Insider Selling: Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Sells 5,361 Shares of Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Raul Jr. Parra sold 5,361 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $103.58, for a total transaction of $555,292.38. Following the completion of the sale, the chief financial officer now directly owns 24,201 shares of the company’s stock, valued at approximately $2,506,739.58. The trade was a 18.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Raul Jr. Parra also recently made the following trade(s):

• On Friday, February 28th, Raul Jr. Parra sold 12,451 shares of Merit Medical Systems stock. The stock was sold at an average price of $98.81, for a total transaction of $1,230,283.31.

Merit Medical Systems Price Performance

NASDAQ MMSI opened at $99.95 on Friday. The firm’s fifty day simple moving average is $103.35 and its two-hundred day simple moving average is $100.36. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. 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 $5.88 billion, a P/E ratio of 49.00, a P/E/G ratio of 2.34 and a beta of 0.87.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Canaccord Genuity Group decreased their price target 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. Needham & Company LLC cut 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. Wells Fargo & Company cut their price objective on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Piper Sandler reissued an “overweight” rating and set a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Finally, Raymond James lifted their price objective on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 31st. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given 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.

Hedge Funds Weigh In On Merit Medical Systems

Several institutional investors and hedge funds have recently bought and sold shares of the company. Peak Retirement Planning Inc. purchased a new position in Merit Medical Systems in the fourth quarter worth $875,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Merit Medical Systems by 17.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,344 shares of the medical instruments supplier’s stock worth $15,992,000 after purchasing an additional 24,528 shares during the last quarter. iSAM Funds UK Ltd purchased a new position in Merit Medical Systems in the fourth quarter worth $424,000. Virtus Investment Advisers Inc. grew its holdings in shares of Merit Medical Systems by 45.7% during the fourth quarter. Virtus Investment Advisers Inc. now owns 11,192 shares of the medical instruments supplier’s stock valued at $1,082,000 after buying an additional 3,513 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Merit Medical Systems by 3,197.9% during the fourth quarter. Tidal Investments LLC now owns 342,912 shares of the medical instruments supplier’s stock valued at $33,166,000 after buying an additional 332,514 shares during the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

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.