Merit Medical Systems (NASDAQ:MMSI) PT Lowered to $40.00

Merit Medical Systems (NASDAQ:MMSI) had its price objective cut by Piper Jaffray Companies from $58.00 to $40.00 in a research note published on Tuesday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the medical instruments supplier’s stock.

A number of other analysts have also issued reports on the company. ValuEngine lowered Merit Medical Systems from a hold rating to a sell rating in a research note on Saturday, August 10th. Raymond James lowered Merit Medical Systems from an outperform rating to a market perform rating in a research note on Tuesday, September 10th. Zacks Investment Research raised Merit Medical Systems from a sell rating to a hold rating and set a $63.00 price target on the stock in a research note on Monday, July 1st. Needham & Company LLC lowered Merit Medical Systems from a buy rating to a hold rating in a research note on Friday, July 26th. Finally, Barrington Research initiated coverage on Merit Medical Systems in a research note on Thursday, September 12th. They issued a buy rating and a $59.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $53.63.

Merit Medical Systems stock opened at $30.25 on Tuesday. The stock has a market capitalization of $1.65 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 1.65 and a beta of 1.11. Merit Medical Systems has a 12 month low of $25.67 and a 12 month high of $66.34. The business has a 50 day simple moving average of $34.24 and a 200-day simple moving average of $51.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 1.27.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly 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). The firm had revenue of $255.50 million during the quarter, compared to analyst estimates of $258.58 million. Merit Medical Systems had a return on equity of 10.40% and a net margin of 4.10%. The business’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 earnings per share. On average, equities research analysts anticipate that Merit Medical Systems will post 1.79 EPS for the current fiscal year.

In other Merit Medical Systems news, Director F. Ann Millner sold 3,780 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $36.67, for a total transaction of $138,612.60. Following the transaction, the director now owns 13,298 shares of the company’s stock, valued at $487,637.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael E. Stillabower sold 40,750 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $40.05, for a total value of $1,632,037.50. Following the transaction, the director now directly owns 78,618 shares in the company, valued at approximately $3,148,650.90. The disclosure for this sale can be found here. Insiders have sold 234,530 shares of company stock worth $7,853,050 in the last three months. 4.75% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Investment Advisory Services LLC acquired a new position in Merit Medical Systems during the second quarter worth $29,000. Meeder Asset Management Inc. acquired a new position in Merit Medical Systems during the second quarter worth $32,000. Financial Gravity Wealth Inc. boosted its stake in Merit Medical Systems by 5,241.7% during the second quarter. Financial Gravity Wealth Inc. now owns 641 shares of the medical instruments supplier’s stock worth $38,000 after buying an additional 629 shares during the last quarter. Manchester Capital Management LLC purchased a new stake in Merit Medical Systems in the first quarter valued at $55,000. Finally, BB&T Corp purchased a new stake in Merit Medical Systems in the second quarter valued at $204,000. 98.58% of the stock is currently owned by institutional investors.

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.

See Also: Net Margin

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.