Shares of Merit Medical Systems Inc. (NASDAQ:MMSI) rose 2.8% on Tuesday . The stock traded as high as $21.85 and last traded at $21.08, with a volume of 213,708 shares traded. The stock had previously closed at $20.51.

MMSI has been the topic of several research analyst reports. Canaccord Genuity initiated coverage on shares of Merit Medical Systems in a research report on Tuesday. They set a “buy” rating and a $27.00 target price on the stock. Zacks Investment Research raised shares of Merit Medical Systems from a “sell” rating to a “hold” rating in a report on Friday, June 10th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Merit Medical Systems currently has an average rating of “Buy” and an average target price of $22.80.

The company’s 50 day moving average is $19.64 and its 200-day moving average is $18.49. The firm has a market cap of $936.01 million and a price-to-earnings ratio of 41.4208.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Thursday, April 28th. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.00. During the same period last year, the business earned $0.18 EPS. The firm earned $138.10 million during the quarter, compared to analyst estimates of $137.96 million. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, analysts predict that Merit Medical Systems Inc. will post $0.97 earnings per share for the current fiscal year.

Other hedge funds have recently modified their holdings of the company. California State Teachers Retirement System boosted its stake in shares of Merit Medical Systems by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 81,602 shares of the company’s stock valued at $1,517,000 after buying an additional 1,289 shares during the period. Nationwide Fund Advisors boosted its stake in shares of Merit Medical Systems by 2.7% in the fourth quarter. Nationwide Fund Advisors now owns 120,786 shares of the company’s stock valued at $2,245,000 after buying an additional 3,144 shares during the period. Rhumbline Advisers boosted its stake in shares of Merit Medical Systems by 5.1% in the fourth quarter. Rhumbline Advisers now owns 67,088 shares of the company’s stock valued at $1,247,000 after buying an additional 3,265 shares during the period. GSA Capital Partners LLP boosted its stake 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 valued at $1,572,000 after buying an additional 13,966 shares during the period. Finally, Victory Capital Management Inc. boosted its stake 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 valued at $1,170,000 after buying an additional 16,357 shares during the period.

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.

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