Merit Medical Systems, Inc. (NASDAQ:MMSI) had its price objective increased by Canaccord Genuity from $45.00 to $47.50 in a research report sent to investors on Thursday. Canaccord Genuity currently has a buy rating on the medical instruments supplier’s stock.

Other research analysts have also recently issued reports about the stock. Sidoti restated 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. Craig Hallum restated a buy rating and set a $50.00 price target (up from $42.00) on shares of Merit Medical Systems in a report on Thursday, July 27th. Bank of America Corporation assumed coverage on shares of Merit Medical Systems in a report on Thursday, July 20th. They set a buy rating and a $44.00 price target on the stock. Piper Jaffray Companies restated a buy rating and set a $45.00 price target on shares of Merit Medical Systems in a report on Friday, July 28th. Finally, Raymond James Financial, Inc. restated an outperform rating and set a $44.00 price target on shares of Merit Medical Systems in a report on Monday, August 28th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $41.65.

Shares of Merit Medical Systems (MMSI) traded up 1.49% during midday trading on Thursday, reaching $37.55. 572,508 shares of the company traded hands. The firm has a market capitalization of $1.88 billion, a PE ratio of 53.49 and a beta of 1.25. The company has a 50-day moving average of $42.12 and a 200 day moving average of $38.05. Merit Medical Systems has a 12-month low of $20.70 and a 12-month high of $45.50.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. Merit Medical Systems had a net margin of 4.06% and a return on equity of 9.86%. The business had revenue of $179.30 million for the quarter, compared to analysts’ expectations of $181.28 million. During the same period in the previous year, the company earned $0.26 earnings per share. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities analysts forecast that Merit Medical Systems will post $1.27 earnings per share for the current year.

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In other Merit Medical Systems news, Director Kent W. Stanger sold 7,400 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $42.22, for a total value of $312,428.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Richard W. Edelman sold 29,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $41.19, for a total transaction of $1,194,510.00. Following the completion of the transaction, the insider now owns 35,000 shares in the company, valued at $1,441,650. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,106 shares of company stock worth $2,772,344. Corporate insiders own 5.00% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan boosted its stake in Merit Medical Systems by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 13,170 shares of the medical instruments supplier’s stock valued at $380,000 after acquiring an additional 210 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Merit Medical Systems by 8.1% in the second quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock valued at $141,000 after acquiring an additional 277 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Merit Medical Systems by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 20,300 shares of the medical instruments supplier’s stock valued at $774,000 after acquiring an additional 300 shares during the last quarter. Aperio Group LLC boosted its stake in Merit Medical Systems by 3.9% in the second quarter. Aperio Group LLC now owns 10,467 shares of the medical instruments supplier’s stock valued at $399,000 after acquiring an additional 391 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its stake in Merit Medical Systems by 5.6% in the second quarter. Suntrust Banks Inc. now owns 7,847 shares of the medical instruments supplier’s stock valued at $299,000 after acquiring an additional 414 shares during the last quarter. Hedge funds and other institutional investors own 90.40% of the company’s stock.

About Merit Medical Systems

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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