Merit Medical Systems (MMSI) Raised to “Hold” at BidaskClub

Merit Medical Systems (NASDAQ:MMSI) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, May 8th, BidAskClub reports.

Other analysts also recently issued reports about the company. Needham & Company LLC restated a “buy” rating on shares of Merit Medical Systems in a research report on Thursday, April 25th. Zacks Investment Research upgraded Merit Medical Systems from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Tuesday, April 30th. Finally, ValuEngine lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $67.80.

MMSI stock traded down $1.87 during midday trading on Wednesday, hitting $51.63. The company’s stock had a trading volume of 631,998 shares, compared to its average volume of 379,241. Merit Medical Systems has a 12 month low of $47.30 and a 12 month high of $66.34. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.36 and a quick ratio of 1.25. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 2.26 and a beta of 1.03.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Tuesday, April 23rd. The medical instruments supplier reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $238.35 million during the quarter, compared to the consensus estimate of $236.53 million. Merit Medical Systems had a return on equity of 10.99% and a net margin of 4.68%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. Sell-side analysts anticipate that Merit Medical Systems will post 2.02 EPS for the current fiscal year.

In other Merit Medical Systems news, Director Michael E. Stillabower sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $58.05, for a total value of $580,500.00. Following the completion of the sale, the director now owns 63,618 shares of the company’s stock, valued at $3,693,024.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kent W. Stanger sold 1,216 shares of Merit Medical Systems stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $60.54, for a total value of $73,616.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,216 shares of company stock worth $2,579,837. 4.75% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in MMSI. Benjamin F. Edwards & Company Inc. purchased a new position in Merit Medical Systems during the fourth quarter valued at approximately $36,000. Coastal Investment Advisors Inc. purchased a new stake in shares of Merit Medical Systems in the first quarter valued at approximately $36,000. Financial Gravity Companies Inc. purchased a new stake in shares of Merit Medical Systems in the fourth quarter valued at approximately $43,000. Manchester Capital Management LLC purchased a new stake in shares of Merit Medical Systems in the first quarter valued at approximately $55,000. Finally, Advisory Services Network LLC increased its position in shares of Merit Medical Systems by 1,051.1% in the fourth quarter. Advisory Services Network LLC now owns 2,141 shares of the medical instruments supplier’s stock valued at $120,000 after buying an additional 1,955 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

Merit Medical Systems Company Profile

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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