Merit Medical Systems (MMSI) Lowered to “Hold” at BidaskClub

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.

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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.



Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. Merit Medical Systems had a return on equity of 9.65% and a net margin of 3.78%. The business had revenue of $190.90 million during the quarter, compared to analyst estimates of $187.62 million. During the same period last year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up 21.0% on a year-over-year basis. sell-side analysts expect that Merit Medical Systems will post 1.64 earnings per share for the current year.

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.

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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.

Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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