Merit Medical Systems (MMSI) – Investment Analysts’ Recent Ratings Changes

Several analysts have recently updated their ratings and price targets for Merit Medical Systems (NASDAQ: MMSI):

  • 5/8/2019 – Merit Medical Systems was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 4/30/2019 – Merit Medical Systems was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $62.00 price target on the stock. According to Zacks, “Merit Medical exited the first quarter of 2019 on a solid note, with significant expansion in adjusted gross margins. Robust Cardiovascular segment is an added positive. Management is optimistic about Merit Medical’s Becton Dickinson deal that is set for completion at the end of this year. The acquisitions of Cianna Medical and Vascular Insights continue to contribute to its results. The company remains optimistic about several new products that are in the pipeline and slated for introduction in the second quarter of 2019. These are expected to aid the company’s growth and margins. Shares of the company outperformed the industry in a year’s time. However, escalating operating expenses remains a concern. Headwinds like stiff competition and higher consolidation in the healthcare industry add to the woes. Sluggishness in the Custom kits and procedure trays and Embolization devices units is also concern.”
  • 4/26/2019 – Merit Medical Systems was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 4/25/2019 – Merit Medical Systems was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 4/25/2019 – Merit Medical Systems had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They wrote, “MMSI’s 1Q19 revenue and EPS beat consensus (due to a lower than expected tax rate). Management reiterated its 2019 revenue and EPS guidance. Organic revenue growth slowed from 4Q18 despite an easier comp. Gross margin expansion was partially offset by higher SG&A but MMSI still delivered 60 bps of Y/Y operating margin improvement. We still believe there are multiple sources of upside to revenue (e.g. BD products are organic, Cianna SCOUT would be incremental) and EPS guidance (e.g. continued margin improvement) and we reiterate our Buy rating.””

Shares of Merit Medical Systems stock traded up $0.21 during trading hours on Thursday, hitting $56.58. 4,866 shares of the company were exchanged, compared to its average volume of 383,375. Merit Medical Systems, Inc. has a 1 year low of $47.30 and a 1 year high of $66.34. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.36 and a quick ratio of 1.25. The stock has a market capitalization of $3.13 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 2.36 and a beta of 1.03.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Tuesday, April 23rd. The medical instruments supplier reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The business had revenue of $238.35 million during the quarter, compared to analysts’ expectations of $236.53 million. Merit Medical Systems had a return on equity of 10.99% and a net margin of 4.68%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share. As a group, equities research analysts anticipate that Merit Medical Systems, Inc. will post 2.02 EPS for the current year.

In related news, CFO Raul Jr. Parra sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $57.11, for a total transaction of $114,220.00. Following the sale, the chief financial officer now directly owns 2,000 shares in the company, valued at approximately $114,220. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Franklin J. Miller sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. Following the sale, the director now owns 34,038 shares in the company, valued at $2,057,256.72. The disclosure for this sale can be found here. Insiders have sold a total of 43,216 shares of company stock worth $2,579,837 over the last 90 days. 4.75% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of MMSI. Benjamin F. Edwards & Company Inc. purchased a new stake in Merit Medical Systems in the 4th quarter worth approximately $36,000. Coastal Investment Advisors Inc. bought a new position in shares of Merit Medical Systems in the 1st quarter worth $36,000. Financial Gravity Companies Inc. bought a new position in shares of Merit Medical Systems in the 4th quarter worth $43,000. Manchester Capital Management LLC bought a new position in shares of Merit Medical Systems in the 1st quarter worth $55,000. Finally, Advisory Services Network LLC increased its holdings in shares of Merit Medical Systems by 1,051.1% in the 4th quarter. Advisory Services Network LLC now owns 2,141 shares of the medical instruments supplier’s stock worth $120,000 after buying an additional 1,955 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Merit Medical Systems, Inc manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.

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