BidaskClub upgraded shares of Merit Medical Systems (NASDAQ:MMSI) from a hold rating to a buy rating in a report released on Tuesday.
A number of other research firms have also recently commented on MMSI. Zacks Investment Research cut Merit Medical Systems from a buy rating to a hold rating in a 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 on the stock in a report on Thursday, March 1st. Canaccord Genuity upped their price objective on Merit Medical Systems from $50.00 to $57.00 and gave the company a buy rating in a report on Thursday, March 1st. SunTrust Banks upped their price objective on Merit Medical Systems from $1.64 to $55.00 and gave the company a buy rating in a report on Wednesday, March 7th. Finally, ValuEngine upgraded Merit Medical Systems from a hold rating to a buy rating in a report on Monday. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $46.42.
MMSI traded down $0.30 during trading hours on Tuesday, reaching $45.70. The company’s stock had a trading volume of 57,078 shares, compared to its average volume of 323,693. Merit Medical Systems has a fifty-two week low of $28.05 and a fifty-two week high of $49.50. The stock has a market capitalization of $2,272.21, a PE ratio of 35.00, a P/E/G ratio of 2.07 and a beta of 1.29. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.39 and a current ratio of 2.73.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank raised its position in Merit Medical Systems by 2.4% in the fourth quarter. Swiss National Bank now owns 85,400 shares of the medical instruments supplier’s stock valued at $3,689,000 after purchasing an additional 2,000 shares during the period. Wells Fargo & Company MN raised its position in Merit Medical Systems by 189.2% in the third quarter. Wells Fargo & Company MN now owns 324,487 shares of the medical instruments supplier’s stock valued at $13,742,000 after purchasing an additional 212,304 shares during the period. Sei Investments Co. raised its position in Merit Medical Systems by 28.1% in the fourth quarter. Sei Investments Co. now owns 224,109 shares of the medical instruments supplier’s stock valued at $9,682,000 after purchasing an additional 49,183 shares during the period. Schwab Charles Investment Management Inc. raised its position in Merit Medical Systems by 7.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 253,868 shares of the medical instruments supplier’s stock valued at $10,968,000 after purchasing an additional 17,999 shares during the period. Finally, Pinebridge Investments L.P. raised its position in Merit Medical Systems by 210.2% in the fourth quarter. Pinebridge Investments L.P. now owns 19,298 shares of the medical instruments supplier’s stock valued at $833,000 after purchasing an additional 13,077 shares during the period. 95.32% of the stock is currently owned by institutional investors.
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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