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SOUTH JORDAN, Utah—Voigt Michel James, the Chief Human Resources Officer at Merit Medical Systems Inc. (NASDAQ:MMSI), a $6.08 billion medical device company whose stock has gained nearly 35% over the past year, recently sold a significant portion of the company’s common stock. According to InvestingPro data, the company maintains strong financial health with a "GREAT" overall rating. According to a Form 4 filing with the Securities and Exchange Commission, James sold 13,809 shares at an average price of $99.68 per share, amounting to a total of $1.38 million.
In addition to the stock sale, James engaged in other transactions that affected his holdings. On February 27, he acquired 11,533 shares of common stock through performance stock units, which were issued after meeting certain conditions set by the company’s Compensation and Talent Development Committee. These shares were acquired at no cost.
Further transactions on February 28 included the acquisition of restricted stock units and the exercise of stock options. James acquired 5,488 restricted stock units, which vest in three annual installments, and exercised options to acquire 13,809 shares at prices ranging from $56.25 to $70.58 per share. These transactions resulted in a total acquisition value of $848,122.
Additionally, James surrendered 4,530 shares to the company to cover payroll taxes, a transaction valued at $446,205 based on a price of $98.50 per share.
Following these transactions, James holds 22,399 shares of Merit Medical Systems common stock. The stock, which currently trades at $103.03, appears overvalued according to InvestingPro analysis, despite the company’s solid fundamentals including a healthy current ratio of 4.27 and moderate debt levels. Investors seeking deeper insights can access comprehensive analysis and 12 additional ProTips through InvestingPro’s detailed research reports, available for over 1,400 US stocks including MMSI.
In other recent news, Merit Medical Systems, Inc. reported its fourth-quarter 2024 earnings, showcasing strong financial performance. The company reported earnings per share (EPS) of $0.93, surpassing the forecast of $0.82, and revenue of $355.2 million, exceeding expectations of $346.76 million. This performance reflects a 9% year-over-year increase in total revenue and a significant 30% growth in non-GAAP operating profit. Merit Medical (TASE:BLWV)’s gross margin improved by approximately 300 basis points year-over-year, marking a record for the company.
The company also highlighted a 67% increase in free cash flow, totaling $185 million for 2024. Looking forward, Merit Medical provided guidance for 2025, projecting revenue growth of 8-10% and non-GAAP EPS in the range of $3.58 to $3.70. Recent acquisitions, including Cook Medical and EndoGastric Solutions, are performing beyond expectations, contributing to the company’s robust performance.
Analyst firms have adjusted their price targets for Merit Medical, with Oppenheimer and Needham both lowering their targets to $116, while Raymond (NSE:RYMD) James raised its target to the same figure, maintaining an Outperform rating. These adjustments come despite Merit Medical’s optimistic guidance and strong historical growth, with analysts generally expressing confidence in the company’s ability to sustain its growth trajectory.
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