Raul Jr. Parra Sells 12,451 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) Stock

Merit Medical Systems, Inc. (NASDAQ:MMSI) CFO Raul Jr. Parra sold 12,451 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $98.81, for a total value of $1,230,283.31. Following the completion of the transaction, the chief financial officer now directly owns 24,201 shares of the company’s stock, valued at $2,391,300.81. This represents a 33.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Merit Medical Systems Stock Performance

MMSI stock opened at $104.85 on Thursday. The company has a market cap of $6.17 billion, a P/E ratio of 51.40, a price-to-earnings-growth 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’s fifty day moving average price is $103.23 and its 200-day moving average price is $100.29.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MMSI shares. Wells Fargo & Company reduced their price objective on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Needham & Company LLC reduced their target price on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Canaccord Genuity Group reduced their target price on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Barrington Research reduced their target price on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Piper Sandler reissued an “overweight” rating and issued a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $110.78.

Hedge Funds Weigh In On Merit Medical Systems

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Merit Medical Systems by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,648,659 shares of the medical instruments supplier’s stock valued at $643,058,000 after purchasing an additional 63,314 shares in the last quarter. State Street Corp lifted its position in Merit Medical Systems by 0.7% during the third quarter. State Street Corp now owns 2,231,701 shares of the medical instruments supplier’s stock valued at $220,559,000 after purchasing an additional 15,098 shares in the last quarter. FMR LLC lifted its position in Merit Medical Systems by 31.6% during the fourth quarter. FMR LLC now owns 2,076,439 shares of the medical instruments supplier’s stock valued at $200,833,000 after purchasing an additional 499,193 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Merit Medical Systems by 2.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,633,246 shares of the medical instruments supplier’s stock valued at $157,968,000 after purchasing an additional 36,489 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Merit Medical Systems by 8.3% during the fourth quarter. Invesco Ltd. now owns 1,535,468 shares of the medical instruments supplier’s stock valued at $148,510,000 after purchasing an additional 118,142 shares in the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Merit Medical Systems Company Profile

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.