Insider Selling: Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Sells 6,744 Shares of Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) Director F. Ann Millner sold 6,744 shares of the stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $38.15, for a total transaction of $257,283.60. Following the transaction, the director now owns 4,247 shares in the company, valued at $162,023.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Merit Medical Systems, Inc. (NASDAQ MMSI) traded up 0.86% during mid-day trading on Friday, hitting $41.05. 603,163 shares of the stock were exchanged. The company has a 50-day moving average price of $37.47 and a 200-day moving average price of $31.94. Merit Medical Systems, Inc. has a one year low of $20.70 and a one year high of $42.25. The company has a market cap of $2.05 billion, a P/E ratio of 61.00 and a beta of 1.25.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. Merit Medical Systems had a return on equity of 9.36% and a net margin of 4.80%. The company had revenue of $186.50 million during the quarter, compared to the consensus estimate of $181.46 million. During the same period in the prior year, the company earned $0.26 earnings per share. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. On average, analysts predict that Merit Medical Systems, Inc. will post $1.24 earnings per share for the current fiscal year.

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MMSI has been the topic of several research reports. Craig Hallum restated a “buy” rating and issued a $50.00 price target (up previously from $42.00) on shares of Merit Medical Systems in a report on Thursday. Keefe, Bruyette & Woods restated a “hold” rating and issued a $20.00 price target on shares of Merit Medical Systems in a report on Thursday, April 6th. Zacks Investment Research upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Thursday, June 22nd. SunTrust Banks, Inc. initiated coverage on shares of Merit Medical Systems in a report on Tuesday, June 20th. They issued a “buy” rating and a $43.00 price target on the stock. Finally, Sidoti restated a “buy” rating and issued a $41.00 price target (up previously from $35.00) on shares of Merit Medical Systems in a report on Saturday, April 29th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.74.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Merit Medical Systems by 7,837.9% in the first quarter. BlackRock Inc. now owns 6,789,527 shares of the medical instruments supplier’s stock valued at $196,218,000 after buying an additional 6,703,994 shares during the period. Vanguard Group Inc. increased its position in Merit Medical Systems by 16.1% in the first quarter. Vanguard Group Inc. now owns 4,186,883 shares of the medical instruments supplier’s stock worth $121,001,000 after buying an additional 580,871 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Merit Medical Systems by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,695,522 shares of the medical instruments supplier’s stock worth $71,431,000 after buying an additional 80,045 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in Merit Medical Systems by 14.3% in the first quarter. Frontier Capital Management Co. LLC now owns 2,193,723 shares of the medical instruments supplier’s stock worth $63,399,000 after buying an additional 274,150 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Merit Medical Systems by 11.8% in the first quarter. Ameriprise Financial Inc. now owns 1,677,925 shares of the medical instruments supplier’s stock worth $48,491,000 after buying an additional 177,548 shares during the last quarter. Institutional investors own 91.55% of the company’s stock.

About Merit Medical Systems

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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