Merit Medical Systems, Inc. (NASDAQ:MMSI) has been assigned a $47.00 price objective by research analysts at SunTrust Banks, Inc. in a research report issued on Thursday. The firm currently has a “buy” rating on the medical instruments supplier’s stock. SunTrust Banks, Inc.’s target price would suggest a potential upside of 15.76% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Craig Hallum reaffirmed a “buy” rating and set a $50.00 price objective (up from $42.00) on shares of Merit Medical Systems in a research note on Thursday, July 27th. Bank of America Corporation began coverage on shares of Merit Medical Systems in a research note on Thursday, July 20th. They set a “buy” rating and a $44.00 price objective for the company. Piper Jaffray Companies reaffirmed a “buy” rating and set a $45.00 price objective on shares of Merit Medical Systems in a research note on Friday, July 28th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $44.00 price objective on shares of Merit Medical Systems in a research note on Monday, August 28th. Finally, UBS AG downgraded shares of Merit Medical Systems from a “strong-buy” rating to an “outperform” rating in a research note on Monday, August 28th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $42.02.

Merit Medical Systems (NASDAQ MMSI) opened at $40.60 on Thursday. The company has a market cap of $2,040.00, a PE ratio of 29.29, a PEG ratio of 2.52 and a beta of 1.20. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.78. Merit Medical Systems has a one year low of $23.00 and a one year high of $45.50.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.32 EPS for the quarter, beating the consensus estimate of $0.30 by $0.02. The firm had revenue of $179.30 million during the quarter, compared to the consensus estimate of $181.28 million. Merit Medical Systems had a negative net margin of 1.99% and a negative return on equity of 2.15%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 earnings per share. sell-side analysts predict that Merit Medical Systems will post 1.27 EPS for the current year.

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In related news, Director Kent W. Stanger sold 670 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $42.06, for a total value of $28,180.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.00% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MMSI. Vanguard Group Inc. grew its holdings 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 worth $121,001,000 after purchasing an additional 580,871 shares during the period. Geode Capital Management LLC grew its holdings in Merit Medical Systems by 1.2% in the first quarter. Geode Capital Management LLC now owns 520,664 shares of the medical instruments supplier’s stock worth $15,047,000 after purchasing an additional 6,274 shares during the period. Bank of America Corp DE grew its holdings in Merit Medical Systems by 87.5% in the first quarter. Bank of America Corp DE now owns 230,082 shares of the medical instruments supplier’s stock worth $6,649,000 after purchasing an additional 107,355 shares during the period. State Street Corp grew its holdings 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 worth $35,223,000 after purchasing an additional 20,885 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Merit Medical Systems by 17.3% in the first quarter. Goldman Sachs Group Inc. now owns 131,728 shares of the medical instruments supplier’s stock worth $3,807,000 after purchasing an additional 19,428 shares during the period. Institutional investors and hedge funds own 89.52% of the company’s stock.

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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