Craig Hallum reiterated their buy rating on shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in a research note released on Thursday, The Fly reports. Craig Hallum currently has a $50.00 price target on the medical instruments supplier’s stock, up from their prior price target of $42.00.

Several other research firms also recently weighed in on MMSI. Zacks Investment Research raised Merit Medical Systems from a hold rating to a buy rating and set a $41.00 target price for the company in a report on Thursday, June 22nd. Keefe, Bruyette & Woods reissued a hold rating and issued a $20.00 target price on shares of Merit Medical Systems in a report on Thursday, April 6th. Piper Jaffray Companies reissued an overweight rating on shares of Merit Medical Systems in a report on Wednesday, March 29th. SunTrust Banks, Inc. started coverage on Merit Medical Systems in a report on Tuesday, June 20th. They issued a buy rating and a $43.00 target price for the company. Finally, Sidoti reissued a buy rating and issued a $41.00 target price (up from $35.00) on shares of Merit Medical Systems in a report on Saturday, April 29th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $39.74.

Merit Medical Systems (NASDAQ:MMSI) traded down 0.12% during midday trading on Thursday, reaching $41.00. The company’s stock had a trading volume of 203,812 shares. The stock’s 50-day moving average price is $37.47 and its 200 day moving average price is $31.94. Merit Medical Systems has a 1-year low of $20.70 and a 1-year high of $42.25. The firm has a market capitalization of $2.05 billion, a PE ratio of 58.40 and a beta of 1.24.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.07. The company had revenue of $186.50 million during the quarter, compared to the consensus estimate of $181.46 million. Merit Medical Systems had a return on equity of 9.78% and a net margin of 4.87%. Merit Medical Systems’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 EPS. Equities analysts anticipate that Merit Medical Systems will post $1.24 EPS for the current fiscal year.

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In related news, Director Franklin J. Miller sold 16,090 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $33.95, for a total value of $546,255.50. Following the sale, the director now owns 27,334 shares of the company’s stock, valued at approximately $927,989.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director F. Ann Millner sold 6,744 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $38.15, for a total value of $257,283.60. Following the completion of the sale, the director now directly owns 4,247 shares in the company, valued at approximately $162,023.05. The disclosure for this sale can be found here. Insiders have sold a total of 82,944 shares of company stock worth $2,944,127 in the last quarter. 5.60% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of MMSI. Sei Investments Co. raised its stake in Merit Medical Systems by 11.2% in the second quarter. Sei Investments Co. now owns 184,614 shares of the medical instruments supplier’s stock worth $7,043,000 after buying an additional 18,568 shares during the last quarter. Texas Permanent School Fund raised its stake in Merit Medical Systems by 2.4% in the second quarter. Texas Permanent School Fund now owns 36,445 shares of the medical instruments supplier’s stock worth $1,390,000 after buying an additional 860 shares during the last quarter. Rothschild Asset Management Inc. raised its stake in Merit Medical Systems by 2.7% in the second quarter. Rothschild Asset Management Inc. now owns 843,022 shares of the medical instruments supplier’s stock worth $32,161,000 after buying an additional 21,768 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Merit Medical Systems by 6.3% in the second quarter. Great West Life Assurance Co. Can now owns 72,856 shares of the medical instruments supplier’s stock worth $2,775,000 after buying an additional 4,310 shares during the last quarter. Finally, Strs Ohio raised its stake in Merit Medical Systems by 1.7% in the second quarter. Strs Ohio now owns 29,300 shares of the medical instruments supplier’s stock worth $1,117,000 after buying an additional 500 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

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.

The Fly

Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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