Merit Medical Systems (NASDAQ:MMSI) Upgraded at BidaskClub

BidaskClub upgraded shares of Merit Medical Systems (NASDAQ:MMSI) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday morning, BidAskClub reports.

Several other equities analysts have also weighed in on the company. Barrington Research raised their target price on Merit Medical Systems from $42.00 to $49.00 and gave the company an outperform rating in a report on Wednesday, May 27th. ValuEngine lowered Merit Medical Systems from a buy rating to a hold rating in a report on Thursday, April 2nd. Sidoti raised their price target on Merit Medical Systems from $55.00 to $63.00 and gave the company a buy rating in a research report on Monday, June 1st. Raymond James raised their price target on Merit Medical Systems from $46.00 to $49.00 and gave the company an outperform rating in a research report on Wednesday, May 27th. Finally, Wells Fargo & Co raised their price target on Merit Medical Systems from $33.00 to $37.00 and gave the company an underweight rating in a research report on Friday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $46.00.

NASDAQ MMSI traded down $1.82 during trading on Thursday, hitting $44.72. 465,374 shares of the company traded hands, compared to its average volume of 363,916. Merit Medical Systems has a 12 month low of $19.50 and a 12 month high of $47.99. The business has a fifty day simple moving average of $43.70 and a 200 day simple moving average of $39.22. The company has a current ratio of 2.56, a quick ratio of 1.42 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $2.48 billion, a P/E ratio of -82.81, a PEG ratio of 3.62 and a beta of 1.13.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, July 29th. The medical instruments supplier reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.24. Merit Medical Systems had a positive return on equity of 8.10% and a negative net margin of 3.10%. The company had revenue of $218.37 million for the quarter, compared to analyst estimates of $192.67 million. During the same period last year, the company earned $0.42 earnings per share. The business’s revenue was down 14.5% compared to the same quarter last year. Equities research analysts predict that Merit Medical Systems will post 1.12 EPS for the current fiscal year.

In related news, Director David Ming-Teh Liu sold 13,800 shares of Merit Medical Systems stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $45.00, for a total transaction of $621,000.00. Following the sale, the director now directly owns 6,300 shares of the company’s stock, valued at $283,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Nolan E. Karras sold 5,000 shares of Merit Medical Systems stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $44.12, for a total value of $220,600.00. Following the sale, the director now directly owns 15,500 shares in the company, valued at $683,860. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,800 shares of company stock worth $1,061,600. 4.70% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC grew its holdings in shares of Merit Medical Systems by 1,878.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,088 shares of the medical instruments supplier’s stock valued at $33,000 after buying an additional 1,033 shares during the period. Versant Capital Management Inc raised its holdings in shares of Merit Medical Systems by 5,416.0% in the 1st quarter. Versant Capital Management Inc now owns 1,379 shares of the medical instruments supplier’s stock valued at $43,000 after purchasing an additional 1,354 shares during the period. Advisor Group Holdings Inc. bought a new stake in shares of Merit Medical Systems in the 1st quarter valued at about $60,000. Strs Ohio bought a new stake in shares of Merit Medical Systems in the 1st quarter valued at about $65,000. Finally, Mutual of America Capital Management LLC raised its holdings in shares of Merit Medical Systems by 21.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 2,373 shares of the medical instruments supplier’s stock valued at $74,000 after purchasing an additional 412 shares during the period. Hedge funds and other institutional investors own 97.49% of the company’s stock.

About Merit Medical Systems

Merit Medical Systems, Inc manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.

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Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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