Merit Medical Systems Inc. (NASDAQ:MMSI) has earned an average broker rating score of 1.50 (Buy) from the four brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and three have issued a strong buy recommendation on the company.
Analysts have set a 1-year consensus price target of $27.00 for the company and are forecasting that the company will post $0.23 EPS for the current quarter, according to Zacks. Zacks has also assigned Merit Medical Systems an industry rank of 192 out of 265 based on the ratings given to its competitors.
A number of research analysts recently issued reports on the company. Zacks Investment Research cut Merit Medical Systems from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Canaccord Genuity reaffirmed a “buy” rating and issued a $29.00 price target on shares of Merit Medical Systems in a report on Thursday, July 28th. Finally, Barrington Research cut Merit Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th.
Shares of Merit Medical Systems (NASDAQ:MMSI) traded up 0.64% on Tuesday, hitting $23.75. 90,806 shares of the company’s stock traded hands. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 46.57 and a beta of 0.74. The firm’s 50-day moving average price is $24.26 and its 200 day moving average price is $21.41. Merit Medical Systems has a 1-year low of $15.47 and a 1-year high of $25.10.
Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.02. The company earned $151.07 million during the quarter, compared to analysts’ expectations of $147.76 million. Merit Medical Systems had a return on equity of 8.43% and a net margin of 4.06%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share. On average, equities research analysts expect that Merit Medical Systems will post $0.99 earnings per share for the current year.
In other Merit Medical Systems news, Director Richard W. Edelman sold 21,500 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $23.51, for a total transaction of $505,465.00. Following the completion of the sale, the director now directly owns 20,682 shares of the company’s stock, valued at approximately $486,233.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nolan E. Karras sold 5,878 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $23.35, for a total value of $137,251.30. Following the sale, the director now directly owns 5,878 shares of the company’s stock, valued at $137,251.30. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in MMSI. Nordea Investment Management AB boosted its stake in shares of Merit Medical Systems by 315.5% in the second quarter. Nordea Investment Management AB now owns 33,604 shares of the company’s stock valued at $666,000 after buying an additional 25,516 shares in the last quarter. Eagle Boston Investment Management Inc. boosted its stake in shares of Merit Medical Systems by 2.7% in the second quarter. Eagle Boston Investment Management Inc. now owns 581,782 shares of the company’s stock valued at $11,536,000 after buying an additional 15,379 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Merit Medical Systems by 12.5% in the second quarter. Eagle Asset Management Inc. now owns 91,726 shares of the company’s stock valued at $1,818,000 after buying an additional 10,196 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of Merit Medical Systems during the second quarter valued at $307,000. Finally, Capstone Asset Management Co. boosted its stake in shares of Merit Medical Systems by 13.8% in the second quarter. Capstone Asset Management Co. now owns 18,770 shares of the company’s stock valued at $372,000 after buying an additional 2,280 shares in the last quarter. 86.84% of the stock is owned by hedge funds and other institutional investors.
Merit Medical Systems Company Profile
Merit Medical Systems, Inc is a designer, developer, manufacturer and marketer of medical devices used in an array of interventional and diagnostic procedures. The Company operates in two segments: cardiovascular and endoscopy. Its 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; embolotherapeutic products, and cardiac rhythm management and electrophysiology (CRM/EP) devices.
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