BidaskClub cut shares of Merit Medical Systems (NASDAQ:MMSI) from a buy rating to a hold rating in a report issued on Friday morning.
Other research analysts have also issued reports about the company. Needham & Company LLC assumed coverage on Merit Medical Systems in a research report on Friday. They set a buy rating and a $53.00 price target for the company. Zacks Investment Research lowered Merit Medical Systems from a buy rating to a hold rating in a research report on Thursday, January 25th. SunTrust Banks lifted their target price on Merit Medical Systems from $1.64 to $55.00 and gave the company a buy rating in a report on Wednesday, March 7th. Barrington Research upgraded Merit Medical Systems from a market perform rating to an outperform rating and set a $50.00 target price for the company in a report on Thursday, March 1st. Finally, Canaccord Genuity lifted their target price on Merit Medical Systems from $50.00 to $57.00 and gave the company a buy rating in a report on Thursday, March 1st. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Merit Medical Systems presently has an average rating of Buy and an average price target of $49.17.
Shares of MMSI traded up $0.35 during midday trading on Friday, hitting $45.95. 278,292 shares of the stock were exchanged, compared to its average volume of 313,289. Merit Medical Systems has a 52-week low of $28.75 and a 52-week high of $49.50. The firm has a market cap of $2,294.86, a P/E ratio of 35.35, a P/E/G ratio of 2.09 and a beta of 1.29. The company has a quick ratio of 1.39, a current ratio of 2.73 and a debt-to-equity ratio of 0.38.
A number of large investors have recently added to or reduced their stakes in MMSI. Eagle Asset Management Inc. boosted its holdings in Merit Medical Systems by 209.5% in the fourth quarter. Eagle Asset Management Inc. now owns 1,874,146 shares of the medical instruments supplier’s stock valued at $81,018,000 after purchasing an additional 1,268,635 shares during the period. Carillon Tower Advisers Inc. purchased a new position in Merit Medical Systems in the fourth quarter valued at $13,788,000. Perceptive Advisors LLC lifted its holdings in Merit Medical Systems by 774.0% during the 4th quarter. Perceptive Advisors LLC now owns 874,013 shares of the medical instruments supplier’s stock worth $37,757,000 after buying an additional 774,013 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in Merit Medical Systems by 2,548.7% during the 4th quarter. OppenheimerFunds Inc. now owns 313,866 shares of the medical instruments supplier’s stock worth $13,559,000 after buying an additional 302,016 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in Merit Medical Systems by 1,420.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 304,049 shares of the medical instruments supplier’s stock worth $12,876,000 after buying an additional 284,049 shares during the last quarter. Hedge funds and other institutional investors own 95.22% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This news story was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this news story on another site, it was illegally copied and reposted in violation of U.S. and international trademark and copyright legislation. The correct version of this news story can be accessed at https://stocknewstimes.com/2018/04/21/merit-medical-systems-mmsi-lowered-to-hold-at-bidaskclub.html.
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.
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.