Merit Medical Systems, Inc. (MMSI) Receives Consensus Rating of “Buy” from Analysts
Merit Medical Systems, Inc. (NASDAQ:MMSI) has earned an average recommendation of “Buy” from the ten brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $36.71.
A number of research firms recently commented on MMSI. Sidoti restated a “buy” rating and issued a $46.00 price objective (up previously from $41.00) on shares of Merit Medical Systems in a research report on Wednesday, June 28th. BidaskClub upgraded shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Piper Jaffray Companies restated an “overweight” rating and issued a $39.00 price objective on shares of Merit Medical Systems in a research report on Monday, June 26th. Zacks Investment Research upgraded Merit Medical Systems from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Thursday, June 22nd. Finally, SunTrust Banks, Inc. started coverage on Merit Medical Systems in a report on Tuesday, June 20th. They set a “buy” rating and a $43.00 target price for the company.
Shares of Merit Medical Systems (NASDAQ MMSI) traded down 1.07% during mid-day trading on Tuesday, hitting $37.15. The stock had a trading volume of 482,099 shares. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 55.20 and a beta of 1.24. The stock’s 50-day moving average price is $36.73 and its 200-day moving average price is $31.29. Merit Medical Systems has a 12-month low of $20.70 and a 12-month high of $38.55.
Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Thursday, April 27th. The medical instruments supplier reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.05. Merit Medical Systems had a net margin of 4.80% and a return on equity of 9.36%. The business had revenue of $171.07 million during the quarter, compared to analysts’ expectations of $163.50 million. During the same quarter in the prior year, the company earned $0.19 EPS. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. On average, equities analysts anticipate that Merit Medical Systems will post $1.17 EPS for the current fiscal year.
In other news, insider Richard W. Edelman sold 20,000 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $37.62, for a total transaction of $752,400.00. Following the completion of the transaction, the insider now directly owns 35,000 shares in the company, valued at approximately $1,316,700. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director F. Ann Millner sold 6,744 shares of the stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $38.15, for a total transaction of $257,283.60. Following the transaction, the director now owns 4,247 shares of the company’s stock, valued at $162,023.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,944 shares of company stock valued at $2,944,127. Company insiders own 5.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in 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 in the last quarter. Vanguard Group Inc. increased its position in 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 in the last quarter. Frontier Capital Management Co. LLC increased its position in Merit Medical Systems by 14.3% in the first quarter. Frontier Capital Management Co. LLC now owns 2,193,723 shares of the medical instruments supplier’s stock worth $63,399,000 after buying an additional 274,150 shares in the last quarter. Ameriprise Financial Inc. increased its position in Merit Medical Systems by 11.8% in the first quarter. Ameriprise Financial Inc. now owns 1,677,925 shares of the medical instruments supplier’s stock worth $48,491,000 after buying an additional 177,548 shares in the last quarter. Finally, State Street Corp increased its position in Merit Medical Systems by 1.7% in the first quarter. State Street Corp now owns 1,218,788 shares of the medical instruments supplier’s stock worth $35,223,000 after buying an additional 20,885 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.
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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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