Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been assigned an average rating of “Hold” from the ten research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $60.14.

A number of research firms have recently weighed in on MMSI. Sidoti set a $74.00 target price on shares of Merit Medical Systems and gave the stock a “buy” rating in a report on Friday, July 26th. Needham & Company LLC downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Barrington Research restated a “buy” rating and issued a $59.00 target price on shares of Merit Medical Systems in a report on Friday, July 26th. Piper Jaffray Companies set a $58.00 target price on shares of Merit Medical Systems and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Wells Fargo & Co downgraded shares of Merit Medical Systems from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $71.00 to $46.00 in a report on Friday, July 26th.

MMSI stock traded down $0.16 during mid-day trading on Thursday, hitting $37.47. The company had a trading volume of 391,613 shares, compared to its average volume of 454,888. The company has a market capitalization of $2.02 billion, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 1.76 and a beta of 1.03. Merit Medical Systems has a 12-month low of $36.23 and a 12-month high of $66.34. The company has a quick ratio of 1.27, a current ratio of 2.42 and a debt-to-equity ratio of 0.48. The firm’s 50-day moving average price is $50.40.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $0.42 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.08). The company had revenue of $255.50 million during the quarter, compared to analysts’ expectations of $258.58 million. Merit Medical Systems had a return on equity of 10.40% and a net margin of 4.10%. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 EPS. On average, research analysts forecast that Merit Medical Systems will post 1.79 earnings per share for the current fiscal year.

In other Merit Medical Systems news, Director Nolan E. Karras sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $60.91, for a total transaction of $243,640.00. Following the transaction, the director now owns 8,000 shares in the company, valued at approximately $487,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Justin J. Lampropoulos sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $60.87, for a total transaction of $486,960.00. Following the transaction, the executive vice president now owns 8,000 shares in the company, valued at approximately $486,960. The disclosure for this sale can be found here. Insiders sold a total of 52,750 shares of company stock valued at $2,362,638 in the last ninety days. Corporate insiders own 4.75% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC purchased a new position in Merit Medical Systems during the second quarter valued at $29,000. Meeder Asset Management Inc. purchased a new position in shares of Merit Medical Systems in the second quarter worth about $32,000. Financial Gravity Wealth Inc. lifted its stake in shares of Merit Medical Systems by 5,241.7% in the second quarter. Financial Gravity Wealth Inc. now owns 641 shares of the medical instruments supplier’s stock worth $38,000 after buying an additional 629 shares in the last quarter. Manchester Capital Management LLC purchased a new position in shares of Merit Medical Systems in the first quarter worth about $55,000. Finally, BB&T Corp purchased a new position in shares of Merit Medical Systems in the second quarter worth about $204,000. Hedge funds and other institutional investors own 98.83% of the company’s stock.

Merit Medical Systems Company Profile

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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