Merit Medical Systems (MMSI) Rating Lowered to Sell at BidaskClub

Merit Medical Systems (NASDAQ:MMSI) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, January 26th.

MMSI has been the subject of a number of other reports. Zacks Investment Research raised Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Saturday, October 28th. Canaccord Genuity upped their target price on Merit Medical Systems from $45.00 to $47.50 and gave the company a “buy” rating in a report on Thursday, October 26th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $51.00 target price (up from $46.00) on shares of Merit Medical Systems in a report on Thursday, November 30th. ValuEngine raised Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Tuesday, November 21st. Finally, SunTrust Banks set a $47.00 price objective on Merit Medical Systems and gave the company a “buy” rating in a report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $43.77.

Merit Medical Systems (MMSI) opened at $43.25 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.78. The firm has a market capitalization of $2,140.98, a P/E ratio of 70.90, a P/E/G ratio of 2.53 and a beta of 1.29. Merit Medical Systems has a 52 week low of $27.25 and a 52 week high of $48.10.

In other Merit Medical Systems news, Director Kent W. Stanger sold 9,082 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $44.90, for a total value of $407,781.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Franklin J. Miller sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $43.93, for a total transaction of $439,300.00. Following the completion of the sale, the director now owns 21,244 shares of the company’s stock, valued at $933,248.92. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock worth $1,416,379 over the last three months. 5.00% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Suntrust Banks Inc. lifted its holdings in shares of Merit Medical Systems by 5.6% during the second quarter. Suntrust Banks Inc. now owns 7,847 shares of the medical instruments supplier’s stock valued at $299,000 after purchasing an additional 414 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its holdings in Merit Medical Systems by 7.2% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 7,400 shares of the medical instruments supplier’s stock worth $282,000 after acquiring an additional 500 shares during the last quarter. Ameritas Investment Partners Inc. raised 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 worth $163,000 after acquiring an additional 738 shares during the last quarter. Pinebridge Investments L.P. raised its holdings in Merit Medical Systems by 12.9% in the 2nd quarter. Pinebridge Investments L.P. now owns 6,577 shares of the medical instruments supplier’s stock worth $251,000 after acquiring an additional 752 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in Merit Medical Systems by 6.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 21,600 shares of the medical instruments supplier’s stock worth $933,000 after acquiring an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

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About Merit Medical Systems

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.

Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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