Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Stephen C. Evans Sells 5,000 Shares

Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Stephen C. Evans sold 5,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $105.31, for a total transaction of $526,550.00. Following the completion of the sale, the director now directly owns 4,657 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.

Merit Medical Systems Stock Performance

Shares of MMSI stock traded down $1.14 during trading hours on Tuesday, hitting $101.89. The company’s stock had a trading volume of 1,053,340 shares, compared to its average volume of 575,618. The company has a 50 day moving average of $103.09 and a 200 day moving average of $100.26. The stock has a market cap of $5.99 billion, a PE ratio of 49.95, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 12-month low of $70.70 and a 12-month high of $111.45.

Institutional Trading of Merit Medical Systems

Several large investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in Merit Medical Systems during the fourth quarter worth $66,638,000. FMR LLC boosted its holdings in Merit Medical Systems by 70.1% during the third quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock worth $155,879,000 after buying an additional 649,799 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Merit Medical Systems during the fourth quarter worth $48,926,000. Groupama Asset Managment purchased a new stake in Merit Medical Systems during the fourth quarter worth $38,688,000. Finally, Bryn Mawr Capital Management LLC purchased a new stake in Merit Medical Systems during the fourth quarter worth $36,057,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Piper Sandler restated an “overweight” rating and issued a $116.00 price target (up previously from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Raymond James boosted their price target on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 31st. Canaccord Genuity Group reduced 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 report on Wednesday, February 26th. Wells Fargo & Company reduced 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 report on Wednesday, February 26th. Finally, Barrington Research reduced 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 report on Wednesday, February 26th. Two investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.78.

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.