Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $41.50 Average PT from Analysts

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been given a consensus rating of “Hold” by the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $41.50.

Several equities research analysts have recently weighed in on MMSI shares. ValuEngine upgraded Merit Medical Systems from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Raymond James downgraded Merit Medical Systems from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. Sidoti reduced their price objective on Merit Medical Systems from $74.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Merit Medical Systems in a report on Thursday, October 31st. Finally, BidaskClub upgraded Merit Medical Systems from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th.

In other news, major shareholder Enterprise Associates 14 New acquired 935,000 shares of Merit Medical Systems stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $15.59 per share, for a total transaction of $14,576,650.00. Also, CFO Raul Jr. Parra acquired 2,525 shares of Merit Medical Systems stock in a transaction on Tuesday, November 5th. The shares were purchased at an average price of $25.50 per share, for a total transaction of $64,387.50. The disclosure for this purchase can be found here. Company insiders own 4.75% of the company’s stock.

Several large investors have recently made changes to their positions in the company. FDx Advisors Inc. increased its holdings in shares of Merit Medical Systems by 3.3% in the 2nd quarter. FDx Advisors Inc. now owns 6,318 shares of the medical instruments supplier’s stock valued at $376,000 after acquiring an additional 200 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Merit Medical Systems by 1.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 18,728 shares of the medical instruments supplier’s stock valued at $1,115,000 after acquiring an additional 226 shares during the period. Municipal Employees Retirement System of Michigan increased its holdings in shares of Merit Medical Systems by 1.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,420 shares of the medical instruments supplier’s stock valued at $978,000 after acquiring an additional 280 shares during the period. First Mercantile Trust Co. increased its holdings in shares of Merit Medical Systems by 8.0% in the 2nd quarter. First Mercantile Trust Co. now owns 5,076 shares of the medical instruments supplier’s stock valued at $303,000 after acquiring an additional 377 shares during the period. Finally, WINTON GROUP Ltd increased its holdings in shares of Merit Medical Systems by 4.5% in the 2nd quarter. WINTON GROUP Ltd now owns 8,934 shares of the medical instruments supplier’s stock valued at $532,000 after acquiring an additional 386 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

Shares of NASDAQ MMSI traded up $0.19 during midday trading on Friday, hitting $26.84. The company’s stock had a trading volume of 31,804 shares, compared to its average volume of 1,111,135. The company has a current ratio of 2.88, a quick ratio of 1.47 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $28.02 and its two-hundred day moving average is $42.26. Merit Medical Systems has a 12-month low of $19.50 and a 12-month high of $64.03. The firm has a market cap of $1.46 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 2.22 and a beta of 0.95.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.17). Merit Medical Systems had a return on equity of 9.23% and a net margin of 1.94%. The business had revenue of $243.05 million during the quarter, compared to analysts’ expectations of $248.53 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, analysts predict that Merit Medical Systems will post 1.41 earnings per share for the current fiscal year.

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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