Merit Medical Systems (NASDAQ:MMSI) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Merit Medical Systems (NASDAQ:MMSI) from a buy rating to a hold rating in a report published on Wednesday morning.

A number of other research analysts have also recently weighed in on MMSI. Bank of America started coverage on Merit Medical Systems in a research report on Wednesday, February 7th. They issued a neutral rating and a $87.00 price target for the company. Oppenheimer lifted their price objective on Merit Medical Systems from $82.00 to $87.00 and gave the stock an outperform rating in a research report on Thursday, February 29th. CL King began coverage on Merit Medical Systems in a research report on Thursday, April 11th. They set a buy rating and a $88.00 price objective for the company. Raymond James lifted their price objective on Merit Medical Systems from $84.00 to $89.00 and gave the stock an outperform rating in a research report on Tuesday, January 30th. Finally, Canaccord Genuity Group lifted their price objective on Merit Medical Systems from $102.00 to $112.00 and gave the stock a buy rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $93.78.

Merit Medical Systems Trading Up 0.5 %

Shares of MMSI stock opened at $73.78 on Wednesday. Merit Medical Systems has a fifty-two week low of $62.58 and a fifty-two week high of $85.62. The stock has a market cap of $4.28 billion, a P/E ratio of 45.54, a P/E/G ratio of 2.04 and a beta of 0.89. The business has a fifty day simple moving average of $74.52 and a 200-day simple moving average of $73.76. The company has a quick ratio of 3.95, a current ratio of 5.45 and a debt-to-equity ratio of 0.68.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. Merit Medical Systems had a return on equity of 14.63% and a net margin of 7.51%. The business had revenue of $324.52 million during the quarter, compared to analysts’ expectations of $320.66 million. During the same quarter last year, the business posted $0.79 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts forecast that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, Director Thomas James Gunderson sold 18,157 shares of Merit Medical Systems stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $76.03, for a total value of $1,380,476.71. Following the completion of the sale, the director now owns 19,257 shares in the company, valued at approximately $1,464,109.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Merit Medical Systems news, CFO Raul Jr. Parra sold 6,480 shares of Merit Medical Systems stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now owns 12,007 shares in the company, valued at approximately $887,917.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas James Gunderson sold 18,157 shares of Merit Medical Systems stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $76.03, for a total value of $1,380,476.71. Following the completion of the transaction, the director now directly owns 19,257 shares in the company, valued at $1,464,109.71. The disclosure for this sale can be found here. Insiders sold 49,637 shares of company stock worth $3,751,673 in the last 90 days. 3.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Merit Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of MMSI. SG Americas Securities LLC acquired a new position in shares of Merit Medical Systems in the 3rd quarter valued at about $928,000. AMI Asset Management Corp lifted its stake in shares of Merit Medical Systems by 17.7% in the 3rd quarter. AMI Asset Management Corp now owns 70,937 shares of the medical instruments supplier’s stock valued at $4,896,000 after purchasing an additional 10,660 shares in the last quarter. Dakota Wealth Management lifted its stake in shares of Merit Medical Systems by 10.2% in the 3rd quarter. Dakota Wealth Management now owns 3,395 shares of the medical instruments supplier’s stock valued at $234,000 after purchasing an additional 313 shares in the last quarter. Redwood Investments LLC lifted its stake in shares of Merit Medical Systems by 11.2% in the 3rd quarter. Redwood Investments LLC now owns 196,660 shares of the medical instruments supplier’s stock valued at $13,573,000 after purchasing an additional 19,782 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Merit Medical Systems by 10.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 696,575 shares of the medical instruments supplier’s stock valued at $48,078,000 after purchasing an additional 66,944 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.