Merit Medical Systems, Inc. (MMSI) Given a $47.00 Price Target at SunTrust Banks, Inc.
SunTrust Banks, Inc. set a $47.00 price target on Merit Medical Systems, Inc. (NASDAQ:MMSI) in a research report report published on Thursday morning. The firm currently has a buy rating on the medical instruments supplier’s stock.
Several other equities analysts have also weighed in on MMSI. Piper Jaffray Companies restated a buy rating and set a $45.00 target price on shares of Merit Medical Systems in a report on Friday, July 28th. Canaccord Genuity raised their price target on Merit Medical Systems from $45.00 to $47.50 and gave the company a buy rating in a research report on Thursday, October 26th. Zacks Investment Research downgraded Merit Medical Systems from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Bank of America Corporation began coverage on Merit Medical Systems in a research report on Thursday, July 20th. They issued a buy rating and a $44.00 price target on the stock. Finally, Craig Hallum reaffirmed a buy rating and issued a $50.00 price target (up from $42.00) on shares of Merit Medical Systems in a research report on Thursday, July 27th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Merit Medical Systems has an average rating of Buy and an average target price of $42.02.
Merit Medical Systems (NASDAQ:MMSI) traded down $0.25 during midday trading on Thursday, reaching $40.60. The company’s stock had a trading volume of 479,375 shares, compared to its average volume of 389,628. Merit Medical Systems has a one year low of $23.00 and a one year high of $45.50. The company has a current ratio of 2.78, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $2,040.00, a price-to-earnings ratio of 29.29, a P/E/G ratio of 2.52 and a beta of 1.20.
Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Merit Medical Systems had a negative return on equity of 2.15% and a negative net margin of 1.99%. The company had revenue of $179.30 million for the quarter, compared to analyst estimates of $181.28 million. During the same period last year, the company earned $0.26 earnings per share. The business’s revenue was up 14.2% compared to the same quarter last year. analysts forecast that Merit Medical Systems will post 1.27 earnings per share for the current fiscal year.
In other news, Director Kent W. Stanger sold 670 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $42.06, for a total value of $28,180.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC grew its position in Merit Medical Systems by 8.1% during the second quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock worth $141,000 after buying an additional 277 shares in the last quarter. Advisors Asset Management Inc. grew its position in Merit Medical Systems by 28.2% during the second quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock worth $142,000 after buying an additional 820 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in Merit Medical Systems by 20.9% during the second quarter. Ameritas Investment Partners Inc. now owns 4,272 shares of the medical instruments supplier’s stock worth $163,000 after buying an additional 738 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Merit Medical Systems during the third quarter worth about $189,000. Finally, Riverhead Capital Management LLC grew its position in Merit Medical Systems by 67.7% during the second quarter. Riverhead Capital Management LLC now owns 5,198 shares of the medical instruments supplier’s stock worth $198,000 after buying an additional 2,098 shares in the last quarter. 89.52% of the stock is currently owned by institutional investors and hedge funds.
About Merit Medical Systems
Merit Medical Systems, Inc is a manufacturer and marketer of disposable medical devices used in a range of interventional, diagnostic and therapeutic medical procedures. The Company operates in two segments: cardiovascular and endoscopy. The cardiovascular segment consists of cardiology and radiology devices, which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases, and includes embolotherapeutic, cardiac rhythm management (CRM), electrophysiology (EP), and interventional oncology and spine devices.
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