Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been assigned a consensus rating of “Buy” from the fifteen ratings firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $46.42.
Several equities research analysts recently issued reports on MMSI shares. BidaskClub lowered Merit Medical Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. Zacks Investment Research lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Barrington Research upgraded Merit Medical Systems from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Thursday, March 1st. Canaccord Genuity upped their price objective on Merit Medical Systems from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, March 1st. Finally, SunTrust Banks upped their price objective on Merit Medical Systems from $1.64 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, March 7th.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Elkfork Partners LLC bought a new position in Merit Medical Systems during the 4th quarter worth $262,000. Xact Kapitalforvaltning AB bought a new position in shares of Merit Medical Systems in the fourth quarter worth $238,000. We Are One Seven LLC bought a new position in shares of Merit Medical Systems in the fourth quarter worth $170,000. BRYN MAWR TRUST Co grew its stake in shares of Merit Medical Systems by 2.2% in the fourth quarter. BRYN MAWR TRUST Co now owns 158,732 shares of the medical instruments supplier’s stock worth $6,858,000 after purchasing an additional 3,408 shares in the last quarter. Finally, Martin & Co. Inc. TN grew its stake in shares of Merit Medical Systems by 31.9% in the fourth quarter. Martin & Co. Inc. TN now owns 59,760 shares of the medical instruments supplier’s stock worth $2,582,000 after purchasing an additional 14,440 shares in the last quarter. Hedge funds and other institutional investors own 95.32% of the company’s stock.
Shares of MMSI stock traded down $0.60 on Monday, hitting $44.75. 558,748 shares of the stock traded hands, compared to its average volume of 328,320. The company has a current ratio of 2.73, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38. The firm has a market cap of $2,279.60, a P/E ratio of 34.80, a P/E/G ratio of 2.08 and a beta of 1.29. Merit Medical Systems has a 1-year low of $28.00 and a 1-year high of $49.50.
Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The business had revenue of $190.90 million for the quarter, compared to analyst estimates of $187.62 million. Merit Medical Systems had a return on equity of 9.65% and a net margin of 3.78%. The business’s revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. research analysts forecast that Merit Medical Systems will post 1.64 EPS for the current fiscal year.
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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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