Merit Medical Systems (NASDAQ:MMSI) Downgraded to Hold Rating by StockNews.com

Merit Medical Systems (NASDAQ:MMSI) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Several other equities research analysts also recently commented on MMSI. Bank of America lifted their price objective on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Robert W. Baird boosted their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday. Barrington Research restated an “outperform” rating and issued a $114.00 target price on shares of Merit Medical Systems in a report on Thursday. Wells Fargo & Company boosted their target price on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Finally, Piper Sandler reissued an “overweight” rating and set a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.36.

Merit Medical Systems Trading Up 0.1 %

NASDAQ:MMSI opened at $98.80 on Friday. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 48.43, a PEG ratio of 2.45 and a beta of 0.89. The company has a quick ratio of 4.64, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average price is $96.60 and its 200-day moving average price is $87.99. Merit Medical Systems has a 52 week low of $65.46 and a 52 week high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The business had revenue of $339.85 million for the quarter, compared to the consensus estimate of $334.60 million. During the same period last year, the business posted $0.75 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts forecast that Merit Medical Systems will post 3.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Merit Medical Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Merit Medical Systems in the second quarter worth $29,000. DekaBank Deutsche Girozentrale purchased a new stake in Merit Medical Systems in the 1st quarter worth $44,000. Headlands Technologies LLC bought a new stake in Merit Medical Systems during the first quarter valued at about $50,000. USA Financial Formulas purchased a new position in shares of Merit Medical Systems in the third quarter valued at about $59,000. Finally, EntryPoint Capital LLC boosted its stake in shares of Merit Medical Systems by 2,666.7% in the first quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock worth $69,000 after acquiring an additional 880 shares during the period. Institutional investors own 99.66% of the company’s stock.

About Merit Medical Systems

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.