BidaskClub upgraded shares of Merit Medical Systems (NASDAQ:MMSI) from a sell rating to a hold rating in a research note published on Thursday.
MMSI has been the topic of several other research reports. ValuEngine lowered Merit Medical Systems from a buy rating to a hold rating in a report on Friday, December 1st. Wells Fargo & Co reiterated an outperform rating and set a $51.00 target price (up previously from $46.00) on shares of Merit Medical Systems in a report on Thursday, November 30th. Zacks Investment Research upgraded Merit Medical Systems from a hold rating to a buy rating and set a $43.00 target price on the stock in a report on Saturday, October 28th. SunTrust Banks set a $47.00 target price on Merit Medical Systems and gave the stock a buy rating in a report on Thursday, November 16th. Finally, Canaccord Genuity reiterated a buy rating and set a $45.00 target price on shares of Merit Medical Systems in a report on Sunday, October 8th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $43.77.
Merit Medical Systems (MMSI) traded up $1.60 during mid-day trading on Thursday, hitting $48.00. The stock had a trading volume of 560,087 shares, compared to its average volume of 229,377. The company has a quick ratio of 1.43, a current ratio of 2.78 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $2,409.55, a PE ratio of 37.80, a P/E/G ratio of 2.85 and a beta of 1.23. Merit Medical Systems has a 52 week low of $24.23 and a 52 week high of $48.10.
Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. The company had revenue of $179.30 million during the quarter, compared to analysts’ expectations of $181.28 million. Merit Medical Systems had a return on equity of 9.86% and a net margin of 4.06%. Merit Medical Systems’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. sell-side analysts anticipate that Merit Medical Systems will post 1.27 earnings per share for the current fiscal year.
In other Merit Medical Systems news, Director Franklin J. Miller sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $43.93, for a total value of $439,300.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kent W. Stanger sold 2,918 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $44.55, for a total value of $129,996.90. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock worth $1,416,379 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Merit Medical Systems by 4.5% in the second quarter. Vanguard Group Inc. now owns 4,374,628 shares of the medical instruments supplier’s stock valued at $166,893,000 after buying an additional 187,745 shares during the period. Dimensional Fund Advisors LP raised its stake in Merit Medical Systems by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,694,722 shares of the medical instruments supplier’s stock valued at $102,803,000 after buying an additional 19,257 shares during the period. Janus Henderson Group PLC raised its stake in Merit Medical Systems by 922.3% in the second quarter. Janus Henderson Group PLC now owns 1,533,513 shares of the medical instruments supplier’s stock valued at $58,504,000 after buying an additional 1,383,513 shares during the period. State Street Corp raised its stake in Merit Medical Systems by 9.9% in the second quarter. State Street Corp now owns 1,339,547 shares of the medical instruments supplier’s stock valued at $51,105,000 after buying an additional 120,759 shares during the period. Finally, Macquarie Group Ltd. raised its stake in Merit Medical Systems by 12.2% in the second quarter. Macquarie Group Ltd. now owns 1,122,457 shares of the medical instruments supplier’s stock valued at $42,822,000 after buying an additional 122,138 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.
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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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