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

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

Merit Medical Systems Trading Up 1.0 %

Shares of Merit Medical Systems stock opened at $103.03 on Tuesday. The firm has a market cap of $6.06 billion, a PE ratio of 50.51, a P/E/G ratio of 2.34 and a beta of 0.87. 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 current ratio of 5.36 and a quick ratio of 3.82. The stock has a fifty day moving average price of $103.02 and a 200-day moving average price of $100.18.

Institutional Trading of Merit Medical Systems

A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Merit Medical Systems in the fourth quarter valued at about $66,638,000. FMR LLC raised its holdings in shares of Merit Medical Systems by 70.1% in the 3rd quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock worth $155,879,000 after purchasing an additional 649,799 shares during the period. Raymond James Financial Inc. purchased a new position in Merit Medical Systems in the fourth quarter valued at approximately $48,926,000. Groupama Asset Managment bought a new position in Merit Medical Systems during the fourth quarter valued at $38,688,000. Finally, Bryn Mawr Capital Management LLC purchased a new stake in Merit Medical Systems in the fourth quarter worth $36,057,000. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Wall Street Analysts Forecast Growth

MMSI has been the topic of several recent research reports. 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. Barrington Research lowered their price objective on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company cut their target price on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Raymond James upped their price target on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 31st. Finally, Piper Sandler restated an “overweight” rating and set a $116.00 price objective (up 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 given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Merit Medical Systems presently has a consensus rating of “Moderate Buy” and an average target price 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.