BidaskClub Lowers Merit Medical Systems (MMSI) to Sell

Merit Medical Systems (NASDAQ:MMSI) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.

MMSI has been the subject of several other research reports. Zacks Investment Research raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Saturday, October 28th. Canaccord Genuity raised their price target on shares of Merit Medical Systems from $45.00 to $47.50 and gave the company a “buy” rating in a research note on Thursday, October 26th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $51.00 price target (up previously from $46.00) on shares of Merit Medical Systems in a research note on Thursday, November 30th. ValuEngine upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st. Finally, SunTrust Banks set a $47.00 price objective on shares of Merit Medical Systems and gave the stock a “buy” rating in a research report on Thursday, November 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. Merit Medical Systems has a consensus rating of “Buy” and a consensus target price of $43.77.

Merit Medical Systems (NASDAQ:MMSI) traded up $0.20 during mid-day trading on Friday, hitting $47.00. 158,749 shares of the stock traded hands, compared to its average volume of 264,775. The company has a market capitalization of $2,349.30, a P/E ratio of 77.05, a P/E/G ratio of 2.78 and a beta of 1.23. Merit Medical Systems has a 12-month low of $24.23 and a 12-month high of $48.10. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.78 and a quick ratio of 1.43.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The firm had revenue of $179.30 million during the quarter, compared to the consensus estimate of $181.28 million. Merit Medical Systems had a net margin of 4.06% and a return on equity of 9.86%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 earnings per share. sell-side analysts expect that Merit Medical Systems will post 1.27 earnings per share for the current year.

In other Merit Medical Systems news, Director Franklin J. Miller sold 10,000 shares of the firm’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $43.93, for a total value of $439,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kent W. Stanger sold 2,918 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $44.55, for a total transaction of $129,996.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,000 shares of company stock valued at $1,416,379. 5.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in Merit Medical Systems in the fourth quarter worth $1,454,000. Fisher Asset Management LLC grew its holdings in Merit Medical Systems by 8.5% in the fourth quarter. Fisher Asset Management LLC now owns 187,486 shares of the medical instruments supplier’s stock worth $8,099,000 after purchasing an additional 14,728 shares during the period. American Capital Management Inc. grew its holdings in Merit Medical Systems by 2.5% in the fourth quarter. American Capital Management Inc. now owns 282,195 shares of the medical instruments supplier’s stock worth $12,191,000 after purchasing an additional 6,950 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Merit Medical Systems by 7.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 253,868 shares of the medical instruments supplier’s stock worth $10,968,000 after purchasing an additional 17,999 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in Merit Medical Systems by 6.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 21,600 shares of the medical instruments supplier’s stock worth $933,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds own 89.95% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “BidaskClub Lowers Merit Medical Systems (MMSI) to Sell” was published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international copyright & trademark laws. The original version of this piece can be read at https://www.americanbankingnews.com/2018/01/27/bidaskclub-lowers-merit-medical-systems-mmsi-to-sell.html.

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.

Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

Receive News & Ratings for Merit Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merit Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply