Merit Medical Systems, Inc. (NASDAQ:MMSI)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $61.20 and last traded at $60.25, with a volume of 4138 shares changing hands. The stock had previously closed at $60.40.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Tuesday, June 26th. BidaskClub raised shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 27th. Raymond James increased their price objective on shares of Merit Medical Systems from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, July 24th. Barrington Research increased their price objective on shares of Merit Medical Systems from $50.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, July 24th. Finally, SunTrust Banks increased their price target on shares of Merit Medical Systems from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, May 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $63.25.
The company has a current ratio of 2.66, a quick ratio of 1.45 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 48.01, a P/E/G ratio of 2.84 and a beta of 1.33.
Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Monday, July 23rd. The medical instruments supplier reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.03. Merit Medical Systems had a net margin of 2.44% and a return on equity of 10.48%. The company had revenue of $224.81 million for the quarter, compared to the consensus estimate of $214.64 million. During the same quarter in the prior year, the company earned $0.36 EPS. Merit Medical Systems’s quarterly revenue was up 20.5% on a year-over-year basis. research analysts expect that Merit Medical Systems, Inc. will post 1.64 earnings per share for the current year.
In other Merit Medical Systems news, insider Joseph Wright sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the transaction, the insider now owns 9,928 shares in the company, valued at approximately $491,535.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Franklin J. Miller sold 1,500 shares of the firm’s stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $50.05, for a total value of $75,075.00. Following the completion of the transaction, the director now owns 12,744 shares in the company, valued at approximately $637,837.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,706 shares of company stock worth $1,429,899. 5.00% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of MMSI. Wells Fargo & Company MN raised its holdings in Merit Medical Systems by 11.9% in the 1st quarter. Wells Fargo & Company MN now owns 432,554 shares of the medical instruments supplier’s stock valued at $19,616,000 after buying an additional 45,841 shares during the period. Rhumbline Advisers raised its holdings in Merit Medical Systems by 3.0% in the 1st quarter. Rhumbline Advisers now owns 114,515 shares of the medical instruments supplier’s stock valued at $5,193,000 after buying an additional 3,298 shares during the period. Comerica Bank raised its holdings in Merit Medical Systems by 2.5% in the 1st quarter. Comerica Bank now owns 53,914 shares of the medical instruments supplier’s stock valued at $2,458,000 after buying an additional 1,328 shares during the period. SG Americas Securities LLC purchased a new stake in Merit Medical Systems in the 1st quarter valued at about $237,000. Finally, Mackay Shields LLC purchased a new stake in Merit Medical Systems in the 1st quarter valued at about $4,018,000. Institutional investors and hedge funds own 87.82% of the company’s stock.
Merit Medical Systems Company Profile (NASDAQ:MMSI)
Merit Medical Systems, Inc designs, develops, manufactures, and markets various 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 various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.
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