Merit Medical Systems, Inc. (NASDAQ:MMSI) – Stock analysts at SunTrust Banks increased their Q3 2019 earnings estimates for Merit Medical Systems in a research report issued on Wednesday, November 28th. SunTrust Banks analyst B. Nudell now forecasts that the medical instruments supplier will post earnings per share of $0.52 for the quarter, up from their previous forecast of $0.50. SunTrust Banks has a “Buy” rating and a $68.00 price objective on the stock. SunTrust Banks also issued estimates for Merit Medical Systems’ FY2020 earnings at $2.26 EPS and FY2021 earnings at $2.60 EPS.
MMSI has been the topic of a number of other research reports. Sidoti set a $79.00 target price on Merit Medical Systems and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. Piper Jaffray Companies upped their price objective on Merit Medical Systems from $58.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, October 2nd. Barrington Research boosted their target price on shares of Merit Medical Systems to $69.00 and gave the company an “outperform” rating in a report on Tuesday, October 2nd. Needham & Company LLC upped their price target on shares of Merit Medical Systems from $67.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Finally, Zacks Investment Research cut shares of Merit Medical Systems from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $68.10.
Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, October 25th. The medical instruments supplier reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.05. Merit Medical Systems had a return on equity of 10.86% and a net margin of 4.72%. The firm had revenue of $221.66 million during the quarter, compared to analyst estimates of $217.62 million.
Several institutional investors and hedge funds have recently made changes to their positions in the company. First Hawaiian Bank bought a new position in shares of Merit Medical Systems during the 3rd quarter worth approximately $107,000. Mutual Advisors LLC acquired a new position in Merit Medical Systems during the 2nd quarter valued at approximately $208,000. Intrust Bank NA acquired a new position in Merit Medical Systems during the 2nd quarter valued at approximately $211,000. Alpha Cubed Investments LLC acquired a new position in Merit Medical Systems during the 3rd quarter valued at approximately $211,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Merit Medical Systems by 10,444.4% in the second quarter. Advisors Asset Management Inc. now owns 471,864 shares of the medical instruments supplier’s stock worth $219,000 after acquiring an additional 467,389 shares during the period. 96.19% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Nolan E. Karras sold 2,000 shares of Merit Medical Systems stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $61.28, for a total transaction of $122,560.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director F. Ann Millner sold 9,593 shares of the business’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $56.92, for a total transaction of $546,033.56. Following the completion of the sale, the director now directly owns 7,891 shares of the company’s stock, valued at $449,155.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,593 shares of company stock worth $2,501,846. 5.16% of the stock is currently owned by insiders.
About Merit Medical Systems
Merit Medical Systems, Inc designs, develops, manufactures, and markets various 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 various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.
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