The Merit Medical Systems, Inc. (MMSI) Given Average Rating of “Buy” by Brokerages

The Merit Medical Systems, Inc. (MMSI) Given Average Rating of “Buy” by Brokerages

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.

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