Research analysts at Bank of America Corporation began coverage on shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $44.00 price target on the medical instruments supplier’s stock. Bank of America Corporation’s target price points to a potential upside of 11.68% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Sidoti reaffirmed a “buy” rating and set a $46.00 price objective (up from $41.00) on shares of Merit Medical Systems in a report on Wednesday, June 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $20.00 price objective on shares of Merit Medical Systems in a report on Thursday, April 6th. Wells Fargo & Company assumed coverage on Merit Medical Systems in a report on Wednesday, April 5th. They set an “outperform” rating and a $31.70 price objective on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $33.50 price objective (down from $35.00) on shares of Merit Medical Systems in a report on Monday, March 27th. Finally, Craig Hallum started coverage on Merit Medical Systems in a report on Monday, April 17th. They set a “buy” rating and a $36.00 price objective on the stock. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $37.52.

Shares of Merit Medical Systems (MMSI) traded up 2.07% during mid-day trading on Thursday, hitting $39.40. The stock had a trading volume of 688,064 shares. Merit Medical Systems has a one year low of $20.70 and a one year high of $40.00. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 58.54 and a beta of 1.25. The firm has a 50 day moving average of $36.84 and a 200 day moving average of $31.35.

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

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In other news, Director F. Ann Millner sold 6,744 shares of Merit Medical Systems stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $38.15, for a total value of $257,283.60. Following the completion of the transaction, the director now owns 4,247 shares in the company, valued at $162,023.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard W. Edelman sold 16,000 shares of Merit Medical Systems stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $34.46, for a total transaction of $551,360.00. Following the completion of the transaction, the director now owns 17,621 shares of the company’s stock, valued at approximately $607,219.66. The disclosure for this sale can be found here. Insiders sold 82,944 shares of company stock valued at $2,944,127 in the last quarter. 5.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of MMSI. BlackRock Inc. raised its stake 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 worth $196,218,000 after buying an additional 6,703,994 shares in the last quarter. Vanguard Group Inc. increased its stake in 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 during the last quarter. Frontier Capital Management Co. LLC increased its stake in 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 during the last quarter. Ameriprise Financial Inc. increased its stake in 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 during the last quarter. Finally, State Street Corp increased its stake in Merit Medical Systems by 1.7% in the first quarter. State Street Corp now owns 1,218,788 shares of the medical instruments supplier’s stock valued at $35,223,000 after buying an additional 20,885 shares during the last quarter. Institutional investors own 90.60% 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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