Merit Medical Systems (NASDAQ:MMSI) had its price target lifted by Canaccord Genuity from $70.00 to $72.00 in a research note issued to investors on Friday morning. They currently have a buy rating on the medical instruments supplier’s stock.
MMSI has been the subject of several other research reports. Sidoti set a $79.00 price target on Merit Medical Systems and gave the stock a buy rating in a research note on Tuesday, October 2nd. Raymond James lifted their price target on Merit Medical Systems from $59.00 to $61.00 and gave the stock an outperform rating in a research note on Tuesday, July 24th. Zacks Investment Research downgraded Merit Medical Systems from a hold rating to a sell rating in a research note on Wednesday. Piper Jaffray Companies lifted their price target on Merit Medical Systems from $58.00 to $72.00 and gave the stock an overweight rating in a research note on Tuesday, October 2nd. Finally, SunTrust Banks lifted their price target on Merit Medical Systems to $68.00 and gave the stock a buy rating in a research note on Monday, August 27th. Two research analysts have rated the stock with a sell rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $67.30.
Shares of NASDAQ MMSI traded down $2.95 during trading on Friday, hitting $58.34. 1,240,172 shares of the company were exchanged, compared to its average volume of 520,416. The firm has a market capitalization of $3.35 billion, a P/E ratio of 39.80, a PEG ratio of 2.90 and a beta of 1.38. Merit Medical Systems has a 1 year low of $36.21 and a 1 year high of $66.34. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.45 and a current ratio of 2.66.
Hedge funds have recently made changes to their positions in the stock. FMR LLC raised its stake in Merit Medical Systems by 2.9% in the 2nd quarter. FMR LLC now owns 604,923 shares of the medical instruments supplier’s stock valued at $30,972,000 after purchasing an additional 17,100 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Merit Medical Systems by 0.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 270,682 shares of the medical instruments supplier’s stock valued at $13,859,000 after purchasing an additional 1,297 shares during the last quarter. Amalgamated Bank raised its stake in Merit Medical Systems by 14.4% in the 2nd quarter. Amalgamated Bank now owns 8,025 shares of the medical instruments supplier’s stock valued at $411,000 after purchasing an additional 1,010 shares during the last quarter. Mutual Advisors LLC acquired a new position in Merit Medical Systems in the 2nd quarter valued at about $208,000. Finally, Legal & General Group Plc raised its stake in Merit Medical Systems by 2.0% in the 1st quarter. Legal & General Group Plc now owns 103,520 shares of the medical instruments supplier’s stock valued at $4,655,000 after purchasing an additional 2,039 shares during the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.
Merit Medical Systems Company Profile
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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