Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Stephen C. Evans Sells 5,000 Shares of Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Stephen C. Evans sold 5,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the completion of the transaction, the director now directly owns 4,657 shares in the company, valued at $490,428.67. This trade represents a 51.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Merit Medical Systems Trading Down 1.1 %

Shares of NASDAQ:MMSI opened at $101.89 on Wednesday. The company has a market cap of $5.99 billion, a P/E ratio of 49.95, a P/E/G ratio of 2.34 and a beta of 0.87. The stock’s 50-day moving average is $103.09 and its 200-day moving average is $100.26. Merit Medical Systems, Inc. has a 52-week low of $70.70 and a 52-week high of $111.45. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36.

Institutional Investors Weigh In On Merit Medical Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. NewSquare Capital LLC acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at about $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Merit Medical Systems during the fourth quarter worth about $52,000. Federated Hermes Inc. grew its position 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 worth $63,000 after buying an additional 381 shares in the last quarter. Group One Trading LLC acquired a new stake in Merit Medical Systems during the fourth quarter worth about $77,000. Finally, Farther Finance Advisors LLC grew its position in Merit Medical Systems by 32.7% during the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after buying an additional 260 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

About Merit Medical Systems

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.