Merit Medical Systems (MMSI) Downgraded by BidaskClub to “Sell”

BidaskClub cut shares of Merit Medical Systems (NASDAQ:MMSI) from a hold rating to a sell rating in a research note released on Tuesday morning.

A number of other brokerages have also recently commented on MMSI. Canaccord Genuity reaffirmed a buy rating and set a $45.00 price target on shares of Merit Medical Systems in a research report on Sunday, October 8th. Wells Fargo & Company reaffirmed an outperform rating and set a $51.00 price target (up previously from $46.00) on shares of Merit Medical Systems in a research report on Thursday, November 30th. 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. ValuEngine raised shares of Merit Medical Systems from a hold rating to a buy rating in a research report on Tuesday, November 21st. Finally, SunTrust Banks set a $47.00 price objective on shares of Merit Medical Systems and gave the stock a buy rating in a research report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $43.77.

Shares of Merit Medical Systems (NASDAQ MMSI) opened at $43.60 on Tuesday. 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 cap of $2,193.69, a price-to-earnings ratio of 34.41, a price-to-earnings-growth ratio of 2.96 and a beta of 1.23. Merit Medical Systems has a 1 year low of $24.23 and a 1 year high of $45.50.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. The business had revenue of $179.30 million for 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 business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 earnings per share. equities research analysts expect that Merit Medical Systems will post 1.27 EPS for the current fiscal year.

In other news, Director Kent W. Stanger sold 670 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $42.06, for a total transaction of $28,180.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 5,518 shares of company stock worth $239,276 in the last three months. Insiders own 5.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in MMSI. Vanguard Group Inc. raised its holdings in shares of Merit Medical Systems by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 4,374,628 shares of the medical instruments supplier’s stock worth $166,893,000 after acquiring an additional 187,745 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Merit Medical Systems by 24.8% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,737,303 shares of the medical instruments supplier’s stock worth $104,428,000 after acquiring an additional 543,580 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Merit Medical Systems by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,694,722 shares of the medical instruments supplier’s stock worth $102,803,000 after acquiring an additional 19,257 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Merit Medical Systems by 922.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,533,513 shares of the medical instruments supplier’s stock worth $58,504,000 after acquiring an additional 1,383,513 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Merit Medical Systems by 9.9% in the 2nd quarter. State Street Corp now owns 1,339,547 shares of the medical instruments supplier’s stock worth $51,105,000 after acquiring an additional 120,759 shares during the last quarter. 90.89% of the stock is currently owned by institutional investors.

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Merit Medical Systems Company Profile

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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