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

StockNews.com lowered shares of Merit Medical Systems (NASDAQ:MMSI) from a buy rating to a hold rating in a report released on Sunday morning.

Several other analysts have also commented on the stock. Robert W. Baird lifted their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Piper Sandler reissued an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Needham & Company LLC reiterated a “buy” rating and set a $109.00 price target on shares of Merit Medical Systems in a research note on Thursday, October 31st. Finally, Barrington Research restated an “outperform” rating and issued a $114.00 price objective on shares of Merit Medical Systems in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.36.

Merit Medical Systems Stock Performance

MMSI stock opened at $98.79 on Friday. The business has a 50 day moving average of $96.82 and a 200-day moving average of $88.50. The firm has a market cap of $5.76 billion, a PE ratio of 48.43, a P/E/G ratio of 2.45 and a beta of 0.89. Merit Medical Systems has a 12-month low of $65.46 and a 12-month high of $101.60. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $339.85 million during 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 business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. As a group, sell-side analysts expect that Merit Medical Systems will post 3.36 earnings per share for the current year.

Hedge Funds Weigh In On Merit Medical Systems

Large investors have recently modified their holdings of the company. Lisanti Capital Growth LLC bought a new stake in Merit Medical Systems during the 3rd quarter worth approximately $845,000. Chartwell Investment Partners LLC increased its holdings in shares of Merit Medical Systems by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 41,706 shares of the medical instruments supplier’s stock worth $4,122,000 after purchasing an additional 328 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Merit Medical Systems in the third quarter worth $580,000. Atria Investments Inc boosted its stake in Merit Medical Systems by 25.5% during the third quarter. Atria Investments Inc now owns 10,461 shares of the medical instruments supplier’s stock valued at $1,034,000 after buying an additional 2,127 shares during the period. Finally, Impax Asset Management Group plc bought a new stake in Merit Medical Systems during the third quarter valued at $11,860,000. 99.66% of the stock is currently owned by institutional investors.

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.