Merit Medical Systems, Inc. (MMSI) Insider Sells $1,194,510.00 in Stock
Merit Medical Systems, Inc. (NASDAQ:MMSI) insider Richard W. Edelman sold 29,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $41.19, for a total transaction of $1,194,510.00. Following the completion of the transaction, the insider now owns 35,000 shares of the company’s stock, valued at approximately $1,441,650. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Merit Medical Systems, Inc. (MMSI) traded down 0.24% during mid-day trading on Friday, hitting $40.75. 169,830 shares of the stock traded hands. The firm’s 50-day moving average is $39.50 and its 200-day moving average is $33.55. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 58.05 and a beta of 1.26. Merit Medical Systems, Inc. has a 52 week low of $20.70 and a 52 week high of $42.60.
Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $186.50 million during the quarter, compared to the consensus estimate of $181.46 million. Merit Medical Systems had a return on equity of 9.78% and a net margin of 4.87%. The firm’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 earnings per share. On average, analysts forecast that Merit Medical Systems, Inc. will post $1.26 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: “Merit Medical Systems, Inc. (MMSI) Insider Sells $1,194,510.00 in Stock” was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another site, it was copied illegally and reposted in violation of international copyright and trademark laws. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/08/19/insider-selling-merit-medical-systems-inc-mmsi-insider-sells-29000-shares-of-stock-updated-updated.html.
MMSI has been the subject of a number of research reports. Sidoti reiterated a “buy” rating and issued a $41.00 price objective (up previously from $35.00) on shares of Merit Medical Systems in a report on Saturday, April 29th. BidaskClub raised shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Piper Jaffray Companies reissued an “overweight” rating and set a $39.00 target price on shares of Merit Medical Systems in a research report on Monday, June 26th. SunTrust Banks, Inc. began coverage on shares of Merit Medical Systems in a research report on Tuesday, June 20th. They set a “buy” rating and a $43.00 target price for the company. Finally, Zacks Investment Research raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Thursday, June 22nd. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Merit Medical Systems currently has an average rating of “Buy” and an average price target of $39.74.
Institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new position in shares of Merit Medical Systems during the second quarter worth approximately $300,000. Koch Industries Inc. purchased a new stake in shares of Merit Medical Systems during the second quarter valued at $286,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Merit Medical Systems during the second quarter valued at $412,000. Westwood Holdings Group Inc. boosted its stake in shares of Merit Medical Systems by 8.9% in the second quarter. Westwood Holdings Group Inc. now owns 266,699 shares of the medical instruments supplier’s stock valued at $10,174,000 after buying an additional 21,786 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in shares of Merit Medical Systems by 20.9% in the second quarter. Ameritas Investment Partners Inc. now owns 4,272 shares of the medical instruments supplier’s stock valued at $163,000 after buying an additional 738 shares during the last quarter. Institutional investors own 91.64% 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.
Receive News & Stock Ratings for Merit Medical Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merit Medical Systems Inc. and related stocks with our FREE daily email newsletter.