Insider Selling: Merit Medical Systems, Inc. (NASDAQ:MMSI) CEO Sells $3,252,895.20 in Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) CEO Fred P. Lampropoulos sold 31,320 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $103.86, for a total value of $3,252,895.20. Following the transaction, the chief executive officer now owns 1,086,028 shares in the company, valued at $112,794,868.08. This trade represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $99.95 on Friday. Merit Medical Systems, Inc. has a 12 month low of $70.70 and a 12 month 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 business’s 50 day simple moving average is $103.35 and its 200-day simple moving average is $100.43. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 49.00, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Barrington Research reduced their price objective on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Canaccord Genuity Group dropped their target price on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Piper Sandler reissued an “overweight” rating and issued a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Needham & Company LLC dropped their target price on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their price objective on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Two research 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.78.

Institutional Investors Weigh In On Merit Medical Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Peak Retirement Planning Inc. purchased a new stake in Merit Medical Systems in the 4th quarter valued at approximately $875,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 valued at $15,992,000 after buying an additional 24,528 shares in the last quarter. iSAM Funds UK Ltd acquired a new position in Merit Medical Systems in the 4th quarter valued at $424,000. Virtus Investment Advisers Inc. raised 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 valued at $1,082,000 after acquiring an additional 3,513 shares during the last quarter. Finally, Tidal Investments LLC raised 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 valued at $33,166,000 after acquiring an additional 332,514 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

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.