Raymond James & Associates Lowers Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Raymond James & Associates lessened its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 125,301 shares of the medical instruments supplier’s stock after selling 3,723 shares during the quarter. Raymond James & Associates’ holdings in Merit Medical Systems were worth $12,383,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MMSI. William Blair Investment Management LLC lifted its position in Merit Medical Systems by 0.3% during the 2nd quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock worth $262,445,000 after acquiring an additional 10,512 shares during the period. Conestoga Capital Advisors LLC increased its holdings in shares of Merit Medical Systems by 3.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,250,368 shares of the medical instruments supplier’s stock worth $193,419,000 after buying an additional 75,885 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in Merit Medical Systems by 17.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock valued at $66,685,000 after buying an additional 131,977 shares during the period. Price T Rowe Associates Inc. MD raised its position in Merit Medical Systems by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock valued at $63,543,000 after purchasing an additional 22,077 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in shares of Merit Medical Systems by 147.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock valued at $54,545,000 after buying an additional 377,851 shares during the period. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

Shares of MMSI stock opened at $96.00 on Monday. Merit Medical Systems, Inc. has a twelve month low of $63.13 and a twelve month high of $101.60. The firm has a fifty day simple moving average of $96.11 and a 200-day simple moving average of $87.15. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $5.59 billion, a PE ratio of 48.00, a price-to-earnings-growth ratio of 2.41 and a beta of 0.87.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The company had revenue of $338.00 million for the quarter, compared to the consensus estimate of $334.94 million. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. Equities research analysts anticipate that Merit Medical Systems, Inc. will post 3.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

MMSI has been the topic of several analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Barrington Research restated an “outperform” rating and issued a $114.00 price objective on shares of Merit Medical Systems in a research report on Friday, October 18th. StockNews.com raised Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Saturday. Needham & Company LLC reiterated a “buy” rating and set a $105.00 target price on shares of Merit Medical Systems in a report on Monday, September 16th. Finally, Wells Fargo & Company lifted their price objective on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $101.82.

Merit Medical Systems 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.