Insider Selling: Merit Medical Systems, Inc. (MMSI) Director Sells $546,033.56 in Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) Director F. Ann Millner sold 9,593 shares of the business’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $56.92, for a total transaction of $546,033.56. Following the transaction, the director now owns 7,891 shares in the company, valued at $449,155.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of MMSI stock opened at $59.69 on Monday. The company has a current ratio of 2.77, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Merit Medical Systems, Inc. has a 12 month low of $36.21 and a 12 month high of $66.34. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 46.63, a PEG ratio of 2.80 and a beta of 1.19.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Thursday, October 25th. The medical instruments supplier reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. Merit Medical Systems had a net margin of 4.72% and a return on equity of 10.86%. The company had revenue of $221.66 million for the quarter, compared to the consensus estimate of $217.62 million. On average, research analysts anticipate that Merit Medical Systems, Inc. will post 1.66 EPS for the current fiscal year.

A number of research firms recently weighed in on MMSI. ValuEngine upgraded shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 24th. Zacks Investment Research upgraded shares of Merit Medical Systems from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Barrington Research boosted their price target on shares of Merit Medical Systems from $50.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 24th. Needham & Company LLC boosted their price target on shares of Merit Medical Systems from $67.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Finally, Bank of America lowered shares of Merit Medical Systems from a “buy” rating to an “underperform” rating and set a $64.00 price target on the stock. in a research report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $68.10.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in Merit Medical Systems by 11.0% during the second quarter. BlackRock Inc. now owns 7,045,772 shares of the medical instruments supplier’s stock worth $360,744,000 after purchasing an additional 698,458 shares during the period. Eagle Asset Management Inc. raised its stake in Merit Medical Systems by 8.0% during the second quarter. Eagle Asset Management Inc. now owns 2,026,120 shares of the medical instruments supplier’s stock worth $103,737,000 after purchasing an additional 150,902 shares during the period. Partner Fund Management L.P. raised its stake in Merit Medical Systems by 69.9% during the second quarter. Partner Fund Management L.P. now owns 1,455,616 shares of the medical instruments supplier’s stock worth $74,528,000 after purchasing an additional 598,822 shares during the period. Macquarie Group Ltd. raised its stake in shares of Merit Medical Systems by 5.6% in the 2nd quarter. Macquarie Group Ltd. now owns 1,079,066 shares of the medical instruments supplier’s stock valued at $55,248,000 after acquiring an additional 57,510 shares during the period. Finally, Carillon Tower Advisers Inc. raised its stake in shares of Merit Medical Systems by 22.2% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 1,068,907 shares of the medical instruments supplier’s stock valued at $54,728,000 after acquiring an additional 194,196 shares during the period. 86.88% of the stock is currently owned by institutional investors.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets various disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.

Further Reading: Why do earnings reports matter?

Insider Buying and Selling by Quarter for Merit Medical Systems (NASDAQ:MMSI)

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