Merit Medical Systems, Inc. (NASDAQ:MMSI) Insider Brian G. Lloyd Sells 25,000 Shares of Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) insider Brian G. Lloyd sold 25,000 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $99.50, for a total value of $2,487,500.00. Following the completion of the sale, the insider now owns 38,993 shares of the company’s stock, valued at $3,879,803.50. The trade was a 39.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Merit Medical Systems Price Performance

Merit Medical Systems stock opened at $103.03 on Tuesday. The stock’s 50 day moving average price is $103.02 and its two-hundred day moving average price is $100.18. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 50.51, a PEG ratio of 2.34 and a beta of 0.87. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. Merit Medical Systems, Inc. has a 52-week low of $70.70 and a 52-week high of $111.45.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MMSI. NewSquare Capital LLC bought a new stake in Merit Medical Systems in the fourth quarter valued at $32,000. Kohmann Bosshard Financial Services LLC bought a new stake in Merit Medical Systems in the 4th quarter valued at about $52,000. Federated Hermes Inc. raised its stake 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 worth $63,000 after buying an additional 381 shares during the period. Group One Trading LLC acquired a new position in Merit Medical Systems during the 4th quarter worth approximately $77,000. Finally, Farther Finance Advisors LLC boosted its holdings 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 worth $104,000 after acquiring an additional 260 shares in the last quarter. 99.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MMSI has been the topic of a number of analyst reports. Barrington Research reduced their price target on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler reiterated an “overweight” rating and issued a $116.00 target price (up from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Raymond James increased their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 31st. Needham & Company LLC dropped their price target on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group reduced their price objective on shares of 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. 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.78.

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.