Merit Medical Systems, Inc. (NASDAQ:MMSI) CEO Fred P. Lampropoulos sold 150,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $30.72, for a total value of $4,608,000.00. Following the completion of the transaction, the chief executive officer now owns 929,991 shares of the company’s stock, valued at approximately $28,569,323.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
MMSI traded up $0.31 during mid-day trading on Monday, reaching $30.93. 768,197 shares of the company traded hands, compared to its average volume of 495,999. The stock has a market capitalization of $1.64 billion, a P/E ratio of 18.30, a P/E/G ratio of 1.40 and a beta of 1.11. The company has a quick ratio of 1.27, a current ratio of 2.42 and a debt-to-equity ratio of 0.48. The company’s fifty day moving average price is $37.73 and its 200-day moving average price is $52.73. Merit Medical Systems, Inc. has a 52-week low of $29.50 and a 52-week high of $66.34.
Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.08). Merit Medical Systems had a return on equity of 10.40% and a net margin of 4.10%. The firm had revenue of $255.50 million during the quarter, compared to analysts’ expectations of $258.58 million. During the same quarter last year, the business earned $0.43 earnings per share. The business’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, sell-side analysts forecast that Merit Medical Systems, Inc. will post 1.79 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in MMSI. Capital Investment Advisory Services LLC purchased a new stake in Merit Medical Systems in the 2nd quarter worth $29,000. Meeder Asset Management Inc. purchased a new position in Merit Medical Systems during the 2nd quarter worth $32,000. Financial Gravity Wealth Inc. raised its position in Merit Medical Systems by 5,241.7% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 641 shares of the medical instruments supplier’s stock valued at $38,000 after purchasing an additional 629 shares in the last quarter. Manchester Capital Management LLC bought a new stake in Merit Medical Systems during the 1st quarter valued at $55,000. Finally, BB&T Corp purchased a new stake in shares of Merit Medical Systems in the 2nd quarter worth $204,000. Institutional investors and hedge funds own 99.81% of the company’s stock.
MMSI has been the topic of a number of research analyst reports. TheStreet downgraded Merit Medical Systems from a “b-” rating to a “c+” rating in a report on Monday, August 26th. Needham & Company LLC downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Wells Fargo & Co downgraded Merit Medical Systems from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $71.00 to $46.00 in a report on Friday, July 26th. Canaccord Genuity decreased their target price on Merit Medical Systems from $63.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Finally, ValuEngine cut shares of Merit Medical Systems from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $60.86.
Merit Medical Systems Company Profile
Merit Medical Systems, Inc manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.
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