Merit Medical Systems, Inc. (NASDAQ:MMSI) Insider Sells $752,400.00 in Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) insider Richard W. Edelman sold 20,000 shares of Merit Medical Systems stock in a transaction on Friday, June 30th. The stock was sold at an average price of $37.62, for a total transaction of $752,400.00. Following the sale, the insider now directly owns 35,000 shares in the company, valued at approximately $1,316,700. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Merit Medical Systems, Inc. (MMSI) opened at 37.55 on Tuesday. The stock has a 50 day moving average of $35.41 and a 200 day moving average of $30.22. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 55.79 and a beta of 1.24. Merit Medical Systems, Inc. has a 12-month low of $20.41 and a 12-month high of $38.55.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Thursday, April 27th. The medical instruments supplier reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.05. Merit Medical Systems had a net margin of 4.80% and a return on equity of 9.36%. The business had revenue of $171.07 million for the quarter, compared to analyst estimates of $163.50 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. Equities research analysts anticipate that Merit Medical Systems, Inc. will post $1.17 earnings per share for the current year.

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Large investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan raised its stake in Merit Medical Systems by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 13,170 shares of the medical instruments supplier’s stock valued at $380,000 after buying an additional 210 shares during the last quarter. Arizona State Retirement System raised its stake in Merit Medical Systems by 1.3% in the first quarter. Arizona State Retirement System now owns 23,244 shares of the medical instruments supplier’s stock valued at $672,000 after buying an additional 300 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Merit Medical Systems by 13.1% in the first quarter. State of Alaska Department of Revenue now owns 5,430 shares of the medical instruments supplier’s stock valued at $156,000 after buying an additional 630 shares during the last quarter. Bbva Compass Bancshares Inc. raised its stake in Merit Medical Systems by 2.8% in the first quarter. Bbva Compass Bancshares Inc. now owns 34,597 shares of the medical instruments supplier’s stock valued at $1,000,000 after buying an additional 957 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Merit Medical Systems by 3.9% in the fourth quarter. Public Sector Pension Investment Board now owns 31,640 shares of the medical instruments supplier’s stock valued at $838,000 after buying an additional 1,200 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have weighed in on MMSI shares. Canaccord Genuity reissued a “buy” rating and set a $33.50 price objective (down from $35.00) on shares of Merit Medical Systems in a report on Monday, March 27th. Piper Jaffray Companies reissued an “overweight” rating on shares of Merit Medical Systems in a report on Wednesday, March 29th. Wells Fargo & Company started coverage on shares of Merit Medical Systems in a report on Wednesday, April 5th. They set an “outperform” rating and a $31.70 price objective for the company. Keefe, Bruyette & Woods reissued a “hold” rating and set a $20.00 price objective on shares of Merit Medical Systems in a report on Thursday, April 6th. Finally, Craig Hallum started coverage on shares of Merit Medical Systems in a report on Monday, April 17th. They set a “buy” rating and a $36.00 price objective for the company. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $36.71.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc is a manufacturer and marketer of disposable medical devices used in a range of interventional, diagnostic and therapeutic medical procedures. The Company operates in two segments: cardiovascular and endoscopy. The cardiovascular segment consists of cardiology and radiology devices, which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases, and includes embolotherapeutic, cardiac rhythm management (CRM), electrophysiology (EP), and interventional oncology and spine devices.

Insider Buying and Selling by Quarter for Merit Medical Systems (NASDAQ:MMSI)

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