Merit Medical Systems, Inc. (NASDAQ:MMSI) was downgraded by research analysts at UBS AG from a “strong-buy” rating to an “outperform” rating in a research report issued to clients and investors on Monday, The Fly reports.

A number of other brokerages also recently issued reports on MMSI. Piper Jaffray Companies reaffirmed a “buy” rating and set a $45.00 price target on shares of Merit Medical Systems in a report on Friday, July 28th. Bank of America Corporation began coverage on Merit Medical Systems in a report on Thursday, July 20th. They set a “buy” rating and a $44.00 price target on the stock. Craig Hallum reaffirmed a “buy” rating and set a $50.00 price target (up from $42.00) on shares of Merit Medical Systems in a report on Thursday, July 27th. BidaskClub upgraded Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Finally, Sidoti reiterated a “buy” rating and set a $46.00 price objective (up previously from $41.00) on shares of Merit Medical Systems in a research report on Wednesday, June 28th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.52.

Shares of Merit Medical Systems (NASDAQ:MMSI) traded down 1.35% during trading on Monday, reaching $40.10. 107,058 shares of the company were exchanged. The firm’s 50 day moving average price is $39.88 and its 200 day moving average price is $34.08. The company has a market capitalization of $2.01 billion, a PE ratio of 57.12 and a beta of 1.26. Merit Medical Systems has a one year low of $20.70 and a one year high of $42.60.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $186.50 million for the quarter, compared to the consensus estimate of $181.46 million. Merit Medical Systems had a return on equity of 9.78% and a net margin of 4.87%. The company’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. Equities research analysts forecast that Merit Medical Systems will post $1.26 earnings per share for the current fiscal year.

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In other Merit Medical Systems news, Director Kent W. Stanger sold 7,400 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $42.22, for a total value of $312,428.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director A Scott Anderson sold 25,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $41.15, for a total value of $1,028,750.00. Following the completion of the sale, the director now owns 10,400 shares of the company’s stock, valued at approximately $427,960. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,250 shares of company stock valued at $3,932,799. Company insiders own 5.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan boosted its stake in shares of Merit Medical Systems by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 13,170 shares of the medical instruments supplier’s stock worth $380,000 after buying an additional 210 shares during the last quarter. LS Investment Advisors LLC boosted its stake in shares of Merit Medical Systems by 8.1% in the second quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock worth $141,000 after buying an additional 277 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Merit Medical Systems by 1.3% in the first quarter. Arizona State Retirement System now owns 23,244 shares of the medical instruments supplier’s stock worth $672,000 after buying an additional 300 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Merit Medical Systems by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 20,300 shares of the medical instruments supplier’s stock worth $774,000 after buying an additional 300 shares during the last quarter. Finally, Aperio Group LLC boosted its stake in shares of Merit Medical Systems by 3.9% in the second quarter. Aperio Group LLC now owns 10,467 shares of the medical instruments supplier’s stock worth $399,000 after buying an additional 391 shares during the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

Merit Medical Systems Company Profile

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.

The Fly

Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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