of the company’s stock were exchanged, compared to its average volume of 440,667. Merit Medical Systems, Inc. has a 1-year low of $65.46 and a 1-year high of $102.88. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $5.94 billion, a PE ratio of 49.99, a P/E/G ratio of 2.46 and a beta of 0.89. The business has a 50-day simple moving average of $97.07 and a two-hundred day simple moving average of $88.69.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. The firm had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. Merit Medical Systems’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. On average, sell-side analysts predict that Merit Medical Systems, Inc. will post 3.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Merit Medical Systems

Hedge funds have recently made changes to their positions in the stock. Quest Partners LLC lifted its stake in Merit Medical Systems by 92.6% during the 3rd quarter. Quest Partners LLC now owns 11,843 shares of the medical instruments supplier’s stock worth $1,170,000 after acquiring an additional 5,695 shares in the last quarter. Natixis Advisors LLC increased its stake in Merit Medical Systems by 1.5% during the third quarter. Natixis Advisors LLC now owns 67,544 shares of the medical instruments supplier’s stock worth $6,675,000 after purchasing an additional 1,009 shares during the period. Impax Asset Management Group plc acquired a new stake in shares of Merit Medical Systems during the third quarter worth about $11,860,000. Zions Bancorporation N.A. boosted its stake in shares of Merit Medical Systems by 18.6% in the third quarter. Zions Bancorporation N.A. now owns 37,070 shares of the medical instruments supplier’s stock valued at $3,664,000 after purchasing an additional 5,819 shares during the period. Finally, Lisanti Capital Growth LLC acquired a new position in shares of Merit Medical Systems in the third quarter valued at approximately $845,000. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on MMSI shares. Barrington Research reiterated an “outperform” rating and set a $114.00 price target on shares of Merit Medical Systems in a research report on Thursday, October 31st. StockNews.com cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday. Robert W. Baird upped their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and issued a $109.00 target price on shares of Merit Medical Systems in a research note on Thursday, October 31st. Finally, Piper Sandler restated an “overweight” rating and issued a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $103.36.

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.