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

Merit Medical Systems, Inc. (NASDAQ:MMSI) Chairman Fred Lampropoulos sold 5,000 shares of Merit Medical Systems stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $84.83, for a total transaction of $424,150.00. Following the completion of the transaction, the chairman directly owned 1,074,955 shares in the company, valued at approximately $91,188,432.65. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Merit Medical Systems Trading Up 1.4%

MMSI traded up $1.19 during trading on Thursday, hitting $84.88. 550,025 shares of the stock traded hands, compared to its average volume of 651,573. The firm has a market capitalization of $5.03 billion, a P/E ratio of 43.09, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64. Merit Medical Systems, Inc. has a 12-month low of $78.12 and a 12-month high of $111.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.09 and a quick ratio of 2.66. The firm has a 50-day moving average of $83.88 and a 200 day moving average of $88.63.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. The firm had revenue of $384.16 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 earnings per share. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. Equities research analysts anticipate that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. CWM LLC grew its holdings in Merit Medical Systems by 134.5% in the first quarter. CWM LLC now owns 1,782 shares of the medical instruments supplier’s stock worth $188,000 after purchasing an additional 1,022 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Merit Medical Systems by 38.5% during the first quarter. Victory Capital Management Inc. now owns 108,301 shares of the medical instruments supplier’s stock valued at $11,448,000 after purchasing an additional 30,130 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Merit Medical Systems by 1,435.0% in the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 287 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Merit Medical Systems by 11.2% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 35,686 shares of the medical instruments supplier’s stock worth $3,773,000 after buying an additional 3,597 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new position in Merit Medical Systems during the 1st quarter valued at approximately $1,178,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Raymond James Financial cut their price objective on Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Wells Fargo & Company reduced their price objective on shares of 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. Piper Sandler reaffirmed an “overweight” rating and issued a $109.00 target price (up from $105.00) on shares of Merit Medical Systems in a research report on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Merit Medical Systems in a research report on Monday. Finally, Needham & Company LLC restated a “buy” rating and issued a $108.00 price objective on shares of Merit Medical Systems in a report on Friday, October 31st. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.50.

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.