Merit Medical Systems, Inc. (MMSI) Receives $36.71 Average Target Price from Analysts

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have received a consensus recommendation of “Buy” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $39.74.

A number of brokerages have issued reports on MMSI. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $45.00 target price on shares of Merit Medical Systems in a research note on Friday, July 28th. Craig Hallum reaffirmed a “buy” rating and issued a $50.00 target price (up from $42.00) on shares of Merit Medical Systems in a research note on Thursday, July 27th. Bank of America Corporation began coverage on Merit Medical Systems in a research note on Thursday, July 20th. They issued a “buy” rating and a $44.00 target price for the company. Sidoti reaffirmed a “buy” rating and issued a $46.00 target price (up from $41.00) on shares of Merit Medical Systems in a research note on Wednesday, June 28th. Finally, BidaskClub raised Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th.

COPYRIGHT VIOLATION NOTICE: “Merit Medical Systems, Inc. (MMSI) Receives $36.71 Average Target Price from Analysts” was posted by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this report on another site, it was illegally stolen and reposted in violation of international trademark & copyright law. The legal version of this report can be read at https://transcriptdaily.com/2017/08/13/merit-medical-systems-inc-mmsi-receives-consensus-rating-of-buy-from-analysts-updated-updated-updated.html.

In related news, Director F. Ann Millner sold 3,106 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $41.01, for a total transaction of $127,377.06. Following the completion of the sale, the director now directly owns 6,750 shares of the company’s stock, valued at approximately $276,817.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard W. Edelman sold 16,000 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $34.46, for a total value of $551,360.00. Following the sale, the director now directly owns 17,621 shares of the company’s stock, valued at $607,219.66. The disclosure for this sale can be found here. Insiders have sold a total of 147,450 shares of company stock valued at $5,607,192 over the last three months. Corporate insiders own 5.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. purchased a new position in Merit Medical Systems during the first quarter valued at $102,000. SG Americas Securities LLC purchased a new position in Merit Medical Systems during the first quarter valued at $134,000. LS Investment Advisors LLC increased its position in Merit Medical Systems by 8.1% in the second quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock valued at $141,000 after buying an additional 277 shares in the last quarter. Advisors Asset Management Inc. increased its position in Merit Medical Systems by 28.2% in the second quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock valued at $142,000 after buying an additional 820 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in Merit Medical Systems by 13.1% in the first quarter. State of Alaska Department of Revenue now owns 5,430 shares of the medical instruments supplier’s stock valued at $156,000 after buying an additional 630 shares in the last quarter. 92.11% of the stock is owned by institutional investors.

Shares of Merit Medical Systems (MMSI) opened at 39.75 on Tuesday. The stock’s 50 day moving average is $39.04 and its 200 day moving average is $32.99. The company has a market cap of $1.99 billion, a PE ratio of 56.62 and a beta of 1.26. Merit Medical Systems has a 52-week low of $20.70 and a 52-week high of $42.60.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Merit Medical Systems had a return on equity of 9.78% and a net margin of 4.87%. The business had revenue of $186.50 million during the quarter, compared to the consensus estimate of $181.46 million. During the same period last year, the company earned $0.26 EPS. The company’s revenue for the quarter was up 23.4% on a year-over-year basis. Equities analysts forecast that Merit Medical Systems will post $1.26 EPS for the current year.

About Merit Medical Systems

Merit Medical Systems, Inc is a manufacturer and marketer of disposable medical devices used in a range of interventional, diagnostic and therapeutic medical procedures. The Company operates in two segments: cardiovascular and endoscopy. The cardiovascular segment consists of cardiology and radiology devices, which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases, and includes embolotherapeutic, cardiac rhythm management (CRM), electrophysiology (EP), and interventional oncology and spine devices.

Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

Receive News & Ratings for Merit Medical Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merit Medical Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply