Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Raul Jr. Parra Sells 12,451 Shares

Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Raul Jr. Parra sold 12,451 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the transaction, the chief financial officer now directly owns 24,201 shares of the company’s stock, valued at approximately $2,391,300.81. This trade represents a 33.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Merit Medical Systems Price Performance

Merit Medical Systems stock opened at $103.03 on Tuesday. Merit Medical Systems, Inc. has a 1 year low of $70.70 and a 1 year high of $111.45. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The firm has a 50 day moving average price of $103.02 and a 200 day moving average price of $100.18. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 50.51, a PEG ratio of 2.34 and a beta of 0.87.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MMSI. 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 report on Wednesday, February 26th. Needham & Company LLC dropped their price objective 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. 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 research note on Wednesday, January 29th. Wells Fargo & Company decreased their price target on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Barrington Research cut their price objective on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a research report 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.78.

Institutional Trading of Merit Medical Systems

Several institutional investors have recently made changes to their positions in the stock. Barclays PLC raised its position in shares of Merit Medical Systems by 305.4% in the 3rd quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier’s stock worth $11,142,000 after buying an additional 84,923 shares during the period. EULAV Asset Management increased its stake in Merit Medical Systems by 400.0% during the fourth quarter. EULAV Asset Management now owns 115,000 shares of the medical instruments supplier’s stock worth $11,123,000 after acquiring an additional 92,000 shares during the last quarter. Van ECK Associates Corp purchased a new position in shares of Merit Medical Systems in the 3rd quarter worth about $718,000. Fisher Asset Management LLC lifted its stake in shares of Merit Medical Systems by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 221,690 shares of the medical instruments supplier’s stock valued at $21,910,000 after purchasing an additional 6,837 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Merit Medical Systems by 85.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier’s stock worth $56,921,000 after purchasing an additional 265,648 shares during the period. 99.66% of the stock is owned by hedge funds and other institutional investors.

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.