Merit Medical Systems, Inc. (NASDAQ:MMSI)’s share price traded down 7.2% during trading on Wednesday . The company traded as low as $57.05 and last traded at $57.80. 695,434 shares traded hands during mid-day trading, an increase of 96% from the average session volume of 355,467 shares. The stock had previously closed at $62.30.

Several equities analysts have commented on MMSI shares. Zacks Investment Research upgraded Merit Medical Systems from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Thursday, January 3rd. BidaskClub downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $67.60.

The company has a debt-to-equity ratio of 0.40, a current ratio of 2.45 and a quick ratio of 1.32. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 34.12, a P/E/G ratio of 2.68 and a beta of 1.11.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Tuesday, February 26th. The medical instruments supplier reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. Merit Medical Systems had a return on equity of 11.26% and a net margin of 4.76%. The company had revenue of $232.25 million during the quarter, compared to analysts’ expectations of $231.03 million. During the same period in the prior year, the business earned $0.33 earnings per share. Merit Medical Systems’s revenue for the quarter was up 21.7% compared to the same quarter last year. On average, equities analysts anticipate that Merit Medical Systems, Inc. will post 2.01 EPS for the current fiscal year.

In related news, Director Kent W. Stanger sold 1,216 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $60.54, for a total value of $73,616.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Franklin J. Miller sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. Following the completion of the transaction, the director now directly owns 34,038 shares of the company’s stock, valued at $2,057,256.72. The disclosure for this sale can be found here. Insiders sold 41,216 shares of company stock valued at $2,465,617 over the last three months. 5.16% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue lifted its position in Merit Medical Systems by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 18,502 shares of the medical instruments supplier’s stock worth $1,143,000 after purchasing an additional 165 shares during the period. Neuburgh Advisers LLC lifted its position in Merit Medical Systems by 2.9% in the fourth quarter. Neuburgh Advisers LLC now owns 6,204 shares of the medical instruments supplier’s stock worth $346,000 after purchasing an additional 176 shares during the period. Flinton Capital Management LLC lifted its position in Merit Medical Systems by 2.9% in the fourth quarter. Flinton Capital Management LLC now owns 9,588 shares of the medical instruments supplier’s stock worth $535,000 after purchasing an additional 272 shares during the period. Comerica Bank lifted its position in Merit Medical Systems by 0.6% in the fourth quarter. Comerica Bank now owns 54,289 shares of the medical instruments supplier’s stock worth $2,897,000 after purchasing an additional 297 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Merit Medical Systems by 8.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,802 shares of the medical instruments supplier’s stock valued at $212,000 after acquiring an additional 303 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

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About Merit Medical Systems (NASDAQ:MMSI)

Merit Medical Systems, Inc manufactures and markets 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 peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.

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