Insider Selling: Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Sells $1,230,283.31 in Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Raul Jr. Parra sold 12,451 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $98.81, for a total value of $1,230,283.31. Following the transaction, the chief financial officer now owns 24,201 shares of the company’s stock, valued at approximately $2,391,300.81. The trade was a 33.97 % 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 Trading Up 2.9 %

NASDAQ MMSI opened at $104.85 on Thursday. Merit Medical Systems, Inc. has a 1-year low of $70.70 and a 1-year high of $111.45. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average of $103.23 and a 200-day moving average of $100.29. The firm has a market cap of $6.17 billion, a PE ratio of 51.40, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87.

Analyst Upgrades and Downgrades

MMSI has been the subject of several recent analyst reports. Raymond James boosted their target price on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 31st. Piper Sandler restated 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. Needham & Company LLC reduced their target price 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. Wells Fargo & Company dropped their price target on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group dropped their price target on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.78.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewSquare Capital LLC bought a new position in Merit Medical Systems during the 4th quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC bought a new position in Merit Medical Systems during the 4th quarter valued at approximately $52,000. Federated Hermes Inc. raised its position in Merit Medical Systems by 139.1% during the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock valued at $63,000 after purchasing an additional 381 shares during the last quarter. Group One Trading LLC bought a new position in Merit Medical Systems during the 4th quarter valued at approximately $77,000. Finally, Farther Finance Advisors LLC raised its position in Merit Medical Systems by 32.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock valued at $104,000 after purchasing an additional 260 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

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.