Merit Medical Systems (NASDAQ:MMSI) Downgraded by StockNews.com

StockNews.com lowered shares of Merit Medical Systems (NASDAQ:MMSI) from a buy rating to a hold rating in a report published on Wednesday.

Several other research firms have also weighed in on MMSI. Raymond James lifted their target price on shares of Merit Medical Systems from $84.00 to $89.00 and gave the company an outperform rating in a report on Tuesday, January 30th. Oppenheimer lifted their target price on shares of Merit Medical Systems from $82.00 to $87.00 and gave the company an outperform rating in a report on Thursday, February 29th. Piper Sandler lifted their target price on shares of Merit Medical Systems from $88.00 to $95.00 and gave the company an overweight rating in a report on Friday, January 12th. Needham & Company LLC reaffirmed a buy rating and set a $88.00 price target on shares of Merit Medical Systems in a research note on Thursday, April 11th. Finally, Canaccord Genuity Group lifted their price target on shares of Merit Medical Systems from $102.00 to $112.00 and gave the stock a buy rating in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $92.50.

Merit Medical Systems Stock Up 0.5 %

Shares of MMSI opened at $73.78 on Wednesday. The firm has a market cap of $4.28 billion, a PE ratio of 45.54, a price-to-earnings-growth ratio of 2.04 and a beta of 0.89. The company’s fifty day moving average is $74.52 and its two-hundred day moving average is $73.72. Merit Medical Systems has a fifty-two week low of $62.58 and a fifty-two week high of $85.62. The company has a quick ratio of 3.95, a current ratio of 5.45 and a debt-to-equity ratio of 0.68.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.04. The business had revenue of $324.52 million for the quarter, compared to analyst estimates of $320.66 million. Merit Medical Systems had a net margin of 7.51% and a return on equity of 14.63%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. Analysts forecast that Merit Medical Systems will post 3.31 earnings per share for the current year.

Insider Transactions at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 6,480 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now owns 12,007 shares of the company’s stock, valued at approximately $887,917.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Raul Jr. Parra sold 6,480 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now owns 12,007 shares of the company’s stock, valued at approximately $887,917.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas James Gunderson sold 18,157 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $76.03, for a total transaction of $1,380,476.71. Following the sale, the director now directly owns 19,257 shares of the company’s stock, valued at approximately $1,464,109.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,637 shares of company stock valued at $3,751,673. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

A number of institutional investors have recently modified their holdings of the business. Conestoga Capital Advisors LLC grew its position in shares of Merit Medical Systems by 1.0% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,174,483 shares of the medical instruments supplier’s stock valued at $164,717,000 after buying an additional 22,545 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Merit Medical Systems during the 1st quarter valued at about $326,000. KLR Investment Advisors LLC bought a new stake in shares of Merit Medical Systems during the 1st quarter valued at about $278,000. Raymond James & Associates grew its position in shares of Merit Medical Systems by 1.1% during the 1st quarter. Raymond James & Associates now owns 125,091 shares of the medical instruments supplier’s stock valued at $9,476,000 after buying an additional 1,352 shares during the last quarter. Finally, Norden Group LLC bought a new stake in shares of Merit Medical Systems during the 1st quarter valued at about $293,000. Institutional investors own 99.66% of the company’s stock.

About Merit Medical Systems

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.