Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been assigned an average rating of “Buy” from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $39.74.

MMSI has been the topic of several recent analyst reports. Craig Hallum initiated coverage on shares of Merit Medical Systems in a report on Monday, April 17th. They set a “buy” rating and a $36.00 price objective on the stock. Zacks Investment Research downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Canaccord Genuity restated a “buy” rating and set a $37.00 price objective on shares of Merit Medical Systems in a report on Friday, April 28th. Sidoti restated a “buy” rating and set a $41.00 price objective (up previously from $35.00) on shares of Merit Medical Systems in a report on Saturday, April 29th. Finally, SunTrust Banks, Inc. began coverage on Merit Medical Systems in a research report on Tuesday, June 20th. They issued a “buy” rating and a $43.00 target price on the stock.

Shares of Merit Medical Systems (MMSI) traded down 0.13% during mid-day trading on Friday, hitting $39.75. 295,424 shares of the stock were exchanged. Merit Medical Systems has a 12 month low of $20.70 and a 12 month high of $42.60. The stock’s 50 day moving average is $39.04 and its 200-day moving average is $32.99. The stock has a market cap of $1.99 billion, a PE ratio of 56.62 and a beta of 1.26.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.07. Merit Medical Systems had a net margin of 4.87% and a return on equity of 9.78%. The firm had revenue of $186.50 million for the quarter, compared to the consensus estimate of $181.46 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. On average, analysts anticipate that Merit Medical Systems will post $1.26 EPS for the current year.

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In other Merit Medical Systems news, Director Michael E. Stillabower sold 17,110 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $33.71, for a total value of $576,778.10. Following the sale, the director now owns 52,778 shares in the company, valued at approximately $1,779,146.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 value of $1,194,510.00. Following the completion of the sale, the insider now owns 35,000 shares in the company, valued at approximately $1,441,650. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,450 shares of company stock worth $5,607,192. Insiders own 5.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new position in shares of Merit Medical Systems during the first quarter worth about $102,000. LS Investment Advisors LLC raised its position 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 during the period. Advisors Asset Management Inc. raised its position 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 during the period. SG Americas Securities LLC acquired a new position in shares of Merit Medical Systems during the first quarter worth about $134,000. Finally, Riverhead Capital Management LLC raised its position in shares of Merit Medical Systems by 67.7% in 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 during the period. Institutional investors and hedge funds own 92.11% 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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