Merit Medical Systems (NASDAQ:MMSI) Price Target Lowered to $102.00 at Raymond James Financial

Key Points

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Merit Medical Systems (NASDAQ:MMSI - Free Report) had its target price trimmed by Raymond James Financial from $108.00 to $102.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the medical instruments supplier's stock.

Other analysts have also recently issued reports about the company. Robert W. Baird lowered their price target on Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Needham & Company LLC reaffirmed a "buy" rating and set a $108.00 price target on shares of Merit Medical Systems in a report on Friday, July 18th. Barrington Research reaffirmed an "outperform" rating and set a $103.00 price target on shares of Merit Medical Systems in a report on Thursday. Canaccord Genuity Group set a $112.00 price target on Merit Medical Systems and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Merit Medical Systems in a report on Wednesday, July 16th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.00.

Merit Medical Systems Stock Performance

Merit Medical Systems stock traded down $0.08 during trading hours on Thursday, hitting $84.78. The stock had a trading volume of 699,324 shares, compared to its average volume of 806,765. The company has a 50-day moving average of $91.39 and a two-hundred day moving average of $97.18. The company has a quick ratio of 3.26, a current ratio of 4.09 and a debt-to-equity ratio of 0.49. The company has a market cap of $5.01 billion, a PE ratio of 43.04, a price-to-earnings-growth ratio of 2.24 and a beta of 0.66. Merit Medical Systems has a fifty-two week low of $81.04 and a fifty-two week high of $111.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.16. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%. The firm had revenue of $382.46 million for the quarter, compared to analysts' expectations of $372.47 million. During the same period in the prior year, the business posted $0.92 earnings per share. The business's revenue was up 13.2% compared to the same quarter last year. On average, equities research analysts anticipate that Merit Medical Systems will post 3.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Merit Medical Systems news, CEO Fred P. Lampropoulos sold 20,000 shares of Merit Medical Systems stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $96.54, for a total transaction of $1,930,800.00. Following the transaction, the chief executive officer directly owned 1,066,028 shares in the company, valued at approximately $102,914,343.12. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director F. Ann Millner sold 21,250 shares of Merit Medical Systems stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $96.47, for a total value of $2,049,987.50. Following the transaction, the director owned 34,543 shares in the company, valued at approximately $3,332,363.21. This represents a 38.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,596 shares of company stock worth $8,171,433 over the last three months. Insiders own 3.20% of the company's stock.

Institutional Trading of Merit Medical Systems

A number of institutional investors have recently modified their holdings of MMSI. American Century Companies Inc. lifted its holdings in shares of Merit Medical Systems by 40.2% in the fourth quarter. American Century Companies Inc. now owns 23,658 shares of the medical instruments supplier's stock valued at $2,288,000 after purchasing an additional 6,789 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Merit Medical Systems by 23.9% in the fourth quarter. LPL Financial LLC now owns 54,592 shares of the medical instruments supplier's stock valued at $5,555,000 after purchasing an additional 10,526 shares in the last quarter. Norges Bank bought a new stake in shares of Merit Medical Systems in the fourth quarter valued at about $66,638,000. Pictet Asset Management Holding SA lifted its holdings in shares of Merit Medical Systems by 13.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,675 shares of the medical instruments supplier's stock valued at $839,000 after purchasing an additional 1,049 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Merit Medical Systems in the fourth quarter valued at about $484,000. 99.66% of the stock is currently owned by institutional investors.

Merit Medical Systems Company Profile

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.