Merit Medical Systems (NASDAQ:MMSI) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
Several other equities research analysts have also issued reports on MMSI. Canaccord Genuity lifted their price target on Merit Medical Systems from $45.00 to $47.50 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Zacks Investment Research raised Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Saturday, October 28th. SunTrust Banks set a $47.00 price target on Merit Medical Systems and gave the stock a “buy” rating in a research note on Thursday, November 16th. ValuEngine raised Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $51.00 price target (up previously from $46.00) on shares of Merit Medical Systems in a research note on Thursday, November 30th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $43.77.
Shares of Merit Medical Systems (NASDAQ MMSI) opened at $45.70 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.78. Merit Medical Systems has a 52 week low of $27.65 and a 52 week high of $48.10. The stock has a market capitalization of $2,294.09, a PE ratio of 74.92, a price-to-earnings-growth ratio of 2.68 and a beta of 1.29.
In other news, Director Kent W. Stanger sold 9,082 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $44.90, for a total value of $407,781.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Franklin J. Miller sold 10,000 shares of the business’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $43.93, for a total value of $439,300.00. Following the completion of the sale, the director now directly owns 21,244 shares of the company’s stock, valued at approximately $933,248.92. The disclosure for this sale can be found here. In the last three months, insiders sold 32,000 shares of company stock valued at $1,416,379. 5.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MMSI. Virtus Fund Advisers LLC bought a new stake in shares of Merit Medical Systems in the 4th quarter valued at about $160,000. Ameritas Investment Partners Inc. lifted its stake in shares of Merit Medical Systems by 20.9% in the 2nd 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 during the last quarter. We Are One Seven LLC purchased a new position in Merit Medical Systems during the 4th quarter valued at about $170,000. SG Americas Securities LLC purchased a new position in Merit Medical Systems during the 3rd quarter valued at about $189,000. Finally, Wolverine Trading LLC purchased a new position in Merit Medical Systems during the 3rd quarter valued at about $226,000. 87.44% of the stock is owned by institutional investors.
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Merit Medical Systems Company Profile
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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