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

A number of other equities research analysts have also recently commented on MMSI. SunTrust Banks, Inc. started coverage on Merit Medical Systems in a research note on Tuesday, June 20th. They issued a buy rating and a $43.00 target price on the stock. Piper Jaffray Companies reissued an overweight rating and issued a $39.00 target price on shares of Merit Medical Systems in a research note on Monday, June 26th. BidaskClub raised Merit Medical Systems from a buy rating to a strong-buy rating in a research note on Tuesday, June 27th. Sidoti reissued a buy rating and issued a $46.00 target price (up from $41.00) on shares of Merit Medical Systems in a research note on Wednesday, June 28th. Finally, Bank of America Corporation started coverage on Merit Medical Systems in a research note on Thursday, July 20th. They issued a buy rating and a $44.00 target price on the stock. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $41.27.

Shares of Merit Medical Systems (NASDAQ:MMSI) traded down 1.87% during trading on Friday, reaching $44.50. The company’s stock had a trading volume of 271,585 shares. The stock’s 50 day moving average is $41.69 and its 200 day moving average is $36.63. Merit Medical Systems has a one year low of $20.70 and a one year high of $45.50. The firm has a market cap of $2.23 billion, a P/E ratio of 63.39 and a beta of 1.25.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $181.46 million. During the same period in the prior year, the firm posted $0.26 earnings per share. The company’s quarterly revenue was up 23.4% on a year-over-year basis. On average, equities analysts forecast that Merit Medical Systems will post $1.26 EPS for the current fiscal year.

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

Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new position in shares of Merit Medical Systems during the first quarter valued at $102,000. LS Investment Advisors LLC lifted its holdings in shares of Merit Medical Systems by 8.1% during the second quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock valued at $141,000 after purchasing an additional 277 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Merit Medical Systems by 28.2% during the second quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock valued at $142,000 after purchasing an additional 820 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Merit Medical Systems during the first quarter valued at $134,000. Finally, Riverhead Capital Management LLC lifted its holdings in shares of Merit Medical Systems by 67.7% during the second quarter. Riverhead Capital Management LLC now owns 5,198 shares of the medical instruments supplier’s stock valued at $198,000 after purchasing an additional 2,098 shares in the last quarter. 89.11% of the stock is currently owned by hedge funds and other 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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