Canaccord Genuity reaffirmed their buy rating on shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in a research note released on Sunday morning. The brokerage currently has a $45.00 price target on the medical instruments supplier’s stock.

A number of other equities research analysts have also recently weighed in on the company. Citigroup Inc. cut Merit Medical Systems from a strong-buy rating to an outperform rating and set a $44.00 price target for the company. in a report on Monday, August 28th. They noted that the move was a valuation call. Raymond James Financial, Inc. reaffirmed an outperform rating and set a $44.00 price target on shares of Merit Medical Systems in a report on Monday, August 28th. UBS AG cut Merit Medical Systems from a strong-buy rating to an outperform rating in a report on Monday, August 28th. BidaskClub raised Merit Medical Systems from a buy rating to a strong-buy rating in a report on Tuesday, June 27th. Finally, Sidoti reaffirmed a buy rating and set a $46.00 price target (up from $41.00) on shares of Merit Medical Systems in a report on Wednesday, June 28th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Merit Medical Systems has a consensus rating of Buy and an average target price of $41.27.

Merit Medical Systems (NASDAQ:MMSI) opened at 43.55 on Friday. The company has a market cap of $2.18 billion, a PE ratio of 62.04 and a beta of 1.25. Merit Medical Systems has a 1-year low of $20.70 and a 1-year high of $45.50. The stock has a 50 day moving average price of $41.95 and a 200 day moving average price of $37.01.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.07. Merit Medical Systems had a return on equity of 9.78% and a net margin of 4.87%. The firm had revenue of $186.50 million during the quarter, compared to analysts’ expectations of $181.46 million. During the same period last year, the firm posted $0.26 EPS. The business’s revenue was up 23.4% on a year-over-year basis. Equities analysts forecast that Merit Medical Systems will post $1.26 earnings per share for the current year.

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In other news, insider Richard W. Edelman sold 29,000 shares of Merit Medical Systems stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $41.19, for a total value of $1,194,510.00. Following the completion of the sale, the insider now directly owns 35,000 shares of the company’s stock, valued at approximately $1,441,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kent W. Stanger sold 670 shares of Merit Medical Systems stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $42.06, for a total value of $28,180.20. The disclosure for this sale can be found here. Insiders sold a total of 67,106 shares of company stock valued at $2,772,344 over the last three months. Insiders own 5.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Merit Medical Systems by 7,837.9% in the 1st quarter. BlackRock Inc. now owns 6,789,527 shares of the medical instruments supplier’s stock valued at $196,218,000 after buying an additional 6,703,994 shares during the period. Vanguard Group Inc. increased its stake in shares of Merit Medical Systems by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 4,374,628 shares of the medical instruments supplier’s stock valued at $166,893,000 after buying an additional 187,745 shares during the period. Frontier Capital Management Co. LLC increased its stake in shares of Merit Medical Systems by 24.8% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,737,303 shares of the medical instruments supplier’s stock valued at $104,428,000 after buying an additional 543,580 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Merit Medical Systems by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,694,722 shares of the medical instruments supplier’s stock valued at $102,803,000 after buying an additional 19,257 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Merit Medical Systems by 922.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,533,513 shares of the medical instruments supplier’s stock valued at $58,504,000 after buying an additional 1,383,513 shares during the period. 89.11% of the stock is owned by institutional investors.

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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