Merit Medical Systems, Inc. (NASDAQ:MMSI) has earned an average recommendation of “Hold” from the eleven ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $68.50.

Several research firms have recently issued reports on MMSI. Needham & Company LLC lowered Xilinx from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. BidaskClub raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, July 4th. ValuEngine lowered Ultrapar Participacoes from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 25th. Finally, Zacks Investment Research lowered First Merchants from a “hold” rating to a “sell” rating in a research note on Monday, July 1st.

NASDAQ MMSI traded down $0.76 during trading on Friday, hitting $55.02. 624,586 shares of the stock traded hands, compared to its average volume of 370,218. The firm has a market capitalization of $3.03 billion, a P/E ratio of 32.56, a P/E/G ratio of 2.40 and a beta of 1.10. The company has a 50-day moving average of $57.19. The company has a quick ratio of 1.25, a current ratio of 2.36 and a debt-to-equity ratio of 0.39. Merit Medical Systems has a 12-month low of $49.40 and a 12-month high of $66.34.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Tuesday, April 23rd. The medical instruments supplier reported $0.37 earnings per share for the quarter, beating the 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 firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. Equities analysts forecast that Merit Medical Systems will post 2.02 EPS for the current fiscal year.

In related news, EVP Justin J. Lampropoulos sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $60.87, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Raul Jr. Parra sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $57.11, for a total value of $114,220.00. Following the sale, the chief financial officer now directly owns 2,000 shares of the company’s stock, valued at $114,220. The disclosure for this sale can be found here. Insiders have sold a total of 14,000 shares of company stock valued at $844,820 over the last three months. 4.75% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of MMSI. New York State Common Retirement Fund grew its position in Merit Medical Systems by 0.8% in the 4th quarter. New York State Common Retirement Fund now owns 88,382 shares of the medical instruments supplier’s stock worth $4,933,000 after purchasing an additional 707 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Merit Medical Systems by 5.9% in the 4th quarter. Bank of New York Mellon Corp now owns 875,501 shares of the medical instruments supplier’s stock valued at $48,862,000 after buying an additional 48,526 shares during the last quarter. Advisor Group Inc. raised its holdings in Merit Medical Systems by 287.2% in the 4th quarter. Advisor Group Inc. now owns 12,362 shares of the medical instruments supplier’s stock valued at $691,000 after buying an additional 9,169 shares during the last quarter. GSA Capital Partners LLP bought a new position in Merit Medical Systems in the 4th quarter valued at approximately $243,000. Finally, Great West Life Assurance Co. Can raised its holdings in Merit Medical Systems by 7.5% in the 4th quarter. Great West Life Assurance Co. Can now owns 72,549 shares of the medical instruments supplier’s stock valued at $3,735,000 after buying an additional 5,038 shares during the last quarter. 97.88% of the stock is owned by hedge funds and other 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.

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Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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