Merit Medical Systems (NASDAQ:MMSI) PT Raised to $51.00 at Raymond James

Merit Medical Systems (NASDAQ:MMSI) had its price objective increased by equities researchers at Raymond James from $49.00 to $51.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The brokerage presently has an “outperform” rating on the medical instruments supplier’s stock. Raymond James’ price objective points to a potential upside of 14.04% from the stock’s previous close.

MMSI has been the topic of a number of other reports. BidaskClub raised Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Thursday. ValuEngine downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Sidoti increased their price target on Merit Medical Systems from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Piper Sandler raised their price objective on Merit Medical Systems from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Barrington Research raised their price objective on Merit Medical Systems from $49.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.00.

NASDAQ:MMSI traded down $1.82 during trading hours on Thursday, hitting $44.72. The company had a trading volume of 465,374 shares, compared to its average volume of 363,916. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.56 and a quick ratio of 1.42. The company has a market capitalization of $2.48 billion, a PE ratio of -82.81, a price-to-earnings-growth ratio of 3.77 and a beta of 1.13. The stock has a 50-day moving average price of $43.70 and a 200 day moving average price of $39.22. Merit Medical Systems has a 52 week low of $19.50 and a 52 week high of $47.99.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Wednesday, July 29th. The medical instruments supplier reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.24. Merit Medical Systems had a positive return on equity of 8.10% and a negative net margin of 3.10%. The firm had revenue of $218.37 million during the quarter, compared to analyst estimates of $192.67 million. During the same quarter in the previous year, the firm earned $0.42 EPS. Merit Medical Systems’s quarterly revenue was down 14.5% compared to the same quarter last year. Analysts anticipate that Merit Medical Systems will post 1.04 EPS for the current fiscal year.

In other Merit Medical Systems news, Director David Ming-Teh Liu sold 13,800 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $45.00, for a total transaction of $621,000.00. Following the completion of the sale, the director now directly owns 6,300 shares of the company’s stock, valued at approximately $283,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nolan E. Karras sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $44.12, for a total value of $220,600.00. Following the sale, the director now directly owns 15,500 shares of the company’s stock, valued at $683,860. The disclosure for this sale can be found here. Insiders sold a total of 23,800 shares of company stock valued at $1,061,600 over the last three months. Company insiders own 4.70% of the company’s stock.

Several hedge funds have recently modified their holdings of MMSI. First Trust Advisors LP boosted its holdings in Merit Medical Systems by 13.9% during the first quarter. First Trust Advisors LP now owns 83,324 shares of the medical instruments supplier’s stock worth $5,152,000 after purchasing an additional 10,140 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Merit Medical Systems by 5.7% during the 4th quarter. Bank of New York Mellon Corp now owns 669,057 shares of the medical instruments supplier’s stock valued at $20,889,000 after purchasing an additional 36,322 shares in the last quarter. Captrust Financial Advisors bought a new stake in Merit Medical Systems during the 4th quarter valued at about $217,000. Mason Street Advisors LLC raised its position in shares of Merit Medical Systems by 2.6% during the fourth quarter. Mason Street Advisors LLC now owns 19,230 shares of the medical instruments supplier’s stock valued at $600,000 after buying an additional 495 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Merit Medical Systems by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 743,120 shares of the medical instruments supplier’s stock valued at $23,200,000 after buying an additional 22,381 shares during the last quarter. 97.49% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.

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Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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