Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have received an average rating of “Buy” from the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $68.10.

Several equities analysts have commented on the company. Canaccord Genuity upped their price objective on Merit Medical Systems from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. Needham & Company LLC upped their price objective on Merit Medical Systems from $67.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Barrington Research upped their price objective on Merit Medical Systems to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, October 2nd. SunTrust Banks upped their price objective on Merit Medical Systems to $68.00 and gave the company a “buy” rating in a research report on Monday, August 27th. Finally, Zacks Investment Research downgraded Merit Medical Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th.

In other news, Director F. Ann Millner sold 9,593 shares of the stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $56.92, for a total transaction of $546,033.56. Following the transaction, the director now owns 7,891 shares of the company’s stock, valued at approximately $449,155.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Ronald Frost sold 5,257 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $61.31, for a total value of $322,306.67. Following the transaction, the chief operating officer now directly owns 5,257 shares in the company, valued at approximately $322,306.67. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Merit Medical Systems by 13.3% during the third quarter. BlackRock Inc. now owns 7,985,361 shares of the medical instruments supplier’s stock valued at $490,700,000 after purchasing an additional 939,589 shares in the last quarter. Eagle Asset Management Inc. boosted its position in Merit Medical Systems by 1.0% during the third quarter. Eagle Asset Management Inc. now owns 2,045,983 shares of the medical instruments supplier’s stock valued at $125,725,000 after purchasing an additional 19,863 shares in the last quarter. Partner Fund Management L.P. boosted its position in Merit Medical Systems by 69.9% during the second quarter. Partner Fund Management L.P. now owns 1,455,616 shares of the medical instruments supplier’s stock valued at $74,528,000 after purchasing an additional 598,822 shares in the last quarter. Macquarie Group Ltd. boosted its position in Merit Medical Systems by 5.6% during the second quarter. Macquarie Group Ltd. now owns 1,079,066 shares of the medical instruments supplier’s stock valued at $55,248,000 after purchasing an additional 57,510 shares in the last quarter. Finally, Carillon Tower Advisers Inc. boosted its position in Merit Medical Systems by 22.2% during the second quarter. Carillon Tower Advisers Inc. now owns 1,068,907 shares of the medical instruments supplier’s stock valued at $54,728,000 after purchasing an additional 194,196 shares in the last quarter. 87.09% of the stock is currently owned by institutional investors.

Merit Medical Systems stock traded down $2.08 during mid-day trading on Tuesday, hitting $59.16. The company’s stock had a trading volume of 310,212 shares, compared to its average volume of 470,067. The company has a market capitalization of $3.35 billion, a PE ratio of 46.22, a price-to-earnings-growth ratio of 2.83 and a beta of 1.19. The company has a quick ratio of 1.47, a current ratio of 2.77 and a debt-to-equity ratio of 0.20. Merit Medical Systems has a one year low of $36.21 and a one year high of $66.34.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Thursday, October 25th. The medical instruments supplier reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.05. The company had revenue of $221.66 million for the quarter, compared to the consensus estimate of $217.62 million. Merit Medical Systems had a return on equity of 10.86% and a net margin of 4.72%. As a group, research analysts anticipate that Merit Medical Systems will post 1.66 earnings per share for the current year.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets various disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.

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Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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