Merit Medical Systems, Inc. (MMSI) Receives Consensus Rating of “Buy” from Analysts

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been assigned a consensus rating of “Buy” from the twelve research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $68.10.

MMSI has been the subject of several research analyst reports. Zacks Investment Research upgraded Merit Medical Systems from a “sell” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Monday, October 29th. Canaccord Genuity upped their price target on Merit Medical Systems from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, October 26th. Sidoti set a $79.00 price target on Merit Medical Systems and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. Needham & Company LLC upped their price target on Merit Medical Systems from $67.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. Finally, SunTrust Banks upped their price target on Merit Medical Systems to $68.00 and gave the stock a “buy” rating in a research note on Monday, August 27th.

In other news, COO Ronald Frost sold 5,257 shares of the stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $61.31, for a total value of $322,306.67. Following the completion of the sale, the chief operating officer now owns 5,257 shares in the company, valued at $322,306.67. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nolan E. Karras sold 2,000 shares of the stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $61.28, for a total value of $122,560.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,593 shares of company stock valued at $2,501,846. Insiders own 5.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of MMSI. Point72 Asset Management L.P. grew its stake in shares of Merit Medical Systems by 950.2% in the third quarter. Point72 Asset Management L.P. now owns 1,345,468 shares of the medical instruments supplier’s stock valued at $82,679,000 after buying an additional 1,217,352 shares in the last quarter. BlackRock Inc. grew its stake in shares of Merit Medical Systems by 13.3% in the third quarter. BlackRock Inc. now owns 7,985,361 shares of the medical instruments supplier’s stock valued at $490,700,000 after buying an additional 939,589 shares in the last quarter. Partner Fund Management L.P. grew its stake in shares of Merit Medical Systems by 69.9% in the second quarter. Partner Fund Management L.P. now owns 1,455,616 shares of the medical instruments supplier’s stock valued at $74,528,000 after buying an additional 598,822 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Merit Medical Systems by 11.0% in the third quarter. Vanguard Group Inc. now owns 5,286,818 shares of the medical instruments supplier’s stock valued at $324,875,000 after buying an additional 522,994 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Merit Medical Systems by 10,444.4% in the second quarter. Advisors Asset Management Inc. now owns 471,864 shares of the medical instruments supplier’s stock valued at $219,000 after buying an additional 467,389 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

NASDAQ:MMSI traded down $0.95 on Friday, hitting $60.59. 467,291 shares of the stock were exchanged, compared to its average volume of 391,920. The firm has a market capitalization of $3.37 billion, a PE ratio of 47.34, a P/E/G ratio of 2.83 and a beta of 1.22. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.77 and a quick ratio of 1.47. Merit Medical Systems has a fifty-two week low of $41.55 and a fifty-two week high of $66.34.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, October 25th. The medical instruments supplier reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.05. The company had revenue of $221.66 million during the quarter, compared to analyst estimates of $217.62 million. Merit Medical Systems had a return on equity of 10.86% and a net margin of 4.72%. As a group, research analysts anticipate that Merit Medical Systems will post 1.67 earnings per share for the current year.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets various disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.

Further Reading: Earnings Reports

Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

Receive News & Ratings for Merit Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merit Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply