Merit Medical Systems Inc. (MMSI) Sees Strong Trading Volume
Merit Medical Systems Inc. (NASDAQ:MMSI) saw strong trading volume on Monday . 329,045 shares were traded during 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.
A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Merit Medical Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. Canaccord Genuity reiterated a “buy” rating and set a $29.00 price target on shares of Merit Medical Systems in a research report on Thursday, July 28th. Finally, Barrington Research downgraded Merit Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 28th. One investment 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. Merit Medical Systems has a consensus rating of “Buy” and a consensus price target of $23.20.
The firm’s 50-day moving average is $21.87 and its 200-day moving average is $19.43. The stock has a market cap of $1.06 billion and a price-to-earnings ratio of 46.80.
Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, July 27th. The company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.02. The firm earned $151.07 million during the quarter, compared to analysts’ expectations of $147.76 million. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. Analysts expect that Merit Medical Systems Inc. will post $0.99 EPS for the current year.
In other news, Director Nolan E. Karras sold 5,878 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $23.35, for a total value of $137,251.30. Following the completion of the sale, the director now directly owns 5,878 shares of the company’s stock, valued at approximately $137,251.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael E. Stillabower sold 25,000 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $24.29, for a total value of $607,250.00. Following the completion of the sale, the director now directly owns 52,778 shares of the company’s stock, valued at $1,281,977.62. The disclosure for this sale can be found here.
Other institutional investors recently modified their holdings of the company. Victory Capital Management Inc. boosted 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 period. Bank of Montreal Can boosted 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 period. Finally, Rhumbline Advisers boosted 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 period.
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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