Merit Medical Systems (NASDAQ:MMSI) Hits New 52-Week Low Following Insider Selling

Merit Medical Systems, Inc. (NASDAQ:MMSI)’s share price reached a new 52-week low on Tuesday after an insider sold shares in the company. The company traded as low as $59.74 and last traded at $60.1640, with a volume of 224833 shares trading hands. The stock had previously closed at $60.31.

Specifically, Director Lynne N. Ward sold 5,000 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $62.61, for a total value of $313,050.00. Following the completion of the sale, the director directly owned 7,809 shares in the company, valued at approximately $488,921.49. This represents a 39.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on Merit Medical Systems from $95.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Barrington Research dropped their price objective on Merit Medical Systems from $109.00 to $107.00 and set an “outperform” rating on the stock in a research note on Monday, April 20th. Piper Sandler reduced their price objective on Merit Medical Systems from $106.00 to $96.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. Needham & Company LLC decreased their target price on shares of Merit Medical Systems from $101.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Robert W. Baird set a $83.00 price objective on Merit Medical Systems in a report on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.80.

Merit Medical Systems Stock Down 0.0%

The stock has a market capitalization of $3.60 billion, a P/E ratio of 26.03, a PEG ratio of 1.91 and a beta of 0.58. The business has a 50-day simple moving average of $68.73 and a two-hundred day simple moving average of $79.04. The company has a quick ratio of 3.46, a current ratio of 5.08 and a debt-to-equity ratio of 0.45.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.10. The company had revenue of $381.88 million during the quarter, compared to analyst estimates of $377.59 million. Merit Medical Systems had a net margin of 9.03% and a return on equity of 13.54%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $0.86 earnings per share. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. Equities research analysts forecast that Merit Medical Systems, Inc. will post 3.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Merit Medical Systems

A number of large investors have recently modified their holdings of the business. AQR Capital Management LLC grew its stake in shares of Merit Medical Systems by 7.3% during the first quarter. AQR Capital Management LLC now owns 16,361 shares of the medical instruments supplier’s stock worth $1,730,000 after buying an additional 1,114 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Merit Medical Systems by 16.9% during the first quarter. Goldman Sachs Group Inc. now owns 719,313 shares of the medical instruments supplier’s stock worth $76,039,000 after purchasing an additional 103,878 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Merit Medical Systems by 745.9% in the second quarter. EverSource Wealth Advisors LLC now owns 922 shares of the medical instruments supplier’s stock worth $86,000 after purchasing an additional 813 shares during the last quarter. First Trust Advisors LP increased its holdings in Merit Medical Systems by 24.8% in the second quarter. First Trust Advisors LP now owns 59,215 shares of the medical instruments supplier’s stock valued at $5,535,000 after purchasing an additional 11,770 shares during the period. Finally, Cerity Partners LLC raised its position in Merit Medical Systems by 9.1% during the 2nd quarter. Cerity Partners LLC now owns 3,019 shares of the medical instruments supplier’s stock worth $282,000 after purchasing an additional 251 shares during the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc is a global manufacturer and marketer of a broad range of medical devices used in diagnostic and interventional procedures. The company’s product portfolio encompasses vascular access, drainage, embolotherapy, and interventional oncology devices, as well as radiofrequency ablation systems and hemostasis solutions. These products serve physicians and hospitals in critical care settings and support minimally invasive treatment options across multiple specialties, including cardiology, radiology, oncology, neurology and endoscopy.

Founded in 1987 by Fred Lampropoulos, Merit Medical Systems has grown through both organic development and targeted acquisitions to expand its technology offerings and geographic reach.