Raymond James Financial, Inc. reissued their outperform rating on shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in a research note released on Monday morning, Marketbeat reports. They currently have a $44.00 price target on the medical instruments supplier’s stock.

Other equities research analysts have also recently issued research reports about the stock. Sidoti restated a buy rating and issued a $46.00 price objective (up previously from $41.00) on shares of Merit Medical Systems in a report on Wednesday, June 28th. Craig Hallum restated a buy rating and issued a $50.00 price objective (up previously from $42.00) on shares of Merit Medical Systems in a report on Thursday, July 27th. Bank of America Corporation started coverage on shares of Merit Medical Systems in a report on Thursday, July 20th. They issued a buy rating and a $44.00 price objective on the stock. Piper Jaffray Companies reiterated a buy rating and issued a $45.00 target price on shares of Merit Medical Systems in a research note on Friday, July 28th. Finally, SunTrust Banks, Inc. started coverage on shares of Merit Medical Systems in a research note on Tuesday, June 20th. They issued a buy rating and a $43.00 target price on the stock. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $40.52.

Shares of Merit Medical Systems (NASDAQ:MMSI) opened at 40.50 on Monday. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 57.69 and a beta of 1.26. The stock has a 50 day moving average price of $39.88 and a 200-day moving average price of $34.08. Merit Medical Systems has a one year low of $20.70 and a one year high of $42.60.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.07. The business had revenue of $186.50 million for the quarter, compared to analysts’ expectations of $181.46 million. Merit Medical Systems had a net margin of 5.08% and a return on equity of 5.77%. The business’s revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 earnings per share. On average, equities research analysts expect that Merit Medical Systems will post $1.26 EPS for the current year.

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In related news, Director A Scott Anderson sold 25,000 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $41.15, for a total transaction of $1,028,750.00. Following the transaction, the director now owns 10,400 shares in the company, valued at $427,960. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Nolan E. Karras sold 7,000 shares of the stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $37.15, for a total transaction of $260,050.00. Following the transaction, the director now owns 8,000 shares in the company, valued at approximately $297,200. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,250 shares of company stock worth $3,932,799. Insiders own 5.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of MMSI. Comerica Bank increased its position in shares of Merit Medical Systems by 14.3% in the first quarter. Comerica Bank now owns 55,321 shares of the medical instruments supplier’s stock worth $1,726,000 after buying an additional 6,924 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Merit Medical Systems by 21.5% in the first quarter. BNP Paribas Arbitrage SA now owns 10,017 shares of the medical instruments supplier’s stock worth $289,000 after buying an additional 1,775 shares during the period. Suntrust Banks Inc. bought a new position in shares of Merit Medical Systems during the first quarter worth $214,000. Bank of New York Mellon Corp increased its position in shares of Merit Medical Systems by 14.3% in the first quarter. Bank of New York Mellon Corp now owns 616,121 shares of the medical instruments supplier’s stock worth $17,806,000 after buying an additional 76,912 shares during the period. Finally, US Bancorp DE increased its position in shares of Merit Medical Systems by 45.7% in the first quarter. US Bancorp DE now owns 38,936 shares of the medical instruments supplier’s stock worth $1,125,000 after buying an additional 12,221 shares during the period. Institutional investors own 89.11% of the company’s stock.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc is a manufacturer and marketer of disposable medical devices used in a range of interventional, diagnostic and therapeutic medical procedures. The Company operates in two segments: cardiovascular and endoscopy. The 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, and includes embolotherapeutic, cardiac rhythm management (CRM), electrophysiology (EP), and interventional oncology and spine devices.

Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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