Published On: Sun, Sep 18th, 2016

Merit Medical Systems Inc. (MMSI) Cut to Market Perform at Barrington Research

Merit Medical Systems Inc. (NASDAQ:MMSI) was downgraded by equities researchers at Barrington Research from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday.
Other equities research analysts also recently issued reports about the stock. Canaccord Genuity started coverage on shares of Merit Medical Systems in a research note on Tuesday, July 19th. They issued a “buy” rating and a $27.00 price target on the stock. Zacks Investment Research raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Saturday, July 9th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $23.20.
Merit Medical Systems (NASDAQ:MMSI) traded down 1.19% during midday trading on Thursday, reaching $24.14. 323,272 shares of the company were exchanged. The company has a market capitalization of $1.07 billion, a PE ratio of 47.33 and a beta of 0.80. The firm has a 50-day moving average price of $23.75 and a 200-day moving average price of $20.42. Merit Medical Systems has a 52 week low of $15.47 and a 52 week high of $25.50.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/18/merit-medical-systems-inc-mmsi-cut-to-market-perform-at-barrington-research.html

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $151.07 million for the quarter, compared to the consensus estimate of $147.76 million. Merit Medical Systems had a net margin of 4.06% and a return on equity of 8.43%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. Equities research analysts anticipate that Merit Medical Systems will post $0.99 earnings per share for the current fiscal year.
In related news, Director Nolan E. Karras sold 5,878 shares of Merit Medical Systems stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $23.35, for a total value of $137,251.30. Following the completion of the transaction, the director now owns 5,878 shares in the company, valued at $137,251.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael E. Stillabower sold 25,000 shares of Merit Medical Systems stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $24.29, for a total transaction of $607,250.00. Following the completion of the transaction, the director now owns 52,778 shares of the company’s stock, valued at approximately $1,281,977.62. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nationwide Fund Advisors boosted its position in shares of Merit Medical Systems by 2.7% in the fourth quarter. Nationwide Fund Advisors now owns 120,786 shares of the company’s stock worth $2,245,000 after buying an additional 3,144 shares during the period. California State Teachers Retirement System boosted its position in shares of Merit Medical Systems by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 81,602 shares of the company’s stock worth $1,517,000 after buying an additional 1,289 shares during the period. Rhumbline Advisers boosted its position in shares of Merit Medical Systems by 5.1% in the fourth quarter. Rhumbline Advisers now owns 67,088 shares of the company’s stock worth $1,247,000 after buying an additional 3,265 shares during the period. GSA Capital Partners LLP boosted its position in shares of Merit Medical Systems by 19.8% in the fourth quarter. GSA Capital Partners LLP now owns 84,566 shares of the company’s stock worth $1,572,000 after buying an additional 13,966 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in shares of Merit Medical Systems by 52.3% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 288,238 shares of the company’s stock worth $5,359,000 after buying an additional 98,938 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.
About Merit Medical Systems
Merit Medical Systems, Inc is a designer, developer, manufacturer and marketer of medical devices used in an array of interventional and diagnostic procedures. The Company operates in two segments: cardiovascular and endoscopy. Its 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; embolotherapeutic products, and cardiac rhythm management and electrophysiology (CRM/EP) devices.

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 comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>