Merit Medical Systems (NASDAQ:MMSI) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Several other equities analysts have also recently issued reports on MMSI. UBS cut shares of Merit Medical Systems from a “strong-buy” rating to an “outperform” rating in a research note on Monday, August 28th. Citigroup cut shares of Merit Medical Systems from a “strong-buy” rating to an “outperform” rating and set a $44.00 price objective on the stock. in a research note on Monday, August 28th. They noted that the move was a valuation call. Raymond James Financial reissued an “outperform” rating and issued a $44.00 price objective on shares of Merit Medical Systems in a research note on Monday, August 28th. Canaccord Genuity reissued a “buy” rating and issued a $45.00 price objective on shares of Merit Medical Systems in a research note on Wednesday, September 6th. Finally, Zacks Investment Research cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. Merit Medical Systems presently has a consensus rating of “Buy” and an average target price of $43.77.

Shares of Merit Medical Systems (MMSI) traded down $0.55 during trading on Tuesday, hitting $43.30. 254,793 shares of the stock were exchanged, compared to its average volume of 360,136. The firm has a market cap of $2,173.62, a PE ratio of 34.09, a price-to-earnings-growth ratio of 2.93 and a beta of 1.23. Merit Medical Systems has a fifty-two week low of $24.23 and a fifty-two week high of $45.50. The company has a quick ratio of 1.43, a current ratio of 2.78 and a debt-to-equity ratio of 0.39.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $179.30 million for the quarter, compared to analysts’ expectations of $181.28 million. Merit Medical Systems had a net margin of 4.06% and a return on equity of 9.86%. Merit Medical Systems’s revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 EPS. equities analysts expect that Merit Medical Systems will post 1.27 EPS for the current year.

In other Merit Medical Systems news, Director Kent W. Stanger sold 1,930 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $42.02, for a total transaction of $81,098.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 5,518 shares of company stock worth $239,276 over the last 90 days. Insiders own 5.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. LS Investment Advisors LLC boosted its position in shares of Merit Medical Systems by 8.1% during the 2nd quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock worth $141,000 after purchasing an additional 277 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Merit Medical Systems by 28.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock worth $142,000 after purchasing an additional 820 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Merit Medical Systems by 20.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,272 shares of the medical instruments supplier’s stock worth $163,000 after purchasing an additional 738 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Merit Medical Systems in the 3rd quarter worth about $189,000. Finally, Riverhead Capital Management LLC boosted its position in shares of Merit Medical Systems by 67.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,198 shares of the medical instruments supplier’s stock worth $198,000 after buying an additional 2,098 shares in the last quarter. Institutional investors own 90.89% of the company’s stock.

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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.

Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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