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Merit Medical Systems (NASDAQ:MMSI) Sets New 52-Week Low - Should You Sell?

Merit Medical Systems logo with Medical background

Key Points

  • Merit Medical Systems shares reached a new 52-week low, trading as low as $80.10 before closing at $85.65 on Friday.
  • Analysts have a mixed outlook on MMSI with a range of target prices; Canaccord Genuity set a $112.00 target, while Wells Fargo lowered theirs to $100.00.
  • The company reported $1.01 EPS for the last quarter, outperforming expectations, with revenue growth of 13.2% year-over-year.
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Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) reached a new 52-week low on Friday . The company traded as low as $80.10 and last traded at $85.65, with a volume of 711 shares. The stock had previously closed at $85.65.

Analyst Ratings Changes

MMSI has been the subject of a number of recent research reports. Canaccord Genuity Group set a $112.00 target price on Merit Medical Systems and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Robert W. Baird dropped their target price on Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company dropped their target price on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Barrington Research restated an "outperform" rating and set a $103.00 target price on shares of Merit Medical Systems in a research report on Thursday, July 31st. Finally, Piper Sandler dropped their price objective on Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $107.00.

Get Our Latest Report on Merit Medical Systems

Merit Medical Systems Trading Down 0.1%

The company has a debt-to-equity ratio of 0.49, a current ratio of 4.09 and a quick ratio of 2.66. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 43.44, a PEG ratio of 2.80 and a beta of 0.66. The business has a 50 day simple moving average of $90.36 and a 200-day simple moving average of $96.51.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.16. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%. The firm had revenue of $382.46 million during the quarter, compared to analysts' expectations of $372.47 million. During the same period in the previous year, the firm earned $0.92 earnings per share. The company's revenue was up 13.2% on a year-over-year basis. As a group, equities analysts expect that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, CEO Fred P. Lampropoulos sold 20,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $96.54, for a total value of $1,930,800.00. Following the completion of the transaction, the chief executive officer directly owned 1,066,028 shares of the company's stock, valued at approximately $102,914,343.12. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director F. Ann Millner sold 21,250 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $96.47, for a total value of $2,049,987.50. Following the transaction, the director directly owned 34,543 shares of the company's stock, valued at $3,332,363.21. This represents a 38.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,596 shares of company stock valued at $8,171,433. Insiders own 3.20% of the company's stock.

Institutional Trading of Merit Medical Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. Opal Wealth Advisors LLC bought a new stake in Merit Medical Systems during the first quarter worth about $31,000. Maseco LLP bought a new stake in Merit Medical Systems during the second quarter worth about $28,000. IFP Advisors Inc raised its holdings in Merit Medical Systems by 1,435.0% during the first quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier's stock worth $32,000 after acquiring an additional 287 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Merit Medical Systems by 119.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier's stock worth $39,000 after acquiring an additional 200 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Merit Medical Systems by 55.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier's stock worth $35,000 after acquiring an additional 134 shares in the last quarter. Institutional investors own 99.66% of the company's stock.

Merit Medical Systems Company Profile

(Get Free Report)

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.

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