Insider Selling: Merit Medical Systems, Inc. (NASDAQ:MMSI) COO Sells $232,400.00 in Stock

Merit Medical Systems, Inc. (NASDAQ:MMSIGet Rating) COO Neil Peterson sold 4,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $58.10, for a total transaction of $232,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $59.94 on Friday. The company has a market capitalization of $3.40 billion, a PE ratio of 58.76, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. Merit Medical Systems, Inc. has a one year low of $50.46 and a one year high of $73.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.52 and a quick ratio of 1.33. The company’s fifty day moving average price is $55.72 and its 200 day moving average price is $59.67.

Merit Medical Systems (NASDAQ:MMSIGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The medical instruments supplier reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.15. The company had revenue of $294.98 million for the quarter, compared to analyst estimates of $280.55 million. Merit Medical Systems had a net margin of 5.24% and a return on equity of 13.74%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business posted $0.62 EPS. As a group, analysts expect that Merit Medical Systems, Inc. will post 2.48 earnings per share for the current year.

Institutional Trading of Merit Medical Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Merit Medical Systems by 0.8% in the 1st quarter. BlackRock Inc. now owns 8,398,265 shares of the medical instruments supplier’s stock worth $558,652,000 after purchasing an additional 63,749 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Merit Medical Systems by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 5,801,870 shares of the medical instruments supplier’s stock valued at $385,940,000 after acquiring an additional 64,089 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in shares of Merit Medical Systems by 1.0% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,535,932 shares of the medical instruments supplier’s stock valued at $168,690,000 after acquiring an additional 25,145 shares in the last quarter. State Street Corp boosted its position in shares of Merit Medical Systems by 3.2% during the 4th quarter. State Street Corp now owns 1,914,449 shares of the medical instruments supplier’s stock valued at $119,270,000 after acquiring an additional 58,884 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in shares of Merit Medical Systems by 1.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,195,347 shares of the medical instruments supplier’s stock valued at $79,514,000 after acquiring an additional 13,198 shares in the last quarter. 95.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MMSI shares. StockNews.com upgraded shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 13th. Barrington Research cut their target price on shares of Merit Medical Systems from $82.00 to $78.00 in a research report on Thursday, April 28th. Canaccord Genuity Group cut their target price on shares of Merit Medical Systems from $74.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, August 1st. Piper Sandler cut their price target on shares of Merit Medical Systems from $75.00 to $70.00 in a report on Friday, July 1st. Finally, TheStreet downgraded shares of Merit Medical Systems from a “b-” rating to a “c+” rating in a report on Wednesday, May 11th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $72.33.

Merit Medical Systems Company Profile

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Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. The company operates in two segments, Cardiovascular and Endoscopy.

Further Reading

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