StockNews.com lowered shares of Merit Medical Systems (NASDAQ:MMSI – Get Rating) from a strong-buy rating to a buy rating in a report issued on Monday morning.
Other research analysts also recently issued reports about the company. Canaccord Genuity Group raised their price objective on Merit Medical Systems from $69.00 to $73.00 in a report on Monday, November 7th. Piper Sandler increased their target price on Merit Medical Systems from $70.00 to $73.00 in a research report on Thursday, October 27th. Raymond James increased their target price on Merit Medical Systems from $71.00 to $72.00 and gave the company an outperform rating in a research report on Thursday, October 27th. TheStreet raised Merit Medical Systems from a c+ rating to a b- rating in a research report on Friday, September 16th. Finally, Canaccord Genuity Group cut Merit Medical Systems from a buy rating to a hold rating and dropped their target price for the company from $73.00 to $72.00 in a research report on Tuesday, December 20th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $73.50.
Get Merit Medical Systems alerts:Merit Medical Systems Trading Down 0.0 %
Shares of NASDAQ MMSI opened at $70.85 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.19 and a current ratio of 2.35. The business's 50 day moving average price is $68.69 and its 200-day moving average price is $61.03. Merit Medical Systems has a fifty-two week low of $50.46 and a fifty-two week high of $76.14. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 65.60, a PEG ratio of 2.51 and a beta of 1.02.
Merit Medical Systems (NASDAQ:MMSI – Get Rating) last issued its quarterly earnings results on Wednesday, October 26th. The medical instruments supplier reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.11. Merit Medical Systems had a return on equity of 14.14% and a net margin of 5.43%. The firm had revenue of $287.18 million for the quarter, compared to the consensus estimate of $273.03 million. On average, sell-side analysts expect that Merit Medical Systems will post 2.57 earnings per share for the current year.Institutional Trading of Merit Medical Systems
A number of institutional investors have recently made changes to their positions in MMSI. Crossmark Global Holdings Inc. lifted its position in Merit Medical Systems by 4.2% during the 1st quarter. Crossmark Global Holdings Inc. now owns 5,212 shares of the medical instruments supplier's stock worth $346,000 after acquiring an additional 210 shares during the period. SG Americas Securities LLC lifted its position in Merit Medical Systems by 746.0% during the 2nd quarter. SG Americas Securities LLC now owns 27,013 shares of the medical instruments supplier's stock worth $1,466,000 after acquiring an additional 23,820 shares during the period. Rhumbline Advisers lifted its position in Merit Medical Systems by 8.8% during the 2nd quarter. Rhumbline Advisers now owns 143,882 shares of the medical instruments supplier's stock worth $7,808,000 after acquiring an additional 11,616 shares during the period. Maryland State Retirement & Pension System lifted its position in Merit Medical Systems by 1.4% during the 2nd quarter. Maryland State Retirement & Pension System now owns 20,671 shares of the medical instruments supplier's stock worth $1,122,000 after acquiring an additional 295 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in Merit Medical Systems by 17.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,337 shares of the medical instruments supplier's stock worth $235,000 after acquiring an additional 647 shares during the period. Institutional investors and hedge funds own 95.38% of the company's stock.
Merit Medical Systems Company Profile
(Get Rating)
Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. The company operates in two segments, Cardiovascular and Endoscopy.
Featured Articles
- Get a free copy of the StockNews.com research report on Merit Medical Systems (MMSI)
- Micron Technology Sees Chip Recovery by the End of 2023
- Three Healthcare Penny Stocks to Watch In The New Year
- Southwest Airlines Stock, There is a Lot to Love
- MarketBeat: Week in Review 12/19 – 12/23
- These Steelmakers Deserve A Place On Your 2023 Watch List
Receive News & Ratings for Merit Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merit Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.