Merit Medical Systems, Inc. (NASDAQ:MMSI) Insider Brian G. Lloyd Sells 30,000 Shares

Merit Medical Systems, Inc. (NASDAQ:MMSI) insider Brian G. Lloyd sold 30,000 shares of Merit Medical Systems stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $102.90, for a total value of $3,087,000.00. Following the sale, the insider now owns 38,945 shares of the company’s stock, valued at approximately $4,007,440.50. This represents a 43.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Merit Medical Systems Stock Performance

MMSI opened at $101.73 on Friday. Merit Medical Systems, Inc. has a 12-month low of $70.70 and a 12-month high of $111.45. The firm has a market capitalization of $5.99 billion, a P/E ratio of 49.87, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. The stock’s 50 day moving average price is $103.29 and its two-hundred day moving average price is $100.30. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

Hedge Funds Weigh In On Merit Medical Systems

A number of institutional investors and hedge funds have recently bought and sold shares of MMSI. NewSquare Capital LLC bought a new stake in Merit Medical Systems in the 4th quarter valued at $32,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Merit Medical Systems in the fourth quarter valued at about $52,000. Federated Hermes Inc. grew its position in Merit Medical Systems by 139.1% during the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock worth $63,000 after buying an additional 381 shares in the last quarter. Group One Trading LLC bought a new position in Merit Medical Systems during the fourth quarter valued at about $77,000. Finally, Farther Finance Advisors LLC increased its stake in Merit Medical Systems by 32.7% during the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock valued at $104,000 after acquiring an additional 260 shares during the period. Institutional investors own 99.66% of the company’s stock.

Wall Street Analyst Weigh In

MMSI has been the subject of a number of analyst reports. Raymond James lifted their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 31st. Piper Sandler reissued an “overweight” rating and set a $116.00 target price (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Canaccord Genuity Group cut 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. Needham & Company LLC decreased their price target on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Barrington Research cut 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. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.