Merit Medical Systems, Inc. (NASDAQ:MMSI) Director David Floyd Sells 3,515 Shares of Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) Director David Floyd sold 3,515 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $94.16, for a total transaction of $330,972.40. Following the transaction, the director now owns 4,880 shares of the company’s stock, valued at $459,500.80. This trade represents a 41.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock opened at $94.60 on Wednesday. The firm has a fifty day simple moving average of $95.39 and a 200-day simple moving average of $100.12. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 1-year low of $80.02 and a 1-year high of $111.45. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 46.37, a PEG ratio of 2.34 and a beta of 0.70.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Robert W. Baird decreased their price target on shares of Merit Medical Systems from $111.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Piper Sandler restated an “overweight” rating and set a $110.00 price objective (up previously from $106.00) on shares of Merit Medical Systems in a research report on Friday, May 23rd. Barrington Research cut their price target on shares of Merit Medical Systems from $111.00 to $103.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Canaccord Genuity Group set a $112.00 target price on shares of Merit Medical Systems and gave the company a “buy” rating in a report on Wednesday, May 21st. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $108.00 price target (up from $106.00) on shares of Merit Medical Systems in a research note on Wednesday, May 21st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $109.11.

Institutional Investors Weigh In On Merit Medical Systems

Hedge funds have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC bought a new position in shares of Merit Medical Systems in the 1st quarter valued at about $31,000. NewSquare Capital LLC acquired a new stake in Merit Medical Systems during the 4th quarter worth approximately $32,000. IFP Advisors Inc raised its holdings in shares of Merit Medical Systems by 1,435.0% in the first quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier’s stock valued at $32,000 after purchasing an additional 287 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Merit Medical Systems by 119.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in Merit Medical Systems during the first quarter worth $41,000. Institutional investors 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.