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 stock in a transaction dated Monday, March 3rd. The stock was 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 owns 4,657 shares of the company’s stock, valued at $490,428.67. This trade represents a 51.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Merit Medical Systems Trading Up 2.9 %

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. NewSquare Capital LLC acquired a new position in shares of Merit Medical Systems during the 4th quarter worth approximately $32,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Merit Medical Systems in the fourth quarter valued at $52,000. Federated Hermes Inc. increased its holdings 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 during the last quarter. Group One Trading LLC bought a new stake in Merit Medical Systems during the fourth quarter worth $77,000. Finally, Farther Finance Advisors LLC lifted its stake in Merit Medical Systems by 32.7% in 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 last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on MMSI. Wells Fargo & Company decreased their price objective on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Raymond James increased their price objective on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 31st. Needham & Company LLC dropped their price objective on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Canaccord Genuity Group reduced their target price on shares of 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. Finally, Piper Sandler reissued an “overweight” rating and issued a $116.00 price target (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Two equities 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.