Merit Medical Systems (NASDAQ:MMSI) Downgraded by ValuEngine to Sell

ValuEngine downgraded shares of Merit Medical Systems (NASDAQ:MMSI) from a hold rating to a sell rating in a research note issued to investors on Saturday, ValuEngine reports.

Several other equities research analysts have also issued reports on MMSI. Wells Fargo & Co lowered shares of Merit Medical Systems from an outperform rating to a market perform rating and lowered their price target for the company from $71.00 to $46.00 in a report on Friday, July 26th. Piper Jaffray Companies set a $58.00 price target on shares of Merit Medical Systems and gave the company an overweight rating in a report on Friday, July 26th. Canaccord Genuity lowered their price target on shares of Merit Medical Systems from $63.00 to $53.00 and set a buy rating on the stock in a report on Friday, July 26th. Sidoti set a $74.00 price target on shares of Merit Medical Systems and gave the company a buy rating in a report on Friday, July 26th. Finally, Zacks Investment Research raised shares of Merit Medical Systems from a sell rating to a hold rating and set a $63.00 price target on the stock in a report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $61.75.

MMSI stock traded down $1.46 on Friday, reaching $36.67. 1,137,084 shares of the company were exchanged, compared to its average volume of 949,929. Merit Medical Systems has a 12 month low of $36.23 and a 12 month high of $66.34. The company has a fifty day simple moving average of $52.26. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.83 and a beta of 1.03. The company has a quick ratio of 1.27, a current ratio of 2.42 and a debt-to-equity ratio of 0.48.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, July 25th. The medical instruments supplier reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.08). Merit Medical Systems had a return on equity of 10.40% and a net margin of 4.10%. The company had revenue of $255.50 million for the quarter, compared to the consensus estimate of $258.58 million. During the same period last year, the firm posted $0.43 EPS. The company’s revenue was up 13.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Merit Medical Systems will post 1.79 earnings per share for the current fiscal year.

In other news, EVP Justin J. Lampropoulos sold 8,000 shares of the business’s stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $60.87, for a total value of $486,960.00. Following the sale, the executive vice president now owns 8,000 shares in the company, valued at approximately $486,960. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nolan E. Karras sold 4,000 shares of the business’s stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $60.91, for a total transaction of $243,640.00. Following the completion of the sale, the director now owns 8,000 shares in the company, valued at approximately $487,280. The disclosure for this sale can be found here. Insiders sold a total of 52,750 shares of company stock worth $2,362,638 in the last three months. Insiders own 4.75% of the company’s stock.

Large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Merit Medical Systems by 8.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 381,605 shares of the medical instruments supplier’s stock valued at $22,729,000 after purchasing an additional 28,331 shares during the period. Jennison Associates LLC lifted its position in Merit Medical Systems by 19.1% during the 2nd quarter. Jennison Associates LLC now owns 934,955 shares of the medical instruments supplier’s stock valued at $55,686,000 after purchasing an additional 150,000 shares during the period. Trexquant Investment LP acquired a new position in Merit Medical Systems during the 2nd quarter valued at about $284,000. Ontario Teachers Pension Plan Board acquired a new position in Merit Medical Systems during the 2nd quarter valued at about $3,727,000. Finally, Cim Investment Mangement Inc. lifted its position in Merit Medical Systems by 90.1% during the 2nd quarter. Cim Investment Mangement Inc. now owns 7,289 shares of the medical instruments supplier’s stock valued at $434,000 after purchasing an additional 3,455 shares during the period. Institutional investors own 97.21% of the company’s stock.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc manufactures and markets 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 peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.

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Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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