Piper Jaffray Companies reissued their buy rating on shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in a report issued on Friday morning. The brokerage currently has a $45.00 price target on the medical instruments supplier’s stock.

Several other brokerages have also recently commented on MMSI. Bank of America Corp assumed coverage on shares of Merit Medical Systems in a report on Thursday, July 20th. They issued a buy rating and a $44.00 target price for the company. Craig Hallum reiterated a buy rating and issued a $50.00 target price (up from $42.00) on shares of Merit Medical Systems in a report on Thursday, July 27th. BidaskClub upgraded shares of Merit Medical Systems from a buy rating to a strong-buy rating in a report on Tuesday, June 27th. Sidoti reiterated a buy rating and issued a $46.00 target price (up from $41.00) on shares of Merit Medical Systems in a report on Wednesday, June 28th. Finally, Zacks Investment Research upgraded 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 report on Thursday, June 22nd. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $39.74.

Shares of Merit Medical Systems (NASDAQ:MMSI) opened at 41.35 on Friday. The stock has a market cap of $2.07 billion, a P/E ratio of 58.90 and a beta of 1.24. The firm has a 50 day moving average of $37.63 and a 200 day moving average of $32.14. Merit Medical Systems has a one year low of $20.70 and a one year high of $42.25.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 EPS for the quarter, topping the 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 company had revenue of $186.50 million during the quarter, compared to analysts’ expectations of $181.46 million. During the same period last year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was up 23.4% on a year-over-year basis. On average, equities research analysts predict that Merit Medical Systems will post $1.24 EPS for the current fiscal year.

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In other news, insider Richard W. Edelman sold 20,000 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $37.62, for a total value of $752,400.00. Following the completion of the sale, the insider now directly owns 35,000 shares of the company’s stock, valued at $1,316,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard W. Edelman sold 16,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $34.46, for a total transaction of $551,360.00. Following the completion of the sale, the director now directly owns 17,621 shares of the company’s stock, valued at $607,219.66. The disclosure for this sale can be found here. Insiders sold 82,944 shares of company stock valued at $2,944,127 over the last three months. 5.60% of the stock is owned by insiders.

Several hedge funds 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 period. 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 period. 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 period. 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 period. 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 period. 92.13% of the stock is owned by institutional investors and hedge funds.

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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