Merit Medical Systems, Inc. (NASDAQ:MMSI) COO Ronald Frost sold 5,257 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $61.31, for a total transaction of $322,306.67. Following the transaction, the chief operating officer now directly owns 5,257 shares in the company, valued at $322,306.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Merit Medical Systems stock traded down $2.08 during trading hours on Friday, reaching $59.16. 310,212 shares of the stock were exchanged, compared to its average volume of 493,201. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 46.22, a PEG ratio of 2.82 and a beta of 1.19. The company has a quick ratio of 1.47, a current ratio of 2.77 and a debt-to-equity ratio of 0.20. Merit Medical Systems, Inc. has a twelve month low of $36.21 and a twelve month high of $66.34.
Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Thursday, October 25th. The medical instruments supplier reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The firm had revenue of $221.66 million for the quarter, compared to the consensus estimate of $217.62 million. Merit Medical Systems had a net margin of 4.72% and a return on equity of 10.86%. On average, sell-side analysts expect that Merit Medical Systems, Inc. will post 1.66 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in the business. American International Group Inc. grew its stake in Merit Medical Systems by 10.7% during the third quarter. American International Group Inc. now owns 42,037 shares of the medical instruments supplier’s stock worth $2,583,000 after buying an additional 4,050 shares in the last quarter. BlackRock Inc. grew its stake in Merit Medical Systems by 13.3% during the third quarter. BlackRock Inc. now owns 7,985,361 shares of the medical instruments supplier’s stock worth $490,700,000 after buying an additional 939,589 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Merit Medical Systems by 6.0% during the third quarter. Bank of New York Mellon Corp now owns 826,975 shares of the medical instruments supplier’s stock worth $50,816,000 after buying an additional 47,176 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Merit Medical Systems by 3.5% in the 3rd quarter. Alliancebernstein L.P. now owns 120,114 shares of the medical instruments supplier’s stock valued at $7,381,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in shares of Merit Medical Systems by 1.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 2,045,983 shares of the medical instruments supplier’s stock valued at $125,725,000 after purchasing an additional 19,863 shares in the last quarter. Hedge funds and other institutional investors own 87.09% of the company’s stock.
MMSI has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Merit Medical Systems from a “sell” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Monday, October 29th. Sidoti set a $79.00 price target on shares of Merit Medical Systems and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Canaccord Genuity raised their price target on shares of Merit Medical Systems from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Raymond James raised their price target on shares of Merit Medical Systems from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 24th. Finally, Piper Jaffray Companies raised their price target on shares of Merit Medical Systems from $58.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $68.10.
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Merit Medical Systems Company Profile
Merit Medical Systems, Inc designs, develops, manufactures, and markets various 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 various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.
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