Lazard Asset Management LLC Increases Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Lazard Asset Management LLC boosted its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 332.7% in the 4th quarter, Holdings Channel reports. The fund owned 4,682 shares of the medical instruments supplier’s stock after purchasing an additional 3,600 shares during the period. Lazard Asset Management LLC’s holdings in Merit Medical Systems were worth $452,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of Merit Medical Systems by 305.4% during the third quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier’s stock worth $11,142,000 after purchasing an additional 84,923 shares during the last quarter. Park Avenue Securities LLC lifted its position in Merit Medical Systems by 20.6% during the fourth quarter. Park Avenue Securities LLC now owns 4,812 shares of the medical instruments supplier’s stock worth $465,000 after buying an additional 821 shares during the period. Ballentine Partners LLC acquired a new stake in Merit Medical Systems in the 4th quarter worth about $200,000. Fort Washington Investment Advisors Inc. OH boosted its stake in Merit Medical Systems by 8.3% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 195,140 shares of the medical instruments supplier’s stock worth $18,874,000 after buying an additional 14,990 shares during the last quarter. Finally, Whalen Wealth Management Inc. purchased a new stake in Merit Medical Systems in the 4th quarter valued at about $247,000. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Merit Medical Systems Stock Down 2.3%

Shares of Merit Medical Systems stock opened at $96.49 on Thursday. Merit Medical Systems, Inc. has a twelve month low of $80.02 and a twelve month high of $111.45. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 47.30, a price-to-earnings-growth ratio of 2.34 and a beta of 0.70. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average price of $96.72 and a 200 day moving average price of $100.56.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.11. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company had revenue of $355.35 million for the quarter, compared to analysts’ expectations of $352.57 million. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MMSI has been the topic of several recent analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Merit Medical Systems in a report on Friday, March 28th. They set an “overweight” rating and a $120.00 price objective on the stock. Canaccord Genuity Group upped their price target on shares of Merit Medical Systems from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird decreased their price target on shares of Merit Medical Systems from $111.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Wells Fargo & Company boosted their price objective on shares of Merit Medical Systems from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Barrington Research cut their target price on Merit Medical Systems from $111.00 to $103.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Merit Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.33.

Insider Buying and Selling

In related news, CFO Raul Jr. Parra sold 12,451 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the completion of the sale, the chief financial officer now directly owns 24,201 shares of the company’s stock, valued at approximately $2,391,300.81. This trade represents a 33.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director F. Ann Millner sold 21,250 shares of Merit Medical Systems stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $96.47, for a total transaction of $2,049,987.50. Following the sale, the director now directly owns 34,543 shares in the company, valued at $3,332,363.21. This trade represents a 38.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,382 shares of company stock valued at $13,189,508. Corporate insiders own 3.20% of the company’s stock.

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.