Merit Medical Systems, Inc. (NASDAQ:MMSI) has been assigned an average rating of “Buy” from the twelve analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $68.10.
MMSI has been the topic of a number of recent research reports. Zacks Investment Research raised Merit Medical Systems from a “sell” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Monday, October 29th. Canaccord Genuity boosted their target price on Merit Medical Systems from $70.00 to $72.00 and gave the company a “buy” rating in a report on Friday, October 26th. Sidoti set a $79.00 target price on Merit Medical Systems and gave the company a “buy” rating in a report on Tuesday, October 2nd. Needham & Company LLC boosted their target price on Merit Medical Systems from $67.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, October 2nd. Finally, SunTrust Banks upped their price objective on Merit Medical Systems to $68.00 and gave the stock a “buy” rating in a report on Monday, August 27th.
Shares of NASDAQ:MMSI traded down $0.95 during trading on Friday, reaching $60.59. The company had a trading volume of 467,291 shares, compared to its average volume of 391,920. The firm has a market cap of $3.37 billion, a P/E ratio of 47.34, a PEG ratio of 2.83 and a beta of 1.22. The company has a current ratio of 2.77, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Merit Medical Systems has a fifty-two week low of $41.55 and a fifty-two week high of $66.34.
Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Thursday, October 25th. The medical instruments supplier reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.05. The business had revenue of $221.66 million for the quarter, compared to analyst estimates of $217.62 million. Merit Medical Systems had a return on equity of 10.86% and a net margin of 4.72%. Research analysts forecast that Merit Medical Systems will post 1.67 EPS for the current fiscal year.
In other Merit Medical Systems news, EVP Justin J. Lampropoulos sold 20,000 shares of the business’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $61.01, for a total transaction of $1,220,200.00. Following the sale, the executive vice president now directly owns 20,000 shares in the company, valued at $1,220,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Ronald Frost sold 5,257 shares of the business’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $61.31, for a total value of $322,306.67. Following the sale, the chief operating officer now owns 5,257 shares in the company, valued at $322,306.67. The disclosure for this sale can be found here. Insiders have sold 41,593 shares of company stock worth $2,501,846 in the last ninety days. 5.00% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC boosted its position in Merit Medical Systems by 2.9% during the second quarter. FMR LLC now owns 604,923 shares of the medical instruments supplier’s stock worth $30,972,000 after purchasing an additional 17,100 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in Merit Medical Systems by 5.1% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 305,043 shares of the medical instruments supplier’s stock worth $18,745,000 after purchasing an additional 14,700 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Merit Medical Systems by 0.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 270,682 shares of the medical instruments supplier’s stock worth $13,859,000 after purchasing an additional 1,297 shares in the last quarter. Mutual Advisors LLC purchased a new stake in Merit Medical Systems during the second quarter worth $208,000. Finally, Amalgamated Bank boosted its position in Merit Medical Systems by 14.4% during the second quarter. Amalgamated Bank now owns 8,025 shares of the medical instruments supplier’s stock worth $411,000 after purchasing an additional 1,010 shares in the last quarter. Institutional investors own 96.19% of the company’s stock.
Merit Medical Systems Company Profile
Merit Medical Systems, Inc designs, develops, manufactures, and markets various 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 various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.
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