Merit Medical Systems (NASDAQ:MMSI) Price Target Raised to $110.00 at Raymond James

Merit Medical Systems (NASDAQ:MMSI) had its target price hoisted by investment analysts at Raymond James from $105.00 to $110.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical instruments supplier’s stock. Raymond James’ target price would indicate a potential upside of 13.68% from the company’s current price.

MMSI has been the topic of several other research reports. Wells Fargo & Company raised Merit Medical Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $103.00 to $120.00 in a research report on Wednesday, December 11th. StockNews.com cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $109.00 target price on shares of Merit Medical Systems in a research report on Thursday, October 31st. Robert W. Baird lifted their price target on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Bank of America upped their price objective on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $107.70.

Merit Medical Systems Stock Up 0.3 %

Shares of Merit Medical Systems stock traded up $0.26 on Tuesday, reaching $96.76. 219,858 shares of the company were exchanged, compared to its average volume of 435,989. The stock’s 50 day moving average price is $101.00 and its 200-day moving average price is $94.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. Merit Medical Systems has a 1-year low of $70.70 and a 1-year high of $108.07. The company has a market cap of $5.64 billion, a P/E ratio of 47.43, a price-to-earnings-growth ratio of 2.55 and a beta of 0.84.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The company had revenue of $339.85 million during the quarter, compared to analysts’ expectations of $334.60 million. During the same quarter in the previous year, the business posted $0.75 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that Merit Medical Systems will post 3.36 EPS for the current year.

Insider Buying and Selling at Merit Medical Systems

In other news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $101.55, for a total transaction of $1,269,375.00. Following the completion of the sale, the director now directly owns 32,391 shares in the company, valued at approximately $3,289,306.05. This trade represents a 27.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Raul Jr. Parra sold 29,646 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total value of $2,905,900.92. Following the sale, the chief financial officer now owns 16,361 shares in the company, valued at approximately $1,603,705.22. The trade was a 64.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Merit Medical Systems

Several institutional investors and hedge funds have recently made changes to their positions in MMSI. USA Financial Formulas purchased a new stake in Merit Medical Systems during the 3rd quarter worth about $59,000. National Bank of Canada FI acquired a new stake in shares of Merit Medical Systems during the 2nd quarter worth about $77,000. Farther Finance Advisors LLC grew its holdings in shares of Merit Medical Systems by 32.7% during the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after buying an additional 260 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Merit Medical Systems in the third quarter valued at approximately $120,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Merit Medical Systems during the second quarter worth approximately $112,000. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

About Merit Medical Systems

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.