Merit Medical Systems Inc. (NASDAQ:MMSI) saw strong trading volume on Monday . 404,496 shares changed hands during trading, an increase of 31% from the previous session’s volume of 308,822 shares.The stock last traded at $21.68 and had previously closed at $21.89.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Saturday, July 9th. Canaccord Genuity assumed coverage on shares of Merit Medical Systems in a report on Tuesday, July 19th. They set a “buy” rating and a $27.00 price objective on the stock. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $22.80.

The company’s 50 day moving average is $19.96 and its 200-day moving average is $18.63. The firm has a market cap of $961.95 million and a P/E ratio of 42.57.

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

A number of institutional investors have modified their holdings of the stock. Victory Capital Management Inc. raised 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 valued at $1,170,000 after buying an additional 16,357 shares during the last quarter. Bank of Montreal Can raised 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. Cornerstone Capital Management Holdings LLC. raised 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 valued at $5,359,000 after buying an additional 98,938 shares during the last quarter. GSA Capital Partners LLP raised 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, Rhumbline Advisers raised 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.

Merit Medical Systems, Inc is a designer, developer, manufacturer and marketer of medical devices used in an array of interventional and diagnostic procedures. The Company operates in two segments: cardiovascular and endoscopy. Its 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; embolotherapeutic products, and cardiac rhythm management and electrophysiology (CRM/EP) devices.

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