Merit Medical Systems (NASDAQ:MMSI) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
Several other equities research analysts also recently weighed in on the stock. Citigroup downgraded shares of Merit Medical Systems from a “strong-buy” rating to an “outperform” rating and set a $44.00 target price on the stock. in a research note on Monday, August 28th. They noted that the move was a valuation call. Raymond James Financial reissued an “outperform” rating and issued a $44.00 target price on shares of Merit Medical Systems in a research note on Monday, August 28th. UBS downgraded shares of Merit Medical Systems from a “strong-buy” rating to an “outperform” rating in a research note on Monday, August 28th. Zacks Investment Research raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Saturday, October 28th. Finally, Canaccord Genuity raised their price target on shares of Merit Medical Systems from $45.00 to $47.50 and gave the stock a “buy” rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $43.77.
Shares of Merit Medical Systems (NASDAQ:MMSI) opened at $43.25 on Tuesday. Merit Medical Systems has a 12 month low of $24.23 and a 12 month high of $45.50. The firm has a market cap of $2,188.67, a price-to-earnings ratio of 34.33, a PEG ratio of 2.95 and a beta of 1.23. The company has a quick ratio of 1.43, a current ratio of 2.78 and a debt-to-equity ratio of 0.39.
Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $179.30 million for the quarter, compared to the consensus estimate of $181.28 million. During the same quarter in the prior year, the firm posted $0.26 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. sell-side analysts expect that Merit Medical Systems will post 1.27 EPS for the current year.
In related news, Director Kent W. Stanger sold 2,918 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $44.55, for a total value of $129,996.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 5,518 shares of company stock worth $239,276 in the last ninety days. 5.00% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. LS Investment Advisors LLC grew its holdings in Merit Medical Systems by 8.1% during the 2nd quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock worth $141,000 after acquiring an additional 277 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Merit Medical Systems by 28.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock worth $142,000 after acquiring an additional 820 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in Merit Medical Systems by 20.9% during 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 in the last quarter. SG Americas Securities LLC bought a new position in Merit Medical Systems during the 3rd quarter worth about $189,000. Finally, Riverhead Capital Management LLC grew its holdings in Merit Medical Systems by 67.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,198 shares of the medical instruments supplier’s stock worth $198,000 after acquiring an additional 2,098 shares in the last quarter. Institutional investors own 90.89% 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.
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