Merit Medical Systems (NASDAQ:MMSI) Rating Lowered 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 report issued on Sunday morning.

A number of other research firms have also recently issued reports on MMSI. Bank of America lifted their price target on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $109.00 price target on shares of Merit Medical Systems in a report on Thursday, October 31st. Robert W. Baird lifted their price target on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Barrington Research reaffirmed an “outperform” rating and issued a $114.00 price target on shares of Merit Medical Systems in a report on Thursday, October 31st. Finally, Piper Sandler reissued an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.36.

Merit Medical Systems Trading Up 3.7 %

Shares of MMSI stock opened at $102.48 on Friday. Merit Medical Systems has a 1 year low of $65.46 and a 1 year high of $102.53. The firm’s fifty day simple moving average is $96.95 and its 200 day simple moving average is $88.59. The firm has a market capitalization of $5.97 billion, a P/E ratio of 50.24, a price-to-earnings-growth ratio of 2.46 and a beta of 0.89. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The company had revenue of $339.85 million for the quarter, compared to the consensus estimate of $334.60 million. During the same quarter in the previous year, the company earned $0.75 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts predict that Merit Medical Systems will post 3.36 EPS for the current year.

Hedge Funds Weigh In On Merit Medical Systems

A number of large investors have recently bought and sold shares of MMSI. Norden Group LLC acquired a new stake in shares of Merit Medical Systems in the 1st quarter valued at approximately $293,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Merit Medical Systems in the 1st quarter valued at approximately $336,000. BNP Paribas Financial Markets boosted its holdings in shares of Merit Medical Systems by 55.3% in the 1st quarter. BNP Paribas Financial Markets now owns 52,953 shares of the medical instruments supplier’s stock valued at $4,011,000 after buying an additional 18,863 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Merit Medical Systems in the 1st quarter valued at $90,000. Finally, FORA Capital LLC bought a new stake in Merit Medical Systems in the 1st quarter valued at $577,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Company Profile

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.