Merit Medical Systems (NASDAQ:MMSI) Chairman Fred Lampropoulos Sells 20,000 Shares

Merit Medical Systems, Inc. (NASDAQ:MMSI) Chairman Fred Lampropoulos sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $85.13, for a total value of $1,702,600.00. Following the transaction, the chairman directly owned 1,054,955 shares in the company, valued at $89,808,319.15. The trade was a 1.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Merit Medical Systems Stock Up 2.1%

MMSI stock traded up $1.76 during midday trading on Friday, reaching $86.64. 137,127 shares of the company’s stock traded hands, compared to its average volume of 649,149. Merit Medical Systems, Inc. has a 52 week low of $78.12 and a 52 week high of $111.45. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 43.98, a P/E/G ratio of 2.62 and a beta of 0.64. The firm’s fifty day moving average price is $83.77 and its 200-day moving average price is $88.61. The company has a quick ratio of 2.66, a current ratio of 4.09 and a debt-to-equity ratio of 0.49.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 EPS for the quarter, topping the consensus estimate of $0.82 by $0.10. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The company had revenue of $384.16 million during the quarter, compared to the consensus estimate of $371.69 million. During the same period in the previous year, the firm posted $0.86 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. As a group, sell-side analysts forecast that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Merit Medical Systems

A number of institutional investors have recently added to or reduced their stakes in MMSI. Danske Bank A S bought a new stake in shares of Merit Medical Systems during the 3rd quarter valued at about $42,000. Oberweis Asset Management Inc. lifted its position in Merit Medical Systems by 9.0% during the third quarter. Oberweis Asset Management Inc. now owns 232,010 shares of the medical instruments supplier’s stock valued at $19,310,000 after purchasing an additional 19,200 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Merit Medical Systems by 0.4% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 50,667 shares of the medical instruments supplier’s stock worth $4,095,000 after buying an additional 189 shares in the last quarter. PharVision Advisers LLC bought a new position in shares of Merit Medical Systems in the 3rd quarter worth $265,000. Finally, Dark Forest Capital Management LP raised its position in shares of Merit Medical Systems by 405.8% during the 3rd quarter. Dark Forest Capital Management LP now owns 32,259 shares of the medical instruments supplier’s stock valued at $2,685,000 after buying an additional 25,881 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and set a $109.00 price target (up previously from $105.00) on shares of Merit Medical Systems in a research report on Friday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $108.00 price objective on shares of Merit Medical Systems in a research note on Friday, October 31st. Robert W. Baird set a $103.00 target price on shares of Merit Medical Systems in a research report on Friday, October 31st. Barrington Research reissued an “outperform” rating and issued a $106.00 price target on shares of Merit Medical Systems in a research report on Friday, November 14th. Finally, Zacks Research downgraded shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.50.

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.