Merit Medical Systems Inc. (MMSI) Sees Unusually-High Trading Volume
Merit Medical Systems Inc. (NASDAQ:MMSI) saw an uptick in trading volume on Monday . 329,045 shares changed hands during mid-day trading, an increase of 4% from the previous session’s volume of 315,207 shares.The stock last traded at $24.37 and had previously closed at $23.51.
Several brokerages have commented on MMSI. Zacks Investment Research lowered shares of Merit Medical Systems from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. Canaccord Genuity reaffirmed a “buy” rating and set a $29.00 target price on shares of Merit Medical Systems in a research note on Thursday, July 28th. Finally, Barrington Research downgraded shares of Merit Medical Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $23.20.
The firm has a market capitalization of $1.08 billion and a price-to-earnings ratio of 47.51. The firm’s 50-day moving average price is $21.70 and its 200 day moving average price is $19.38.
Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. During the same quarter in the previous year, the company posted $0.25 earnings per share. The firm had revenue of $151.07 million for the quarter, compared to the consensus estimate of $147.76 million. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts expect that Merit Medical Systems Inc. will post $0.99 EPS for the current fiscal year.
In related news, Director Nolan E. Karras sold 5,878 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $23.35, for a total transaction of $137,251.30. Following the transaction, the director now directly owns 5,878 shares in the company, valued at approximately $137,251.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Franklin J. Miller sold 15,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $23.52, for a total transaction of $352,800.00. Following the transaction, the director now owns 17,334 shares in the company, valued at $407,695.68. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its position in shares of Merit Medical Systems by 35.1% in the fourth quarter. Victory Capital Management Inc. now owns 62,924 shares of the company’s stock valued at $1,170,000 after buying an additional 16,357 shares during the last quarter. Bank of Montreal Can increased its position in shares of Merit Medical Systems by 234.5% in the fourth quarter. Bank of Montreal Can now owns 100,002 shares of the company’s stock valued at $1,859,000 after buying an additional 70,102 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Merit Medical Systems by 5.1% in the fourth quarter. Rhumbline Advisers now owns 67,088 shares of the company’s stock valued at $1,247,000 after buying an additional 3,265 shares during the last quarter.
Merit Medical Systems, Inc is a designer, developer, manufacturer and marketer of medical devices used in an array of interventional and diagnostic procedures. The Company operates in two segments: cardiovascular and endoscopy. Its 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; embolotherapeutic products, and cardiac rhythm management and electrophysiology (CRM/EP) devices.
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