Merit Medical Systems Inc. (NASDAQ:MMSI) shares were up 2.8% during mid-day trading on Tuesday . The company traded as high as $21.85 and last traded at $21.08, with a volume of 213,708 shares. The stock had previously closed at $20.51.

Several research analysts recently issued reports on the stock. Canaccord Genuity assumed coverage on shares of Merit Medical Systems in a report on Tuesday. They set a “buy” rating and a $27.00 target price for the company. 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 analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $22.80.

The company’s 50 day moving average is $19.76 and its 200-day moving average is $18.53. The stock has a market cap of $951.31 million and a P/E ratio of 42.10.

Merit Medical Systems (NASDAQ:MMSI) last posted 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. The firm had revenue of $138.10 million for the quarter, compared to analyst estimates of $137.96 million. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 EPS. Equities research analysts expect that Merit Medical Systems Inc. will post $0.97 EPS for the current year.

Other hedge funds and institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in 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. Rhumbline Advisers boosted its position 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 last quarter. California State Teachers Retirement System boosted its position 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 last quarter. 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 valued at $1,572,000 after buying an additional 13,966 shares during the last quarter. Finally, 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 valued at $1,859,000 after buying an additional 70,102 shares during 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.

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