Merit Medical Systems (NASDAQ:MMSI) Chairman Sells $1,702,600.00 in Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) Chairman Fred Lampropoulos sold 20,000 shares of the business’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 completion of the sale, the chairman owned 1,054,955 shares of the company’s stock, valued at $89,808,319.15. The trade was a 1.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Merit Medical Systems Stock Up 2.7%

Shares of NASDAQ MMSI opened at $87.20 on Monday. Merit Medical Systems, Inc. has a one year low of $78.12 and a one year high of $111.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.09 and a quick ratio of 2.66. The firm’s 50 day simple moving average is $83.81 and its two-hundred day simple moving average is $88.49. The stock has a market capitalization of $5.17 billion, a P/E ratio of 44.26, a PEG ratio of 2.62 and a beta of 0.64.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $384.16 million during the quarter, compared to analyst estimates of $371.69 million. During the same period in the previous year, the business posted $0.86 EPS. The business’s quarterly revenue 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, analysts expect that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Merit Medical Systems

Several institutional investors and hedge funds have recently bought and sold shares of MMSI. CWM LLC grew its position in shares of Merit Medical Systems by 134.5% in the 1st quarter. CWM LLC now owns 1,782 shares of the medical instruments supplier’s stock worth $188,000 after buying an additional 1,022 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Merit Medical Systems by 38.5% in the first quarter. Victory Capital Management Inc. now owns 108,301 shares of the medical instruments supplier’s stock worth $11,448,000 after acquiring an additional 30,130 shares during the period. IFP Advisors Inc boosted its holdings in 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 acquiring an additional 287 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in Merit Medical Systems in the first quarter valued at $1,178,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Merit Medical Systems during the 1st quarter valued at $4,514,000. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Analyst Upgrades and Downgrades

MMSI has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Merit Medical Systems in a research note on Monday, November 17th. Piper Sandler restated an “overweight” rating and set a $109.00 price target (up from $105.00) on shares of Merit Medical Systems in a research report on Friday, October 31st. Needham & Company LLC reiterated a “buy” rating and issued a $108.00 price objective on shares of Merit Medical Systems in a research report on Friday, October 31st. Wells Fargo & Company lowered their price objective on Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday, November 14th. Finally, Robert W. Baird set a $103.00 target price on shares of Merit Medical Systems in a report on Friday, October 31st. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.