Merit Medical Systems Inc. (NASDAQ:MMSI)’s share price was down 1.3% during mid-day trading on Monday . The stock traded as low as $20.58 and last traded at $20.62, with a volume of 185,100 shares traded. The stock had previously closed at $20.89.

Separately, Zacks Investment Research upgraded Merit Medical Systems from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Saturday.

The company has a 50 day moving average of $19.39 and a 200 day moving average of $18.42. The stock has a market cap of $916.31 million and a price-to-earnings ratio of 40.55.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.19 by $0.00. During the same period in the previous year, the business posted $0.18 EPS. The company had revenue of $138.10 million for the quarter, compared to the consensus estimate of $137.96 million. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities research analysts expect that Merit Medical Systems Inc. will post $0.97 earnings per share for the current fiscal year.

Other institutional investors have modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of Merit Medical Systems by 35.1% in the fourth quarter. Victory Capital Management Inc. now owns 62,924 shares of the company’s stock worth $1,170,000 after buying an additional 16,357 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Merit Medical Systems by 194.9% in the fourth quarter. Wells Fargo & Company MN now owns 116,867 shares of the company’s stock worth $2,172,000 after buying an additional 77,236 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Merit Medical Systems by 234.5% in the fourth quarter. Bank of Montreal Can now owns 100,002 shares of the company’s stock worth $1,859,000 after buying an additional 70,102 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Merit Medical Systems by 52.3% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 288,238 shares of the company’s stock worth $5,359,000 after buying an additional 98,938 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of Merit Medical Systems by 19.8% in the fourth quarter. GSA Capital Partners LLP now owns 84,566 shares of the company’s stock worth $1,572,000 after buying an additional 13,966 shares in the last quarter.

Merit Medical Systems, Inc (Merit) is a designer, developer, manufacturer and marketer of medical devices used in an array of interventional and diagnostic procedures across the world. The Company operates in the diagnostic and interventional cardiology, interventional radiology, interventional gastroenterology, interventional pulmonology, thoracic surgery, interventional nephrology, vascular surgery, oncology, electrophysiology, cardiac rhythm management and pain management markets.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.