Insider Selling: Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Sells 12,451 Shares of Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Raul Jr. Parra sold 12,451 shares of Merit Medical Systems stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $98.81, for a total value of $1,230,283.31. Following the completion of the transaction, the chief financial officer now owns 24,201 shares of the company’s stock, valued at approximately $2,391,300.81. This trade represents a 33.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Merit Medical Systems Trading Up 1.0 %

Shares of NASDAQ:MMSI traded up $0.99 during trading on Monday, reaching $103.03. 1,123,973 shares of the company were exchanged, compared to its average volume of 565,682. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The firm has a market capitalization of $6.06 billion, a PE ratio of 50.51, a P/E/G ratio of 2.34 and a beta of 0.87. The business’s fifty day simple moving average is $103.02 and its 200-day simple moving average is $100.18. Merit Medical Systems, Inc. has a 12-month low of $70.70 and a 12-month high of $111.45.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Merit Medical Systems during the 4th quarter worth $66,638,000. FMR LLC grew its holdings in Merit Medical Systems by 70.1% during the 3rd quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock worth $155,879,000 after acquiring an additional 649,799 shares in the last quarter. Raymond James Financial Inc. bought a new position in Merit Medical Systems during the 4th quarter worth about $48,926,000. Groupama Asset Managment purchased a new position in Merit Medical Systems during the 4th quarter valued at about $38,688,000. Finally, Bryn Mawr Capital Management LLC bought a new stake in shares of Merit Medical Systems in the 4th quarter valued at about $36,057,000. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on MMSI shares. Needham & Company LLC dropped 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 research note on Wednesday, February 26th. Wells Fargo & Company lowered their target price 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. Canaccord Genuity Group cut 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. Piper Sandler reissued an “overweight” rating and issued a $116.00 price objective (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Finally, Barrington Research dropped their target price on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Two equities 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. According to MarketBeat.com, the stock currently 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.