Insider Selling: Merit Medical Systems (NASDAQ:MMSI) Chairman Sells 10,000 Shares of Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) Chairman Fred Lampropoulos sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $88.04, for a total value of $880,400.00. Following the completion of the transaction, the chairman directly owned 1,019,955 shares of the company’s stock, valued at $89,796,838.20. This represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Merit Medical Systems Trading Up 0.0%

NASDAQ:MMSI traded up $0.04 during mid-day trading on Wednesday, hitting $87.64. 197,705 shares of the company’s stock were exchanged, compared to its average volume of 650,482. Merit Medical Systems, Inc. has a fifty-two week low of $78.12 and a fifty-two week high of $111.45. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $5.20 billion, a P/E ratio of 44.53, a PEG ratio of 2.62 and a beta of 0.64. The company has a 50 day simple moving average of $83.99 and a 200-day simple moving average of $88.37.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.10. The firm had revenue of $384.16 million during the quarter, compared to the consensus estimate of $371.69 million. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. As a group, research analysts expect that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Analyst Ratings Changes

MMSI has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price target on Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating on the stock in a research report on Friday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $108.00 price objective on shares of Merit Medical Systems in a research note on Friday, October 31st. Barrington Research restated an “outperform” rating and set a $106.00 price target on shares of Merit Medical Systems in a report on Friday, November 14th. Piper Sandler restated an “overweight” rating and set a $109.00 target price (up previously from $105.00) on shares of Merit Medical Systems in a research report on Friday, October 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Merit Medical Systems in a report on Monday. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.50.

Hedge Funds Weigh In On Merit Medical Systems

A number of hedge funds have recently bought and sold shares of the company. Maverick Capital Ltd. purchased a new stake in shares of Merit Medical Systems in the first quarter valued at about $134,517,000. Wellington Management Group LLP grew its position in Merit Medical Systems by 377.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,240,509 shares of the medical instruments supplier’s stock worth $103,248,000 after purchasing an additional 980,823 shares in the last quarter. Nuveen LLC purchased a new stake in Merit Medical Systems in the 1st quarter valued at about $80,679,000. Norges Bank bought a new position in shares of Merit Medical Systems during the 2nd quarter worth approximately $53,697,000. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Merit Medical Systems by 250.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 750,066 shares of the medical instruments supplier’s stock worth $62,428,000 after buying an additional 536,072 shares during the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

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.