Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Raul Jr. Parra Sells 12,451 Shares

Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Raul Jr. Parra sold 12,451 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the sale, the chief financial officer now directly owns 24,201 shares of the company’s stock, valued at approximately $2,391,300.81. This trade represents a 33.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Merit Medical Systems Trading Up 1.0 %

NASDAQ:MMSI opened at $103.03 on Tuesday. The company has a market cap of $6.06 billion, a PE ratio of 50.51, a P/E/G ratio of 2.34 and a beta of 0.87. The business’s 50 day moving average is $103.02 and its two-hundred day moving average is $100.18. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 52 week low of $70.70 and a 52 week high of $111.45.

Hedge Funds Weigh In On Merit Medical Systems

Several large investors have recently added to or reduced their stakes in the company. Barclays PLC increased its stake in Merit Medical Systems by 305.4% during the third 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 last quarter. EULAV Asset Management boosted its holdings in shares of Merit Medical Systems by 400.0% in the 4th quarter. EULAV Asset Management now owns 115,000 shares of the medical instruments supplier’s stock valued at $11,123,000 after buying an additional 92,000 shares during the period. Van ECK Associates Corp acquired a new position in shares of Merit Medical Systems in the 3rd quarter valued at about $718,000. Fisher Asset Management LLC grew its position in shares of Merit Medical Systems by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 221,690 shares of the medical instruments supplier’s stock valued at $21,910,000 after buying an additional 6,837 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Merit Medical Systems by 85.6% during the third quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier’s stock worth $56,921,000 after acquiring an additional 265,648 shares during the period. 99.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MMSI. Piper Sandler restated an “overweight” rating and set a $116.00 price objective (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Wells Fargo & Company reduced their price target on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC lowered their price objective on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Canaccord Genuity Group reduced their target price on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Barrington Research lowered their price target on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $110.78.

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.