Merit Medical Systems, Inc. (NASDAQ:MMSI) Insider Sells $2,487,500.00 in Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) insider Brian G. Lloyd sold 25,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the completion of the transaction, the insider now owns 38,993 shares in the company, valued at approximately $3,879,803.50. The trade was a 39.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Merit Medical Systems Trading Up 2.9 %

Shares of MMSI opened at $104.85 on Thursday. Merit Medical Systems, Inc. has a twelve month low of $70.70 and a twelve month high of $111.45. The stock has a market cap of $6.17 billion, a PE ratio of 51.40, a P/E/G ratio of 2.34 and a beta of 0.87. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $103.23 and its 200-day moving average price is $100.29.

Institutional Trading of Merit Medical Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of MMSI. NewSquare Capital LLC purchased a new position in shares of Merit Medical Systems during the 4th quarter valued at $32,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Merit Medical Systems in the fourth quarter worth $52,000. Federated Hermes Inc. boosted its stake in Merit Medical Systems by 139.1% during the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock valued at $63,000 after buying an additional 381 shares during the period. Group One Trading LLC purchased a new position in Merit Medical Systems during the fourth quarter worth about $77,000. Finally, Farther Finance Advisors LLC increased its stake in Merit Medical Systems by 32.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after acquiring an additional 260 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MMSI shares. Canaccord Genuity Group lowered their price target on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company lowered their target price on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler reiterated an “overweight” rating and set a $116.00 price target (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Barrington Research lowered their price objective on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, Needham & Company LLC dropped their price objective on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Merit Medical Systems currently has an average rating of “Moderate Buy” and an average target price of $110.78.

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.