Merit Medical Systems (NASDAQ:MMSI) Trading Up 7.8%

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) were up 7.8% during mid-day trading on Tuesday . The company traded as high as $31.70 and last traded at $30.17, approximately 682,105 shares changed hands during trading. A decline of 4% from the average daily volume of 706,867 shares. The stock had previously closed at $27.98.

Several analysts have recently commented on MMSI shares. BidaskClub cut shares of Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Merit Medical Systems in a report on Wednesday, February 26th. Wells Fargo & Co upped their price objective on Merit Medical Systems from $26.00 to $33.00 and gave the stock an “underweight” rating in a report on Tuesday, February 25th. Barrington Research lowered Merit Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 25th. Finally, Piper Sandler reissued an “overweight” rating and issued a $50.00 target price (up from $42.00) on shares of Merit Medical Systems in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Merit Medical Systems has an average rating of “Buy” and a consensus price target of $44.50.

The company has a debt-to-equity ratio of 0.53, a current ratio of 2.50 and a quick ratio of 1.26. The firm has a market capitalization of $1.54 billion, a P/E ratio of 366.71, a P/E/G ratio of 1.63 and a beta of 0.85. The stock’s 50 day moving average is $36.35 and its two-hundred day moving average is $31.91.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Monday, February 24th. The medical instruments supplier reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. Merit Medical Systems had a net margin of 0.55% and a return on equity of 8.67%. The firm had revenue of $257.92 million for the quarter, compared to analysts’ expectations of $252.31 million. During the same period last year, the firm earned $0.48 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities research analysts expect that Merit Medical Systems, Inc. will post 1.56 EPS for the current year.

In related news, Director Franklin J. Miller sold 15,000 shares of Merit Medical Systems stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $38.07, for a total transaction of $571,050.00. Following the completion of the sale, the director now directly owns 17,334 shares of the company’s stock, valued at $659,905.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Franklin J. Miller sold 2,331 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $35.25, for a total value of $82,167.75. Following the completion of the sale, the director now owns 4,665 shares of the company’s stock, valued at approximately $164,441.25. The disclosure for this sale can be found here. In the last three months, insiders sold 23,969 shares of company stock worth $900,749. 4.75% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Nuance Investments LLC acquired a new position in Merit Medical Systems during the fourth quarter valued at approximately $65,906,000. ArrowMark Colorado Holdings LLC lifted its holdings in Merit Medical Systems by 29.3% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 5,283,404 shares of the medical instruments supplier’s stock worth $164,948,000 after acquiring an additional 1,197,629 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Merit Medical Systems in the fourth quarter valued at about $26,628,000. Massachusetts Financial Services Co. MA grew its stake in Merit Medical Systems by 117.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,531,025 shares of the medical instruments supplier’s stock valued at $47,799,000 after acquiring an additional 826,911 shares during the period. Finally, Soltis Investment Advisors LLC acquired a new position in Merit Medical Systems in the fourth quarter valued at about $25,228,000. 97.48% of the stock is owned by institutional investors.

About Merit Medical Systems (NASDAQ:MMSI)

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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