Merit Medical’s chief legal officer sells $2.49 million in stock

Merit Medical Systems Inc. (NASDAQ:MMSI), a medical device company with a market capitalization of $6.08 billion, recently filed a Form 4 with the Securities and Exchange Commission, revealing significant stock transactions by its Chief Legal Officer and Secretary, Brian G. Lloyd. According to the filing, Lloyd sold 25,000 shares of Merit Medical (TASE:BLWV) stock on February 28, 2025, at a weighted average price of approximately $99.5 per share, amounting to a total of $2.49 million. InvestingPro analysis indicates the stock is trading at a relatively high P/E ratio of 50.2, suggesting premium valuations.

In addition to the sale, Lloyd executed several other transactions. On February 27, 2025, he acquired 11,533 shares of Merit Medical stock at no cost, following a determination by the company’s Compensation and Talent Development Committee that certain performance conditions had been met. The same day, he surrendered 4,198 shares to cover payroll taxes, with these shares valued at $98.5 each, totaling $413,503.

Furthermore, on February 28, 2025, Lloyd exercised stock options to acquire 25,000 shares at a price of $44.8 per share, bringing the total value of this transaction to $1.12 million. These transactions adjusted Lloyd’s direct ownership to 38,993 shares following the sale.

These filings provide transparency into the stock activities of Merit Medical’s key executives, offering investors insight into the company’s internal transactions.

In other recent news, Merit Medical Systems , Inc. reported robust fourth-quarter earnings for 2024, with earnings per share (EPS) of $0.93, surpassing the expected $0.82. The company’s revenue reached $355.2 million, exceeding forecasts and reflecting a 9% year-over-year increase. Merit Medical’s acquisitions, including Cook Medical and EndoGastric Solutions, have been performing well, contributing to its strong financial results. The company provided guidance for 2025, anticipating revenue growth of 8-10% and EPS between $3.58 and $3.70, despite a slightly lower EPS forecast due to changes in accounting treatment.

Analyst firms have reacted to these developments with mixed adjustments. Oppenheimer reduced the price target for Merit Medical to $116 from $120 while maintaining an Outperform rating, citing strong sales and EPS performance. Needham also lowered its price target to $116 from $122, retaining a Buy rating, and noted that the company’s sales and EPS guidance were slightly below consensus. Meanwhile, Raymond (NSE:RYMD) James raised its price target to $116 from $110, maintaining an Outperform rating, and expressed confidence in the company’s ability to exceed its financial objectives.

Merit Medical’s free cash flow for 2024 was noteworthy, increasing by 67% to $185 million. The company is closely monitoring the initial launch of its WRAPSODY product, with expectations for increasing contributions throughout the year. The firm’s strategic initiatives and product innovations appear to support continued growth and profitability, as highlighted by the analysts’ outlooks.

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