Merit Medical Systems (NASDAQ:MMSI) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Merit Medical Systems (NASDAQ:MMSI) from a buy rating to a hold rating in a research report report published on Friday morning.

A number of other research firms have also recently weighed in on MMSI. Canaccord Genuity Group upgraded shares of Merit Medical Systems from a hold rating to a buy rating and set a $100.00 target price on the stock in a research note on Thursday, December 21st. Canaccord Genuity Group increased their price objective on Merit Medical Systems from $102.00 to $112.00 and gave the company a buy rating in a report on Thursday, February 29th. Barrington Research boosted their target price on Merit Medical Systems from $96.00 to $98.00 and gave the company an outperform rating in a research note on Thursday, February 29th. Bank of America assumed coverage on Merit Medical Systems in a research note on Wednesday, February 7th. They set a neutral rating and a $87.00 price target for the company. Finally, Raymond James lifted their price objective on Merit Medical Systems from $84.00 to $89.00 and gave the stock an outperform rating in a report on Tuesday, January 30th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $92.50.

Merit Medical Systems Stock Performance

MMSI stock opened at $71.96 on Friday. The company has a quick ratio of 3.95, a current ratio of 5.45 and a debt-to-equity ratio of 0.68. The firm has a market cap of $4.18 billion, a PE ratio of 44.42, a P/E/G ratio of 2.02 and a beta of 0.89. The business has a 50 day moving average of $75.65 and a 200-day moving average of $73.47. Merit Medical Systems has a 12-month low of $62.58 and a 12-month high of $85.62.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. The firm had revenue of $324.52 million during the quarter, compared to the consensus estimate of $320.66 million. Merit Medical Systems had a return on equity of 14.63% and a net margin of 7.51%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. As a group, sell-side analysts expect that Merit Medical Systems will post 3.31 earnings per share for the current year.

Insider Transactions at Merit Medical Systems

In related news, Director F. Ann Millner sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $80.00, for a total transaction of $1,600,000.00. Following the completion of the transaction, the director now owns 29,960 shares of the company’s stock, valued at $2,396,800. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director F. Ann Millner sold 20,000 shares of Merit Medical Systems stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $80.00, for a total transaction of $1,600,000.00. Following the completion of the sale, the director now owns 29,960 shares of the company’s stock, valued at $2,396,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas James Gunderson sold 18,157 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $76.03, for a total value of $1,380,476.71. Following the transaction, the director now owns 19,257 shares of the company’s stock, valued at $1,464,109.71. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,637 shares of company stock valued at $5,351,673. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Merit Medical Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of Merit Medical Systems by 26.1% during the 1st quarter. JPMorgan Chase & Co. now owns 136,214 shares of the medical instruments supplier’s stock valued at $9,061,000 after buying an additional 28,233 shares in the last quarter. American Century Companies Inc. raised its position in Merit Medical Systems by 17.9% during the first quarter. American Century Companies Inc. now owns 9,016 shares of the medical instruments supplier’s stock valued at $600,000 after purchasing an additional 1,369 shares in the last quarter. Citigroup Inc. lifted its stake in Merit Medical Systems by 8.1% during the first quarter. Citigroup Inc. now owns 49,073 shares of the medical instruments supplier’s stock worth $3,265,000 after purchasing an additional 3,685 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Merit Medical Systems by 55.0% in the 1st quarter. MetLife Investment Management LLC now owns 28,593 shares of the medical instruments supplier’s stock worth $1,902,000 after purchasing an additional 10,143 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Merit Medical Systems by 4.3% during the 1st quarter. Rhumbline Advisers now owns 132,266 shares of the medical instruments supplier’s stock valued at $8,798,000 after purchasing an additional 5,501 shares during the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

About Merit Medical Systems

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.