Merit Medical Systems (NASDAQ:MMSI) had its price objective decreased by Piper Jaffray Companies from $58.00 to $40.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. Piper Jaffray Companies currently has an overweight rating on the medical instruments supplier’s stock.

Several other research analysts have also recently weighed in on the company. Barrington Research began coverage on Merit Medical Systems in a research note on Thursday, September 12th. They set a buy rating and a $59.00 target price for the company. Wells Fargo & Co cut Merit Medical Systems from an outperform rating to a market perform rating and decreased their target price for the company from $71.00 to $46.00 in a research note on Friday, July 26th. TheStreet cut Merit Medical Systems from a b- rating to a c+ rating in a research note on Monday, August 26th. Zacks Investment Research raised Merit Medical Systems from a sell rating to a hold rating and set a $63.00 target price for the company in a research note on Monday, July 1st. Finally, ValuEngine cut Merit Medical Systems from a hold rating to a sell rating in a research note on Saturday, August 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $55.63.

Shares of MMSI stock opened at $29.98 on Tuesday. The stock has a 50-day simple moving average of $34.43 and a 200 day simple moving average of $51.38. Merit Medical Systems has a fifty-two week low of $25.67 and a fifty-two week high of $66.34. The stock has a market capitalization of $1.65 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.65 and a beta of 1.11. The company has a quick ratio of 1.27, a current ratio of 2.42 and a debt-to-equity ratio of 0.48.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results 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). Merit Medical Systems had a net margin of 4.10% and a return on equity of 10.40%. The firm had revenue of $255.50 million for the quarter, compared to the consensus estimate of $258.58 million. During the same period in the prior year, the business earned $0.43 EPS. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Merit Medical Systems will post 1.79 earnings per share for the current year.

In other news, Director Michael E. Stillabower sold 40,750 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $40.05, for a total transaction of $1,632,037.50. Following the completion of the sale, the director now directly owns 78,618 shares of the company’s stock, valued at $3,148,650.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Ronald Frost bought 5,000 shares of Merit Medical Systems stock in a transaction dated Tuesday, July 30th. The shares were bought at an average cost of $40.00 per share, with a total value of $200,000.00. Following the completion of the acquisition, the chief operating officer now owns 5,000 shares of the company’s stock, valued at $200,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 234,530 shares of company stock valued at $7,853,050. 4.75% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Investment Advisory Services LLC purchased a new stake in shares of Merit Medical Systems during the second quarter valued at $29,000. Meeder Asset Management Inc. purchased a new stake in Merit Medical Systems in the 2nd quarter worth about $32,000. Financial Gravity Wealth Inc. lifted its stake in Merit Medical Systems by 5,241.7% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 641 shares of the medical instruments supplier’s stock worth $38,000 after acquiring an additional 629 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in Merit Medical Systems in the 1st quarter worth about $55,000. Finally, BB&T Corp purchased a new stake in Merit Medical Systems in the 2nd quarter worth about $204,000. 98.58% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Company Profile

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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