Citigroup Inc. lowered shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) from a strong-buy rating to an outperform rating in a research note released on Monday, The Fly reports. The brokerage currently has $44.00 target price on the medical instruments supplier’s stock. The analysts noted that the move was a valuation call.

Other research analysts have also issued reports about the stock. Piper Jaffray Companies reissued a buy rating and set a $45.00 target price on shares of Merit Medical Systems in a research note on Friday, July 28th. Craig Hallum reissued a buy rating and set a $50.00 target price (up from $42.00) on shares of Merit Medical Systems in a research note on Thursday, July 27th. Bank of America Corporation initiated coverage on shares of Merit Medical Systems in a research note on Thursday, July 20th. They set a buy rating and a $44.00 target price for the company. Sidoti reissued a buy rating and set a $46.00 target price (up from $41.00) on shares of Merit Medical Systems in a research note on Wednesday, June 28th. Finally, Zacks Investment Research raised shares of Merit Medical Systems from a hold rating to a buy rating and set a $41.00 target price for the company in a research note on Thursday, June 22nd. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $40.52.

Merit Medical Systems (NASDAQ:MMSI) opened at 41.30 on Monday. The stock has a market capitalization of $2.07 billion, a PE ratio of 58.83 and a beta of 1.26. Merit Medical Systems has a 12-month low of $20.70 and a 12-month high of $42.60. The company’s 50-day moving average is $40.17 and its 200 day moving average is $34.46.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $186.50 million during the quarter, compared to analyst estimates of $181.46 million. Merit Medical Systems had a net margin of 4.87% and a return on equity of 9.78%. Merit Medical Systems’s revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 EPS. On average, analysts predict that Merit Medical Systems will post $1.26 EPS for the current year.

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In other news, Director A Scott Anderson sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $41.15, for a total value of $1,028,750.00. Following the completion of the sale, the director now directly owns 10,400 shares of the company’s stock, valued at approximately $427,960. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Richard W. Edelman sold 29,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $41.19, for a total transaction of $1,194,510.00. Following the completion of the sale, the insider now directly owns 35,000 shares of the company’s stock, valued at $1,441,650. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,250 shares of company stock valued at $3,932,799. Company insiders own 5.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new stake in shares of Merit Medical Systems during the first quarter worth $102,000. SG Americas Securities LLC bought a new stake in shares of Merit Medical Systems during the first quarter worth $134,000. LS Investment Advisors LLC raised its stake in shares of Merit Medical Systems by 8.1% in 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. raised its stake in shares of Merit Medical Systems by 28.2% in 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. Finally, State of Alaska Department of Revenue raised its stake in shares of Merit Medical Systems by 13.1% in the first quarter. State of Alaska Department of Revenue now owns 5,430 shares of the medical instruments supplier’s stock worth $156,000 after buying an additional 630 shares in the last quarter. 89.11% of the stock is owned by institutional investors.

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.

The Fly

Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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