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Merit Medical Systems, Inc. (NASDAQ:MMSI) Sees Significant Growth in Short Interest

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Merit Medical Systems, Inc. (NASDAQ:MMSI – Get Rating) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 1,070,000 shares, an increase of 12.5% from the August 15th total of 950,700 shares. Based on an average daily trading volume, of 342,000 shares, the short-interest ratio is presently 3.1 days. Currently, 1.9% of the company's stock are short sold.

Merit Medical Systems Stock Down 2.3 %

Shares of MMSI opened at $57.97 on Monday. The company has a market capitalization of $3.29 billion, a P/E ratio of 56.83, a PEG ratio of 2.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.52 and a quick ratio of 1.33. Merit Medical Systems has a one year low of $50.46 and a one year high of $73.81. The business's 50 day simple moving average is $58.32 and its 200-day simple moving average is $60.19.

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Merit Medical Systems (NASDAQ:MMSI – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The medical instruments supplier reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.15. Merit Medical Systems had a net margin of 5.24% and a return on equity of 13.74%. The firm had revenue of $294.98 million during the quarter, compared to analysts' expectations of $280.55 million. During the same quarter in the previous year, the company posted $0.62 EPS. Merit Medical Systems's revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Merit Medical Systems will post 2.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group lifted their target price on Merit Medical Systems from $67.00 to $69.00 in a research report on Friday, September 2nd. StockNews.com raised Merit Medical Systems from a "buy" rating to a "strong-buy" rating in a research report on Monday, September 12th. Piper Sandler decreased their target price on Merit Medical Systems from $75.00 to $70.00 in a research report on Friday, July 1st. Finally, Canaccord Genuity Group lifted their target price on Merit Medical Systems from $67.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, September 2nd. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Merit Medical Systems has an average rating of "Buy" and a consensus price target of $72.14.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 2,343 shares of the firm's stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $62.73, for a total transaction of $146,976.39. Following the transaction, the chief financial officer now directly owns 6,688 shares in the company, valued at $419,538.24. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Raul Jr. Parra sold 2,343 shares of Merit Medical Systems stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $62.73, for a total value of $146,976.39. Following the transaction, the chief financial officer now directly owns 6,688 shares in the company, valued at $419,538.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ronald Frost sold 20,000 shares of Merit Medical Systems stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $62.10, for a total value of $1,242,000.00. Following the completion of the transaction, the chief operating officer now owns 15,144 shares in the company, valued at $940,442.40. The disclosure for this sale can be found here. Insiders have sold a total of 26,436 shares of company stock worth $1,627,142 over the last three months. Corporate insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MMSI. BlackRock Inc. raised its position in shares of Merit Medical Systems by 0.8% during the 1st quarter. BlackRock Inc. now owns 8,398,265 shares of the medical instruments supplier's stock valued at $558,652,000 after acquiring an additional 63,749 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Merit Medical Systems by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 5,801,870 shares of the medical instruments supplier's stock valued at $385,940,000 after acquiring an additional 64,089 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in shares of Merit Medical Systems by 1.0% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,535,932 shares of the medical instruments supplier's stock valued at $168,690,000 after acquiring an additional 25,145 shares during the last quarter. State Street Corp raised its position in shares of Merit Medical Systems by 2.2% during the 2nd quarter. State Street Corp now owns 1,925,198 shares of the medical instruments supplier's stock valued at $104,480,000 after acquiring an additional 42,046 shares during the last quarter. Finally, Macquarie Group Ltd. increased its position in shares of Merit Medical Systems by 4.4% in the 2nd quarter. Macquarie Group Ltd. now owns 1,394,833 shares of the medical instruments supplier's stock valued at $75,698,000 after buying an additional 58,692 shares in the last quarter. Institutional investors own 94.52% of the company's stock.

Merit Medical Systems Company Profile

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Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. The company operates in two segments, Cardiovascular and Endoscopy.

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