Merit Medical Systems (NASDAQ:MMSI) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Merit Medical Systems (NASDAQ:MMSI - Free Report) from a buy rating to a hold rating in a research note released on Sunday.

MMSI has been the subject of a number of other reports. Robert W. Baird increased their price objective on Merit Medical Systems from $107.00 to $109.00 and gave the stock an "outperform" rating in a research report on Thursday. Needham & Company LLC reaffirmed a "buy" rating and set a $109.00 price objective on shares of Merit Medical Systems in a research report on Thursday. Piper Sandler reaffirmed an "overweight" rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Bank of America increased their price objective on Merit Medical Systems from $92.00 to $103.00 and gave the stock a "neutral" rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company increased their price objective on Merit Medical Systems from $85.00 to $103.00 and gave the stock an "equal weight" rating in a research report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given 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 Stock Performance

NASDAQ:MMSI traded up $0.14 during mid-day trading on Friday, reaching $98.80. 392,724 shares of the stock were exchanged, compared to its average volume of 353,393. The company has a 50 day simple moving average of $96.60 and a 200-day simple moving average of $88.11. The stock has a market capitalization of $5.76 billion, a P/E ratio of 48.43, a P/E/G 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. Merit Medical Systems has a 1 year low of $65.46 and a 1 year high of $101.60.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.06. The firm had revenue of $339.85 million for the quarter, compared to the consensus estimate of $334.60 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. Analysts anticipate that Merit Medical Systems will post 3.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Merit Medical Systems

Several hedge funds and other institutional investors have recently bought and sold shares of MMSI. Opal Wealth Advisors LLC acquired a new position in Merit Medical Systems during the second quarter worth $29,000. DekaBank Deutsche Girozentrale acquired a new position in Merit Medical Systems during the first quarter worth $44,000. Headlands Technologies LLC acquired a new position in Merit Medical Systems during the first quarter worth $50,000. USA Financial Formulas acquired a new position in Merit Medical Systems during the third quarter worth $59,000. Finally, EntryPoint Capital LLC raised its holdings in Merit Medical Systems by 2,666.7% during the first quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier's stock worth $69,000 after purchasing an additional 880 shares during the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Company Profile

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.