ValuEngine cut shares of Merit Medical Systems (NASDAQ:MMSI) from a buy rating to a hold rating in a report released on Friday morning.
A number of other research analysts also recently commented on the stock. Wells Fargo & Company reissued an outperform rating and issued a $51.00 price objective (up previously from $46.00) on shares of Merit Medical Systems in a research report on Thursday, November 30th. SunTrust Banks set a $47.00 target price on shares of Merit Medical Systems and gave the stock a buy rating in a report on Thursday, November 16th. Zacks Investment Research raised shares of Merit Medical Systems from a hold rating to a buy rating and set a $43.00 target price for the company in a report on Saturday, October 28th. Canaccord Genuity lifted their target price on shares of Merit Medical Systems from $45.00 to $47.50 and gave the stock a buy rating in a report on Thursday, October 26th. Finally, Raymond James Financial reaffirmed an outperform rating and set a $44.00 target price on shares of Merit Medical Systems in a report on Monday, August 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Merit Medical Systems has an average rating of Buy and a consensus price target of $43.77.
Merit Medical Systems (NASDAQ:MMSI) opened at $43.70 on Friday. Merit Medical Systems has a 12-month low of $24.23 and a 12-month high of $45.50. The company has a market cap of $2,168.59, a PE ratio of 34.02, a PEG ratio of 2.93 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.78 and a quick ratio of 1.43.
Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. Merit Medical Systems had a net margin of 4.06% and a return on equity of 9.86%. The company had revenue of $179.30 million during the quarter, compared to the consensus estimate of $181.28 million. During the same quarter last year, the firm posted $0.26 EPS. The company’s quarterly revenue was up 14.2% on a year-over-year basis. sell-side analysts expect that Merit Medical Systems will post 1.27 earnings per share for the current year.
In related news, Director Kent W. Stanger sold 1,930 shares of Merit Medical Systems stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $42.02, for a total transaction of $81,098.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 5,518 shares of company stock valued at $239,276 in the last ninety days. 5.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of MMSI. LS Investment Advisors LLC boosted its holdings in Merit Medical Systems by 8.1% in the 2nd quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock valued at $141,000 after purchasing an additional 277 shares during the period. Advisors Asset Management Inc. boosted its holdings in Merit Medical Systems by 28.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock valued at $142,000 after purchasing an additional 820 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Merit Medical Systems by 20.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,272 shares of the medical instruments supplier’s stock valued at $163,000 after purchasing an additional 738 shares during the period. SG Americas Securities LLC bought a new stake in Merit Medical Systems in the 3rd quarter valued at about $189,000. Finally, Riverhead Capital Management LLC boosted its holdings in Merit Medical Systems by 67.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,198 shares of the medical instruments supplier’s stock valued at $198,000 after purchasing an additional 2,098 shares during the period. 90.89% of the stock is owned by hedge funds and other institutional investors.
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Merit Medical Systems Company Profile
Merit Medical Systems, Inc is a manufacturer and marketer of disposable medical devices used in a range of interventional, diagnostic and therapeutic medical procedures. The Company operates in two segments: cardiovascular and endoscopy. The cardiovascular segment consists of cardiology and radiology devices, which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases, and includes embolotherapeutic, cardiac rhythm management (CRM), electrophysiology (EP), and interventional oncology and spine devices.
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