Several brokerages have recently weighed in on MMSI. Craig Hallum restated a “buy” rating and set a $50.00 price objective (up previously from $42.00) on shares of Merit Medical Systems in a research report on Thursday, July 27th. Piper Jaffray Companies reiterated a “buy” rating and issued a $45.00 price target on shares of Merit Medical Systems in a research report on Friday, July 28th. Bank of America Corporation began coverage on shares of Merit Medical Systems in a research report on Thursday, July 20th. They issued a “buy” rating and a $44.00 price target for the company. Zacks Investment Research downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $20.00 price target on shares of Merit Medical Systems in a research report on Thursday, April 6th.
Merit Medical Systems, Inc. (NASDAQ:MMSI) has been given a consensus recommendation of “Buy” by the ten analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $39.74.
In other news, Director Michael E. Stillabower sold 17,110 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $33.71, for a total transaction of $576,778.10. Following the transaction, the director now directly owns 52,778 shares of the company’s stock, valued at approximately $1,779,146.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Richard W. Edelman sold 29,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $41.19, for a total transaction of $1,194,510.00. Following the transaction, the insider now directly owns 35,000 shares in the company, valued at $1,441,650. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,944 shares of company stock valued at $4,138,637. 5.60% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of MMSI. BlackRock Inc. boosted its stake in shares of Merit Medical Systems by 7,837.9% in the first quarter. BlackRock Inc. now owns 6,789,527 shares of the medical instruments supplier’s stock worth $196,218,000 after buying an additional 6,703,994 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Merit Medical Systems during the first quarter worth approximately $444,000. Vanguard Group Inc. boosted its stake in shares of Merit Medical Systems by 16.1% in the first quarter. Vanguard Group Inc. now owns 4,186,883 shares of the medical instruments supplier’s stock worth $121,001,000 after buying an additional 580,871 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Merit Medical Systems during the first quarter worth approximately $15,657,000. Finally, Marshall Wace North America L.P. purchased a new position in Merit Medical Systems during the first quarter worth about $15,657,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Merit Medical Systems (NASDAQ MMSI) traded down 0.660% during midday trading on Tuesday, hitting $41.375. 400,008 shares of the stock were exchanged. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 58.939 and a beta of 1.25. The firm’s 50-day moving average is $37.83 and its 200-day moving average is $32.25. Merit Medical Systems has a 12 month low of $20.70 and a 12 month high of $42.25.
Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.07. The business had revenue of $186.50 million during the quarter, compared to the consensus estimate of $181.46 million. Merit Medical Systems had a net margin of 4.87% and a return on equity of 9.78%. The company’s revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. Equities research analysts predict that Merit Medical Systems will post $1.24 earnings per share for the current year.
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.