Merit Medical Systems (MMSI) Downgraded by ValuEngine

ValuEngine downgraded shares of Merit Medical Systems (NASDAQ:MMSI) from a buy rating to a hold rating in a research note published on Friday.

Several other equities research analysts have also recently weighed in on MMSI. UBS cut shares of Merit Medical Systems from a strong-buy rating to an outperform rating in a research report on Monday, August 28th. Citigroup cut shares of Merit Medical Systems from a strong-buy rating to an outperform rating and set a $44.00 price target for the company. in a research report on Monday, August 28th. They noted that the move was a valuation call. Raymond James Financial reissued an outperform rating and set a $44.00 price target on shares of Merit Medical Systems in a research report on Monday, August 28th. Canaccord Genuity reissued a buy rating and set a $45.00 price target on shares of Merit Medical Systems in a research report on Wednesday, September 6th. Finally, Zacks Investment Research cut shares of Merit Medical Systems from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $43.77.

Shares of Merit Medical Systems (NASDAQ:MMSI) traded down $0.25 during trading on Friday, hitting $43.20. 334,900 shares of the stock were exchanged, compared to its average volume of 387,647. Merit Medical Systems has a 12 month low of $24.23 and a 12 month high of $45.50. The stock has a market cap of $2,168.59, a PE ratio of 34.02, a price-to-earnings-growth ratio of 2.93 and a beta of 1.23. The company has a quick ratio of 1.43, a current ratio of 2.78 and a debt-to-equity ratio of 0.39.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. The company had revenue of $179.30 million during the quarter, compared to analysts’ expectations of $181.28 million. Merit Medical Systems had a net margin of 4.06% and a return on equity of 9.86%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. analysts predict that Merit Medical Systems will post 1.27 earnings per share for the current year.

In other Merit Medical Systems news, Director Kent W. Stanger sold 670 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $42.06, for a total value of $28,180.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 5,518 shares of company stock valued at $239,276 over the last 90 days. Company insiders own 5.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. LS Investment Advisors LLC raised its holdings in Merit Medical Systems by 8.1% in the 2nd quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock worth $141,000 after purchasing an additional 277 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Merit Medical Systems by 28.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock worth $142,000 after purchasing an additional 820 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in Merit Medical Systems by 20.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,272 shares of the medical instruments supplier’s stock worth $163,000 after purchasing an additional 738 shares in the last quarter. SG Americas Securities LLC bought a new position in Merit Medical Systems in the 3rd quarter worth $189,000. Finally, Riverhead Capital Management LLC raised its holdings in Merit Medical Systems by 67.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,198 shares of the medical instruments supplier’s stock worth $198,000 after purchasing an additional 2,098 shares in the last quarter. Institutional investors and hedge funds own 90.89% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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