Insider Selling: Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Sells 5,000 Shares of Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Stephen C. Evans sold 5,000 shares of Merit Medical Systems stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $105.31, for a total value of $526,550.00. Following the sale, the director now directly owns 4,657 shares in the company, valued at approximately $490,428.67. This trade represents a 51.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Merit Medical Systems Stock Performance

NASDAQ:MMSI opened at $101.89 on Wednesday. Merit Medical Systems, Inc. has a 1 year low of $70.70 and a 1 year high of $111.45. The firm has a 50 day moving average of $103.09 and a 200-day moving average of $100.26. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $5.99 billion, a P/E ratio of 49.95, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Barrington Research cut their price target on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company cut their price target on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research note 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 for the company in a research note on Wednesday, February 26th. Needham & Company LLC cut their price target 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. Finally, Raymond James raised their price target on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 31st. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.78.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MMSI. NewSquare Capital LLC acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at approximately $52,000. Federated Hermes Inc. increased its holdings in shares of Merit Medical Systems by 139.1% in the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock valued at $63,000 after purchasing an additional 381 shares in the last quarter. Group One Trading LLC acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at approximately $77,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Merit Medical Systems by 32.7% in the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock valued at $104,000 after purchasing an additional 260 shares in the last quarter. Institutional investors own 99.66% of the company’s stock.

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.