BidaskClub downgraded shares of Merit Medical Systems (NASDAQ:MMSI) from a hold rating to a sell rating in a research note issued to investors on Friday morning.
Several other equities research analysts have also issued reports on MMSI. Zacks Investment Research lowered shares of Merit Medical Systems from a buy rating to a hold rating in a report on Tuesday, October 3rd. Canaccord Genuity restated a buy rating and issued a $45.00 target price on shares of Merit Medical Systems in a report on Sunday, October 8th. 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. ValuEngine upgraded shares of Merit Medical Systems from a hold rating to a buy rating in a report on Tuesday, November 21st. Finally, Wells Fargo & Co restated an outperform rating and issued a $51.00 target price (up previously from $46.00) on shares of Merit Medical Systems in a report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $43.77.
Shares of Merit Medical Systems (NASDAQ MMSI) opened at $47.00 on Friday. The stock has a market cap of $2,360.00, a PE ratio of 78.33, a PEG ratio of 2.79 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 has a twelve month low of $24.23 and a twelve month high of $48.10.
In related news, Director Franklin J. Miller sold 10,000 shares of the firm’s stock in a transaction dated Saturday, December 29th. The shares were sold at an average price of $43.93, for a total value of $439,300.00. Following the transaction, the director now owns 21,244 shares of the company’s stock, valued at approximately $933,248.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kent W. Stanger sold 2,918 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $44.55, for a total transaction of $129,996.90. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock worth $1,416,379 in the last ninety days. 5.00% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund increased its stake in Merit Medical Systems by 17.1% in the 2nd quarter. New York State Common Retirement Fund now owns 52,100 shares of the medical instruments supplier’s stock worth $1,988,000 after buying an additional 7,599 shares during the period. Hodges Capital Management Inc. purchased a new position in Merit Medical Systems during the 3rd quarter valued at about $14,253,000. Stevens Capital Management LP purchased a new position in Merit Medical Systems during the 3rd quarter valued at about $594,000. Fred Alger Management Inc. purchased a new position in Merit Medical Systems during the 2nd quarter valued at about $343,000. Finally, New York State Teachers Retirement System increased its position in Merit Medical Systems by 3.6% during the 3rd quarter. New York State Teachers Retirement System now owns 95,033 shares of the medical instruments supplier’s stock valued at $4,025,000 after purchasing an additional 3,300 shares during the period. 88.03% of the stock is currently owned by institutional investors.
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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