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

Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Stephen C. Evans sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $105.31, for a total value 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. The trade was a 51.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Merit Medical Systems Stock Performance

Shares of NASDAQ:MMSI opened at $104.85 on Thursday. Merit Medical Systems, Inc. has a 12-month low of $70.70 and a 12-month high of $111.45. The company’s 50 day moving average price is $103.23 and its two-hundred day moving average price is $100.29. The firm has a market cap of $6.17 billion, a PE ratio of 51.40, a PEG ratio of 2.34 and a beta of 0.87. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group dropped their price target on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler restated an “overweight” rating and set a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Wells Fargo & Company reduced their target price 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. Barrington Research lowered their price target on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Needham & Company LLC reduced their price objective on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.78.

Institutional Investors Weigh In On Merit Medical Systems

A number of large investors have recently added to or reduced their stakes in MMSI. Louisiana State Employees Retirement System raised its holdings in Merit Medical Systems by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier’s stock valued at $2,728,000 after acquiring an additional 100 shares in the last quarter. Avantax Advisory Services Inc. increased its position in shares of Merit Medical Systems by 4.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,347 shares of the medical instruments supplier’s stock worth $227,000 after purchasing an additional 103 shares during the period. Tidal Investments LLC raised its stake in Merit Medical Systems by 1.0% in the third quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier’s stock valued at $1,028,000 after purchasing an additional 104 shares in the last quarter. Arizona State Retirement System lifted its position in Merit Medical Systems by 0.8% during the fourth quarter. Arizona State Retirement System now owns 16,869 shares of the medical instruments supplier’s stock worth $1,632,000 after purchasing an additional 137 shares during the period. Finally, Glenmede Trust Co. NA grew its stake in Merit Medical Systems by 0.6% during the third quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier’s stock worth $2,830,000 after buying an additional 170 shares in the last quarter. Institutional investors and hedge funds 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.