Merit Medical Systems (NASDAQ:MMSI) Cut to Hold at StockNews.com

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

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group lifted their price target on shares of Merit Medical Systems from $102.00 to $125.00 and gave the stock a buy rating in a research note on Tuesday, July 2nd. Piper Sandler reissued an overweight rating and issued a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Robert W. Baird assumed coverage on Merit Medical Systems in a research note on Friday, June 28th. They issued an outperform rating and a $96.00 price objective on the stock. Baird R W upgraded Merit Medical Systems to a strong-buy rating in a research report on Friday, June 28th. Finally, Bank of America upped their price target on Merit Medical Systems from $92.00 to $103.00 and gave the company a neutral rating in a research report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $101.82.

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock opened at $99.56 on Wednesday. The firm has a fifty day moving average price of $91.73 and a two-hundred day moving average price of $83.10. The company has a market cap of $5.79 billion, a PE ratio of 57.22, a price-to-earnings-growth ratio of 2.53 and a beta of 0.87. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64. Merit Medical Systems has a fifty-two week low of $62.58 and a fifty-two week high of $101.25.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. The firm had revenue of $338.00 million during the quarter, compared to analysts’ expectations of $334.94 million. Analysts expect that Merit Medical Systems will post 3.31 EPS for the current year.

Insider Transactions at Merit Medical Systems

In related news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the transaction, the director now directly owns 32,391 shares of the company’s stock, valued at $2,753,235. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MMSI. Opal Wealth Advisors LLC acquired a new stake in shares of Merit Medical Systems in the 2nd quarter valued at $29,000. Parallel Advisors LLC increased its position in Merit Medical Systems by 114.6% in the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 212 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in Merit Medical Systems during the 1st quarter worth about $44,000. Headlands Technologies LLC acquired a new position in Merit Medical Systems during the 1st quarter valued at about $50,000. Finally, GAMMA Investing LLC boosted its stake in shares of Merit Medical Systems by 142.3% in the 2nd quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier’s stock valued at $71,000 after purchasing an additional 488 shares during the last quarter. 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.