Merit Medical Systems (MMSI) Upgraded to Buy by ValuEngine

Merit Medical Systems (NASDAQ:MMSI) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Tuesday, November 21st.

Several other research firms have also commented on MMSI. Canaccord Genuity reissued a “buy” rating and set a $45.00 price target on shares of Merit Medical Systems in a research report on Sunday, October 8th. Zacks Investment Research lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. SunTrust Banks set a $47.00 price target on shares of Merit Medical Systems and gave the company a “buy” rating in a research report on Thursday, November 16th. Piper Jaffray Companies reissued a “buy” rating and set a $45.00 price target on shares of Merit Medical Systems in a research report on Friday, July 28th. Finally, Raymond James Financial reissued an “outperform” rating and set a $44.00 price target on shares of Merit Medical Systems in a research report on Monday, August 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $43.77.

Merit Medical Systems (NASDAQ:MMSI) traded down $0.35 during trading hours on Tuesday, reaching $43.25. 188,700 shares of the company were exchanged, compared to its average volume of 388,261. Merit Medical Systems has a 52 week low of $24.23 and a 52 week high of $45.50. The stock has a market capitalization of $2,188.67, a price-to-earnings ratio of 34.33, a PEG ratio of 2.95 and a beta of 1.23. The company has a current ratio of 2.78, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. Merit Medical Systems had a net margin of 4.06% and a return on equity of 9.86%. The company had revenue of $179.30 million during the quarter, compared to analyst estimates of $181.28 million. During the same period in the prior year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. sell-side analysts predict that Merit Medical Systems will post 1.27 EPS for the current fiscal year.

In other news, Director Kent W. Stanger sold 670 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $42.06, for a total transaction of $28,180.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 5,518 shares of company stock worth $239,276. Corporate insiders own 5.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. LS Investment Advisors LLC increased its holdings in shares of Merit Medical Systems by 8.1% during the second quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock valued at $141,000 after acquiring an additional 277 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Merit Medical Systems by 28.2% during the second quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock valued at $142,000 after acquiring an additional 820 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Merit Medical Systems by 20.9% during the second quarter. Ameritas Investment Partners Inc. now owns 4,272 shares of the medical instruments supplier’s stock valued at $163,000 after acquiring an additional 738 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Merit Medical Systems during the third quarter valued at about $189,000. Finally, Riverhead Capital Management LLC increased its holdings in shares of Merit Medical Systems by 67.7% during the second quarter. Riverhead Capital Management LLC now owns 5,198 shares of the medical instruments supplier’s stock valued at $198,000 after acquiring an additional 2,098 shares in the last quarter. Hedge funds and other institutional investors own 90.89% of the company’s stock.

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About Merit Medical Systems

Merit Medical Systems, Inc is a manufacturer and marketer of disposable medical devices used in a range of interventional, diagnostic and therapeutic medical procedures. The Company operates in two segments: cardiovascular and endoscopy. The 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, and includes embolotherapeutic, cardiac rhythm management (CRM), electrophysiology (EP), and interventional oncology and spine devices.

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Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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