Insider Selling: Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Sells $2,049,987.50 in Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) Director F. Ann Millner sold 21,250 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $96.47, for a total value of $2,049,987.50. Following the transaction, the director now directly owns 34,543 shares of the company’s stock, valued at $3,332,363.21. This trade represents a 38.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Merit Medical Systems Stock Performance

MMSI opened at $96.49 on Thursday. Merit Medical Systems, Inc. has a 12-month low of $80.02 and a 12-month high of $111.45. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 47.30, a PEG ratio of 2.34 and a beta of 0.70. The business has a 50 day moving average of $96.72 and a 200-day moving average of $100.56. 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 (NASDAQ:MMSI) last released its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share (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 company had revenue of $355.35 million during the quarter, compared to analysts’ expectations of $352.57 million. During the same period last year, the firm posted $0.77 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. On average, equities research analysts expect that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on MMSI shares. Raymond James reduced their price target on Merit Medical Systems from $116.00 to $108.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Wells Fargo & Company increased their price target on Merit Medical Systems from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. started coverage on Merit Medical Systems in a research report on Friday, March 28th. They set an “overweight” rating and a $120.00 price target for the company. Needham & Company LLC increased their price target on Merit Medical Systems from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Finally, Barrington Research reduced their price target on Merit Medical Systems from $111.00 to $103.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $109.33.

Institutional Trading of Merit Medical Systems

Several hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its holdings in Merit Medical Systems by 33.5% during the 1st quarter. Intech Investment Management LLC now owns 42,169 shares of the medical instruments supplier’s stock worth $4,458,000 after purchasing an additional 10,582 shares during the last quarter. SageView Advisory Group LLC lifted its holdings in Merit Medical Systems by 3.1% during the 1st quarter. SageView Advisory Group LLC now owns 5,065 shares of the medical instruments supplier’s stock worth $535,000 after purchasing an additional 153 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Merit Medical Systems during the 1st quarter worth approximately $41,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Merit Medical Systems by 73.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 286,943 shares of the medical instruments supplier’s stock worth $30,333,000 after purchasing an additional 121,599 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in Merit Medical Systems during the 1st quarter worth approximately $408,000. 99.66% of the stock is owned by institutional investors and hedge funds.

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.