Merit Medical Systems, Inc. (NASDAQ:MMSI) Director Michael E. Stillabower sold 17,110 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $33.71, for a total value of $576,778.10. Following the transaction, the director now directly owns 52,778 shares of the company’s stock, valued at $1,779,146.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Merit Medical Systems, Inc. (NASDAQ:MMSI) traded up 0.29% on Wednesday, hitting $34.50. The stock had a trading volume of 14,370 shares. Merit Medical Systems, Inc. has a one year low of $18.22 and a one year high of $34.80. The stock has a market cap of $1.72 billion, a P/E ratio of 51.26 and a beta of 0.93. The company’s 50-day moving average is $31.50 and its 200-day moving average is $27.99.
Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, April 27th. The medical instruments supplier reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05. The company had revenue of $171.07 million during the quarter, compared to the consensus estimate of $163.50 million. Merit Medical Systems had a return on equity of 8.85% and a net margin of 3.25%. The company’s revenue was up 23.9% on a year-over-year basis. During the same period last year, the firm earned $0.19 earnings per share. On average, analysts anticipate that Merit Medical Systems, Inc. will post $1.17 earnings per share for the current fiscal year.
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Several research firms recently commented on MMSI. Keefe, Bruyette & Woods reissued a “hold” rating and set a $20.00 target price on shares of Merit Medical Systems in a research note on Thursday, April 6th. Canaccord Genuity reissued a “buy” rating and set a $33.50 target price (down from $35.00) on shares of Merit Medical Systems in a research note on Monday, March 27th. Wells Fargo & Co began coverage on Merit Medical Systems in a research note on Wednesday, April 5th. They set an “outperform” rating and a $31.70 target price for the company. Sidoti reissued a “buy” rating and set a $41.00 target price (up from $35.00) on shares of Merit Medical Systems in a research note on Saturday, April 29th. Finally, Craig Hallum began coverage on Merit Medical Systems in a research note on Monday, April 17th. They set a “buy” rating and a $36.00 target price for the company. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Merit Medical Systems currently has an average rating of “Buy” and an average price target of $33.28.
Several hedge funds have recently made changes to their positions in MMSI. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Merit Medical Systems during the fourth quarter valued at $785,000. State Street Corp increased its stake in shares of Merit Medical Systems by 6.8% in the fourth quarter. State Street Corp now owns 1,197,903 shares of the medical instruments supplier’s stock valued at $31,749,000 after buying an additional 76,795 shares in the last quarter. Comerica Bank increased its stake in shares of Merit Medical Systems by 5.4% in the fourth quarter. Comerica Bank now owns 48,397 shares of the medical instruments supplier’s stock valued at $1,292,000 after buying an additional 2,500 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in Merit Medical Systems by 108.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,919,573 shares of the medical instruments supplier’s stock worth $50,869,000 after buying an additional 1,000,338 shares during the period. Finally, Russell Investments Group Ltd. purchased a new position in Merit Medical Systems during the fourth quarter worth approximately $503,000. Institutional investors own 91.92% of the company’s stock.
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.
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