Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been given an average rating of “Buy” by the fourteen ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $43.77.
A number of analysts have issued reports on MMSI shares. Zacks Investment Research downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Canaccord Genuity reissued a “buy” rating and issued a $45.00 target price on shares of Merit Medical Systems in a research report on Sunday, October 8th. SunTrust Banks set a $47.00 target price on Merit Medical Systems and gave the stock a “buy” rating in a research report on Thursday, November 16th. ValuEngine raised Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $51.00 target price (up from $46.00) on shares of Merit Medical Systems in a research report on Thursday, November 30th.
Merit Medical Systems (NASDAQ MMSI) traded up $0.85 during trading hours on Wednesday, reaching $45.30. The company’s stock had a trading volume of 122,544 shares, compared to its average volume of 247,557. The company has a quick ratio of 1.43, a current ratio of 2.78 and a debt-to-equity ratio of 0.39. Merit Medical Systems has a twelve month low of $24.23 and a twelve month high of $46.40. The stock has a market capitalization of $2,231.34, a P/E ratio of 74.26, a P/E/G ratio of 2.60 and a beta of 1.23.
Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. Merit Medical Systems had a return on equity of 9.86% and a net margin of 4.06%. The business had revenue of $179.30 million during the quarter, compared to the consensus estimate of $181.28 million. During the same period last year, the business posted $0.26 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. analysts forecast that Merit Medical Systems will post 1.27 EPS for the current year.
In other news, Director Kent W. Stanger sold 9,082 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $44.90, for a total value of $407,781.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Franklin J. Miller sold 10,000 shares of the firm’s stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $43.93, for a total value of $439,300.00. Following the completion of the transaction, the director now directly owns 21,244 shares of the company’s stock, valued at $933,248.92. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock valued at $1,416,379 over the last ninety days. Corporate insiders own 5.00% of the company’s stock.
A number of large investors have recently bought and sold shares of MMSI. Schwab Charles Investment Management Inc. boosted its stake in Merit Medical Systems by 11.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 224,414 shares of the medical instruments supplier’s stock valued at $8,562,000 after buying an additional 22,718 shares during the period. Legal & General Group Plc boosted its stake in Merit Medical Systems by 13.6% during the second quarter. Legal & General Group Plc now owns 97,750 shares of the medical instruments supplier’s stock valued at $3,725,000 after buying an additional 11,724 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Merit Medical Systems by 70.5% during the second quarter. BNP Paribas Arbitrage SA now owns 17,076 shares of the medical instruments supplier’s stock valued at $651,000 after buying an additional 7,059 shares during the period. Federated Investors Inc. PA boosted its stake in Merit Medical Systems by 27.0% during the second quarter. Federated Investors Inc. PA now owns 6,793 shares of the medical instruments supplier’s stock valued at $259,000 after buying an additional 1,444 shares during the period. Finally, Neuberger Berman Group LLC bought a new stake in Merit Medical Systems during the second quarter valued at $763,000. 90.65% of the stock is owned by institutional investors.
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About Merit Medical Systems
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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