Merit Medical Systems, Inc. (NASDAQ:MMSI)‘s stock had its “overweight” rating reiterated by equities research analysts at Piper Jaffray Companies in a report released on Monday. They presently have a $39.00 target price on the medical instruments supplier’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 4.28% from the stock’s previous close.

Several other brokerages also recently commented on MMSI. Zacks Investment Research upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Thursday. SunTrust Banks, Inc. began coverage on shares of Merit Medical Systems in a report on Tuesday, June 20th. They set a “buy” rating and a $43.00 target price on the stock. Sidoti restated a “buy” rating and set a $41.00 target price (up from $35.00) on shares of Merit Medical Systems in a report on Saturday, April 29th. Canaccord Genuity restated a “buy” rating and set a $37.00 target price on shares of Merit Medical Systems in a report on Friday, April 28th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $20.00 target price on shares of Merit Medical Systems in a report on Thursday, April 6th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Merit Medical Systems has an average rating of “Buy” and a consensus price target of $36.09.

Merit Medical Systems (NASDAQ:MMSI) traded down 1.06% during mid-day trading on Monday, hitting $37.40. 236,462 shares of the stock traded hands. The firm has a market cap of $1.87 billion, a PE ratio of 55.57 and a beta of 1.25. Merit Medical Systems has a 12-month low of $18.22 and a 12-month high of $38.25. The stock has a 50 day moving average price of $34.70 and a 200 day moving average price of $29.69.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, April 27th. The medical instruments supplier reported $0.28 EPS for the quarter, topping the consensus estimate of $0.23 by $0.05. The firm had revenue of $171.07 million for the quarter, compared to the consensus estimate of $163.50 million. Merit Medical Systems had a net margin of 4.80% and a return on equity of 9.36%. The business’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period last year, the company posted $0.19 EPS. On average, analysts expect that Merit Medical Systems will post $1.17 earnings per share for the current fiscal year.

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In other news, Director Franklin J. Miller sold 16,090 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $33.95, for a total transaction of $546,255.50. Following the completion of the transaction, the director now directly owns 27,334 shares of the company’s stock, valued at approximately $927,989.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael E. Stillabower sold 17,110 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $33.71, for a total transaction of $576,778.10. Following the transaction, the director now directly owns 52,778 shares of the company’s stock, valued at $1,779,146.38. The disclosure for this sale can be found here. Insiders have sold a total of 49,200 shares of company stock worth $1,674,394 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.

Several institutional investors have recently modified their holdings of MMSI. BlackRock Inc. boosted its position in shares of Merit Medical Systems by 7,837.9% in the first 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 in the last quarter. Vanguard Group Inc. boosted its position in shares of Merit Medical Systems by 16.1% in the first quarter. Vanguard Group Inc. now owns 4,186,883 shares of the medical instruments supplier’s stock valued at $121,001,000 after buying an additional 580,871 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Merit Medical Systems by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,695,522 shares of the medical instruments supplier’s stock valued at $71,431,000 after buying an additional 80,045 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of Merit Medical Systems by 14.3% in the first quarter. Frontier Capital Management Co. LLC now owns 2,193,723 shares of the medical instruments supplier’s stock valued at $63,399,000 after buying an additional 274,150 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Merit Medical Systems by 11.8% in the first quarter. Ameriprise Financial Inc. now owns 1,677,925 shares of the medical instruments supplier’s stock valued at $48,491,000 after buying an additional 177,548 shares in the last quarter. 90.48% of the stock is owned by institutional investors.

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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