Stock traders buy large volume of call options from Merit Medical Systems (NASDAQ: MMSI)
Merit Medical Systems, Inc. (NASDAQ: MMSI) saw unusually large options trading on Friday. Investors bought 2,995 call options on the company. This is an increase of 1,405% over the average daily volume of 199 call options.
In other news from Merit Medical Systems, principal Lynne Ward sold 9,470 shares of the company in a transaction dated Wednesday, September 15. The shares were sold for an average price of $ 71.83, for a total value of $ 680,230.10. As a result of the transaction, the director now directly owns 21,969 shares of the company, valued at $ 1,578,033.27. The transaction was disclosed in a document filed with the SEC, which is available through this link. Additionally, insider Brian G. Lloyd sold 15,546 shares of the company in a trade that took place on Wednesday, September 15. The shares were sold at an average price of $ 71.88, for a total trade of $ 1,117,446.48. Disclosure of this sale can be found here. Insiders have sold a total of 25,866 shares of the company valued at $ 1,858,571 in the past ninety days. 3.70% of the shares are held by insiders of the company.
Several institutional investors have recently changed their positions in MMSI. Federated Hermes Inc. purchased a new position in shares of Merit Medical Systems in the first quarter valued at approximately $ 1,134,000. Ergoteles LLC purchased a new equity stake in Merit Medical Systems during the second quarter for a value of $ 1,485,000. Redwood Investment Management LLC increased its stake in Merit Medical Systems by 17.4% during the first quarter. Redwood Investment Management LLC now owns 25,271 shares of the medical device supplier valued at $ 1,513,000 after acquiring an additional 3,751 shares during the period. Eaton Vance Management acquired a new position in Merit Medical Systems during the first quarter valued at approximately $ 35,000. Finally, Creative Planning acquired a new position in Merit Medical Systems in the second quarter for a value of $ 209,000. 94.47% of the shares are currently held by institutional investors.
Actions of MMSI stock traded up $ 0.72 during trading hours on Friday, reaching $ 72.52. 252,543 shares of the company were traded, against an average volume of 259,468. The company has a leverage ratio of 0.29, a quick ratio of 1.21 and a current ratio of 2.14. Merit Medical Systems has a one year minimum of $ 41.56 and a one year maximum of $ 73.85. The company’s 50-day simple moving average is $ 69.56 and its two-hundred-day simple moving average is $ 64.21. The stock has a market cap of $ 4.08 billion, a price / earnings ratio of 143.60, a P / E / G ratio of 2.47 and a beta of 1.25.
Merit Medical Systems (NASDAQ: MMSI) last released its quarterly earnings data on Thursday, July 29. The medical device supplier reported earnings per share (EPS) of $ 0.62 for the quarter, beating the consensus estimate of $ 0.44 by $ 0.18. Merit Medical Systems had a net margin of 2.74% and a return on equity of 12.42%. The company posted revenue of $ 280.33 million in the quarter, compared to $ 251.40 million according to analysts’ estimates. As a group, analysts expect Merit Medical Systems to post EPS of 2.14 for the current fiscal year.
Several analysts have recently weighed on the title. Piper Sandler raised her price target for Merit Medical Systems shares from $ 73.00 to $ 79.00 and rated the company “overweight” in a research note on Friday, July 30. Raymond James increased his price target on Merit Medical Systems from $ 69.00 to $ 73.00 and gave the company an “outperformance” rating in a research note on Friday, July 30. Needham & Company LLC raised its price target on Merit Medical Systems from $ 73.00 to $ 83.00 and assigned the company a “buy” rating in a report released on Friday, July 30. Barrington Research assumed coverage of Merit Medical Systems in a report released Thursday. They issued a “buy” note and a price target of $ 79.00 for the company. Finally, Wells Fargo & Company raised its price target on Merit Medical Systems from $ 65.00 to $ 68.00 and gave the company an “equal weight” rating in a research report released on Friday, July 30. Two analysts rated the stock with a conservation rating and seven issued a buy rating for the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $ 71.56.
Merit Medical Systems Company Profile
Merit Medical Systems, Inc. is engaged in the manufacture and marketing of proprietary disposable medical devices. He operates through the cardiovascular and endoscopy segments. The Cardiovascular segment includes the Peripheral Intervention, Cardiac Intervention, Interventional and Spine Oncology, and Cardiovascular and Critical Care product groups.
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