Merit Medical Systems (MMSI) Rating Increased to Hold at BidaskClub

Merit Medical Systems (NASDAQ:MMSI) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Thursday.

MMSI has been the subject of a number of other research reports. ValuEngine downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $51.00 price target (up from $46.00) on shares of Merit Medical Systems in a research note on Thursday, November 30th. Zacks Investment Research raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Saturday, October 28th. SunTrust Banks set a $47.00 price target on shares of Merit Medical Systems and gave the company a “buy” rating in a research note on Thursday, November 16th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $45.00 price target on shares of Merit Medical Systems in a research note on Sunday, October 8th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $43.77.

Merit Medical Systems (NASDAQ MMSI) opened at $46.80 on Thursday. Merit Medical Systems has a 52 week low of $24.23 and a 52 week high of $47.50. The firm has a market cap of $2,274.01, a price-to-earnings ratio of 76.72, a P/E/G ratio of 2.69 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.78.

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, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $181.28 million. During the same quarter last year, the firm earned $0.26 earnings per share. Merit Medical Systems’s quarterly revenue was up 14.2% on a year-over-year basis. analysts expect that Merit Medical Systems will post 1.27 EPS for the current fiscal year.

In other news, Director Franklin J. Miller sold 10,000 shares of the business’s stock in a transaction dated Saturday, December 29th. The shares were 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 directly owns 21,244 shares of the company’s stock, valued at $933,248.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kent W. Stanger sold 9,082 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $44.90, for a total transaction of $407,781.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,000 shares of company stock valued at $1,416,379. Insiders own 5.00% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its position in shares of Merit Medical Systems by 7.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 253,868 shares of the medical instruments supplier’s stock worth $10,968,000 after acquiring an additional 17,999 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Merit Medical Systems by 6.4% during the fourth 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 in the last quarter. Wolverine Trading LLC bought a new stake in shares of Merit Medical Systems during the third quarter worth about $226,000. Insight Capital Research & Management Inc. bought a new stake in shares of Merit Medical Systems during the third quarter worth about $1,258,000. Finally, Neuberger Berman Group LLC increased its position in shares of Merit Medical Systems by 1,420.2% during the third quarter. Neuberger Berman Group LLC now owns 304,049 shares of the medical instruments supplier’s stock worth $12,876,000 after acquiring an additional 284,049 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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