Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Sells $526,550.00 in Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Stephen C. Evans sold 5,000 shares of the firm’s 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 owns 4,657 shares of the company’s stock, valued at $490,428.67. The trade was a 51.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Merit Medical Systems Stock Down 3.0 %

Shares of Merit Medical Systems stock opened at $101.73 on Friday. The stock has a 50-day simple moving average of $103.29 and a 200-day simple moving average of $100.30. Merit Medical Systems, Inc. has a 52-week low of $70.70 and a 52-week high of $111.45. 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 cap of $5.99 billion, a price-to-earnings ratio of 49.87, a P/E/G ratio of 2.34 and a beta of 0.87.

Institutional Investors Weigh In On Merit Medical Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Peak Retirement Planning Inc. acquired a new stake in Merit Medical Systems in the 4th quarter worth approximately $875,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Merit Medical Systems by 17.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,344 shares of the medical instruments supplier’s stock worth $15,992,000 after purchasing an additional 24,528 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in Merit Medical Systems in the 4th quarter worth approximately $424,000. Virtus Investment Advisers Inc. lifted its holdings in Merit Medical Systems by 45.7% in the 4th quarter. Virtus Investment Advisers Inc. now owns 11,192 shares of the medical instruments supplier’s stock worth $1,082,000 after purchasing an additional 3,513 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in Merit Medical Systems by 3,197.9% in the 4th quarter. Tidal Investments LLC now owns 342,912 shares of the medical instruments supplier’s stock worth $33,166,000 after purchasing an additional 332,514 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on MMSI shares. Needham & Company LLC decreased their price objective on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Canaccord Genuity Group decreased their price objective on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Raymond James lifted their price target on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 31st. Finally, Piper Sandler reiterated an “overweight” rating and set a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued 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.

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.