Merit Medical Systems (NASDAQ:MMSI) PT Set at $37.00 by Bank of America

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Merit Medical Systems (NASDAQ:MMSI) received a $37.00 target price from equities researchers at Bank of America in a research note issued on Friday, TipRanks reports. The brokerage presently has a “hold” rating on the medical instruments supplier’s stock. Bank of America‘s price target would indicate a potential upside of 33.77% from the stock’s previous close.

MMSI has been the subject of several other reports. ValuEngine lowered Merit Medical Systems from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Wells Fargo & Co lowered Merit Medical Systems from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $71.00 to $46.00 in a report on Friday, July 26th. Needham & Company LLC lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Friday, July 26th. BidaskClub lowered Merit Medical Systems from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 23rd. Finally, Sidoti set a $74.00 price objective on Merit Medical Systems and gave the company a “buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $57.88.

Merit Medical Systems stock traded up $0.58 during midday trading on Friday, hitting $27.66. The stock had a trading volume of 925,865 shares, compared to its average volume of 1,022,097. 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 stock has a market cap of $1.49 billion, a P/E ratio of 16.37, a P/E/G ratio of 1.28 and a beta of 1.11. Merit Medical Systems has a 12 month low of $25.67 and a 12 month high of $66.34. The business has a fifty day moving average price of $36.13 and a 200 day moving average price of $52.25.

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

In other Merit Medical Systems news, Director Nolan E. Karras sold 4,000 shares of Merit Medical Systems stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $60.91, for a total value of $243,640.00. Following the completion of the transaction, the director now directly owns 8,000 shares in the company, valued at $487,280. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Fred P. Lampropoulos sold 150,000 shares of Merit Medical Systems stock in a transaction that occurred 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 transaction, the chief executive officer now owns 929,991 shares of the company’s stock, valued at $28,569,323.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 246,530 shares of company stock valued at $8,583,650. 4.75% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. FDx Advisors Inc. boosted its stake in Merit Medical Systems by 3.3% in the second quarter. FDx Advisors Inc. now owns 6,318 shares of the medical instruments supplier’s stock valued at $376,000 after acquiring an additional 200 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Merit Medical Systems by 1.2% during the second quarter. State of Alaska Department of Revenue now owns 18,728 shares of the medical instruments supplier’s stock worth $1,115,000 after buying an additional 226 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of Merit Medical Systems by 1.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 16,420 shares of the medical instruments supplier’s stock worth $978,000 after buying an additional 280 shares during the period. Affinity Wealth Management LLC boosted its position in shares of Merit Medical Systems by 6.8% during the first quarter. Affinity Wealth Management LLC now owns 5,265 shares of the medical instruments supplier’s stock worth $326,000 after buying an additional 336 shares during the period. Finally, First Mercantile Trust Co. boosted its position in shares of Merit Medical Systems by 8.0% during the second quarter. First Mercantile Trust Co. now owns 5,076 shares of the medical instruments supplier’s stock worth $303,000 after buying an additional 377 shares during the period. Institutional investors own 99.81% of the company’s stock.

About Merit Medical Systems

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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Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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