SunTrust Banks, Inc. set a $47.00 price target on Merit Medical Systems, Inc. (NASDAQ:MMSI) in a research report report published on Thursday morning. The firm currently has a buy rating on the medical instruments supplier’s stock.

Several other equities analysts have also weighed in on MMSI. Piper Jaffray Companies restated a buy rating and set a $45.00 target price on shares of Merit Medical Systems in a report on Friday, July 28th. Canaccord Genuity raised their price target on Merit Medical Systems from $45.00 to $47.50 and gave the company a buy rating in a research report on Thursday, October 26th. Zacks Investment Research downgraded Merit Medical Systems from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Bank of America Corporation began coverage on Merit Medical Systems in a research report on Thursday, July 20th. They issued a buy rating and a $44.00 price target on the stock. Finally, Craig Hallum reaffirmed a buy rating and issued a $50.00 price target (up from $42.00) on shares of Merit Medical Systems in a research report on Thursday, July 27th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Merit Medical Systems has an average rating of Buy and an average target price of $42.02.

Merit Medical Systems (NASDAQ:MMSI) traded down $0.25 during midday trading on Thursday, reaching $40.60. The company’s stock had a trading volume of 479,375 shares, compared to its average volume of 389,628. Merit Medical Systems has a one year low of $23.00 and a one year high of $45.50. The company has a current ratio of 2.78, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $2,040.00, a price-to-earnings ratio of 29.29, a P/E/G ratio of 2.52 and a beta of 1.20.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Merit Medical Systems had a negative return on equity of 2.15% and a negative net margin of 1.99%. The company had revenue of $179.30 million for the quarter, compared to analyst estimates of $181.28 million. During the same period last year, the company earned $0.26 earnings per share. The business’s revenue was up 14.2% compared to the same quarter last year. analysts forecast that Merit Medical Systems will post 1.27 earnings per share for the current fiscal year.

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In other news, Director Kent W. Stanger sold 670 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $42.06, for a total value of $28,180.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC grew its position in Merit Medical Systems by 8.1% during the second quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock worth $141,000 after buying an additional 277 shares in the last quarter. Advisors Asset Management Inc. grew its position in Merit Medical Systems by 28.2% during the second quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock worth $142,000 after buying an additional 820 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in Merit Medical Systems by 20.9% during the second quarter. Ameritas Investment Partners Inc. now owns 4,272 shares of the medical instruments supplier’s stock worth $163,000 after buying an additional 738 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Merit Medical Systems during the third quarter worth about $189,000. Finally, Riverhead Capital Management LLC grew its position in Merit Medical Systems by 67.7% during the second quarter. Riverhead Capital Management LLC now owns 5,198 shares of the medical instruments supplier’s stock worth $198,000 after buying an additional 2,098 shares in the last quarter. 89.52% of the stock is currently owned by institutional investors and hedge funds.

About Merit Medical Systems

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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