Raul Jr. Parra Sells 15,181 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Raul Jr. Parra sold 15,181 shares of the company’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $93.75, for a total value of $1,423,218.75. Following the completion of the sale, the chief financial officer now directly owns 24,201 shares of the company’s stock, valued at $2,268,843.75. The trade was a 38.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Merit Medical Systems Trading Up 0.1%

NASDAQ:MMSI opened at $92.95 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.26 and a current ratio of 4.87. Merit Medical Systems, Inc. has a one year low of $80.84 and a one year high of $111.45. The business’s 50-day simple moving average is $94.50 and its 200 day simple moving average is $99.38. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 45.56, a price-to-earnings-growth ratio of 3.06 and a beta of 0.66.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, topping the consensus estimate of $0.75 by $0.11. Merit Medical Systems had a return on equity of 15.52% and a net margin of 8.81%. The business had revenue of $355.35 million for the quarter, compared to analysts’ expectations of $352.57 million. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts predict that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Institutional Trading of Merit Medical Systems

Several institutional investors and hedge funds have recently bought and sold shares of MMSI. Principal Securities Inc. raised its stake in Merit Medical Systems by 28.0% during the fourth quarter. Principal Securities Inc. now owns 2,342 shares of the medical instruments supplier’s stock valued at $227,000 after buying an additional 513 shares in the last quarter. Principal Financial Group Inc. raised its stake in Merit Medical Systems by 3.9% during the fourth quarter. Principal Financial Group Inc. now owns 312,020 shares of the medical instruments supplier’s stock valued at $30,179,000 after buying an additional 11,756 shares in the last quarter. Truist Financial Corp raised its stake in Merit Medical Systems by 16.3% during the fourth quarter. Truist Financial Corp now owns 12,454 shares of the medical instruments supplier’s stock valued at $1,205,000 after buying an additional 1,744 shares in the last quarter. New York State Common Retirement Fund raised its stake in Merit Medical Systems by 0.6% during the fourth quarter. New York State Common Retirement Fund now owns 168,367 shares of the medical instruments supplier’s stock valued at $16,284,000 after buying an additional 972 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC acquired a new stake in Merit Medical Systems during the fourth quarter valued at approximately $36,057,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Analyst Ratings Changes

MMSI has been the subject of several analyst reports. Needham & Company LLC upped their target price on 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 reaffirmed an “overweight” rating and issued a $108.00 target price (up previously from $106.00) on shares of Merit Medical Systems in a research report on Wednesday, May 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price (up previously from $106.00) on shares of Merit Medical Systems in a research report on Friday, May 23rd. Barrington Research decreased their target price 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. Finally, Robert W. Baird decreased their target price on Merit Medical Systems from $111.00 to $110.00 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $109.11.

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.