Weekly Investment Analysts’ Ratings Changes for Merit Medical Systems (MMSI)

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Several brokerages have updated their recommendations and price targets on shares of Merit Medical Systems (NASDAQ: MMSI) in the last few weeks:

  • 9/18/2019 – Merit Medical Systems was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 9/17/2019 – Merit Medical Systems had its price target lowered by analysts at Piper Jaffray Companies from $58.00 to $40.00. They now have an “overweight” rating on the stock.
  • 9/13/2019 – Merit Medical Systems was given a new $37.00 price target on by analysts at Bank of America Corp. They now have a “hold” rating on the stock.
  • 9/12/2019 – Merit Medical Systems is now covered by analysts at Barrington Research. They set a “buy” rating and a $59.00 price target on the stock. They wrote, “We would gently suggest that with shares down over 55% over the past few months that perhaps the miss, the guidedown, the “drama”, and even a riskier near‐term growth profile might mostly be “in the stock” at this point. We simply think the risk/reward now favors investment – even if Q3 comes in soft. We will try to make our argument in brief below.””
  • 9/10/2019 – Merit Medical Systems was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating.
  • 8/26/2019 – Merit Medical Systems was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 8/10/2019 – Merit Medical Systems was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 8/2/2019 – Merit Medical Systems was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 7/27/2019 – Merit Medical Systems was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 7/26/2019 – Merit Medical Systems was given a new $58.00 price target on by analysts at Piper Jaffray Companies. They now have an “overweight” rating on the stock.
  • 7/26/2019 – Merit Medical Systems was downgraded by analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating. They now have a $46.00 price target on the stock, down previously from $71.00.
  • 7/26/2019 – Merit Medical Systems was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating.
  • 7/26/2019 – Merit Medical Systems was given a new $74.00 price target on by analysts at Sidoti. They now have a “buy” rating on the stock.
  • 7/26/2019 – Merit Medical Systems had its “buy” rating reaffirmed by analysts at Barrington Research. They now have a $59.00 price target on the stock. They wrote, “We are currently modeling non-GAAP EPS of $1.75 on revenue of $1.014 billion in FY/19.””
  • 7/26/2019 – Merit Medical Systems had its price target lowered by analysts at Canaccord Genuity from $63.00 to $53.00. They now have a “buy” rating on the stock.
  • 7/23/2019 – Merit Medical Systems was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.

NASDAQ MMSI traded up $0.05 during trading on Thursday, reaching $29.98. 309,079 shares of the company’s stock were exchanged, compared to its average volume of 1,067,151. Merit Medical Systems, Inc. has a fifty-two week low of $25.67 and a fifty-two week high of $66.34. The firm has a market capitalization of $1.59 billion, a PE ratio of 17.74, a P/E/G ratio of 1.59 and a beta of 1.11. The company has a current ratio of 2.42, a quick ratio of 1.27 and a debt-to-equity ratio of 0.48. The company’s fifty day simple moving average is $34.63 and its 200-day simple moving average is $51.52.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.08). Merit Medical Systems had a net margin of 4.10% and a return on equity of 10.40%. The firm had revenue of $255.50 million for the quarter, compared to analyst estimates of $258.58 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. Equities analysts forecast that Merit Medical Systems, Inc. will post 1.79 EPS for the current fiscal year.

In related news, COO Ronald Frost purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were acquired at an average price of $40.00 per share, with a total value of $200,000.00. Following the purchase, the chief operating officer now directly owns 5,000 shares in the company, valued at $200,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Fred P. Lampropoulos sold 150,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $30.72, for a total value of $4,608,000.00. Following the completion of the sale, the chief executive officer now directly owns 929,991 shares in the company, valued at approximately $28,569,323.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 234,530 shares of company stock worth $7,853,050. Company insiders own 4.75% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MMSI. Conestoga Capital Advisors LLC acquired a new position in Merit Medical Systems in the second quarter worth $51,321,000. BlackRock Inc. boosted its stake in Merit Medical Systems by 6.2% in the second quarter. BlackRock Inc. now owns 8,567,745 shares of the medical instruments supplier’s stock worth $510,294,000 after purchasing an additional 502,387 shares in the last quarter. Invesco Ltd. boosted its stake in Merit Medical Systems by 65.4% in the second quarter. Invesco Ltd. now owns 971,691 shares of the medical instruments supplier’s stock worth $57,874,000 after purchasing an additional 384,332 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Merit Medical Systems by 1,385.8% in the second quarter. Nuveen Asset Management LLC now owns 401,400 shares of the medical instruments supplier’s stock worth $23,908,000 after purchasing an additional 374,384 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Merit Medical Systems by 151.5% in the second quarter. Morgan Stanley now owns 330,232 shares of the medical instruments supplier’s stock worth $19,668,000 after purchasing an additional 198,936 shares in the last quarter. 98.58% of the stock is currently owned by institutional investors and hedge funds.

Merit Medical Systems, Inc manufactures and markets 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 peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.

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