Several other brokerages have also issued reports on MMSI. Wells Fargo & Co lowered Merit Medical Systems from an outperform rating to a market perform rating and dropped their price target for the stock from $71.00 to $46.00 in a research note on Friday, July 26th. Canaccord Genuity dropped their price target on Merit Medical Systems from $63.00 to $53.00 and set a buy rating for the company in a research note on Friday, July 26th. Needham & Company LLC lowered Merit Medical Systems from a buy rating to a hold rating in a research note on Friday, July 26th. Sidoti set a $74.00 price target on Merit Medical Systems and gave the stock a buy rating in a research note on Friday, July 26th. Finally, Piper Jaffray Companies set a $58.00 price target on Merit Medical Systems and gave the stock an overweight rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $62.00.
MMSI stock traded down $0.04 during mid-day trading on Friday, hitting $40.75. 825,769 shares of the stock were exchanged, compared to its average volume of 781,888. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 1.27. The firm’s fifty day simple moving average is $55.09. Merit Medical Systems has a 12 month low of $38.80 and a 12 month high of $66.34. The company has a market cap of $2.24 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04.
In related news, COO Ronald Frost bought 5,000 shares of the stock in a transaction dated Tuesday, July 30th. The stock was bought at an average price of $40.00 per share, with a total value of $200,000.00. Following the purchase, the chief operating officer now owns 5,000 shares in the company, valued at approximately $200,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Justin J. Lampropoulos sold 8,000 shares of the business’s stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $60.87, for a total value of $486,960.00. Following the completion of the sale, the executive vice president now directly owns 8,000 shares of the company’s stock, valued at approximately $486,960. The disclosure for this sale can be found here. In the last three months, insiders sold 14,000 shares of company stock valued at $844,820. 4.75% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in shares of Merit Medical Systems by 6.5% in the 4th quarter. Bank of America Corp DE now owns 379,199 shares of the medical instruments supplier’s stock valued at $21,164,000 after acquiring an additional 23,277 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in Merit Medical Systems by 1.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 73,513 shares of the medical instruments supplier’s stock valued at $4,544,000 after purchasing an additional 964 shares during the period. Stifel Financial Corp increased its holdings in Merit Medical Systems by 62.2% during the 4th quarter. Stifel Financial Corp now owns 8,158 shares of the medical instruments supplier’s stock valued at $459,000 after purchasing an additional 3,129 shares during the period. THB Asset Management purchased a new position in Merit Medical Systems during the 1st quarter valued at about $474,000. Finally, Geode Capital Management LLC increased its holdings in Merit Medical Systems by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 619,206 shares of the medical instruments supplier’s stock valued at $34,557,000 after purchasing an additional 58,186 shares during the period. 97.60% of the stock is owned by institutional investors.
About Merit Medical Systems
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.
Read More: How is diluted EPS different from basic EPS?
To view ValuEngine’s full report, visit ValuEngine’s official website.
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.