Merit Medical Systems, Inc. (NASDAQ:MMSI) was up 9.8% during trading on Thursday . The stock traded as high as $41.40 and last traded at $40.85. Approximately 532,671 shares were traded during mid-day trading, an increase of 37% from the average daily volume of 389,225 shares. The stock had previously closed at $37.20.

Several equities research analysts have recently commented on MMSI shares. Zacks Investment Research upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Saturday, October 28th. Citigroup Inc. downgraded shares of Merit Medical Systems from a “strong-buy” rating to an “outperform” rating and set a $44.00 target price on the stock. in a research note on Monday, August 28th. They noted that the move was a valuation call. Canaccord Genuity upped their price target on shares of Merit Medical Systems from $45.00 to $47.50 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Raymond James Financial, Inc. reiterated an “outperform” rating and set a $44.00 price target on shares of Merit Medical Systems in a research report 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 report on Monday, August 28th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $42.02.

The company has a current ratio of 2.78, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $2,040.00, a P/E ratio of 29.29, a P/E/G ratio of 2.52 and a beta of 1.20.

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

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Merit Medical Systems by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 4,374,628 shares of the medical instruments supplier’s stock worth $166,893,000 after purchasing an additional 187,745 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in shares of Merit Medical Systems by 24.8% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,737,303 shares of the medical instruments supplier’s stock worth $104,428,000 after acquiring an additional 543,580 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Merit Medical Systems by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,694,722 shares of the medical instruments supplier’s stock worth $102,803,000 after acquiring an additional 19,257 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Merit Medical Systems by 922.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,533,513 shares of the medical instruments supplier’s stock worth $58,504,000 after acquiring an additional 1,383,513 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Merit Medical Systems by 9.9% during the 2nd quarter. State Street Corp now owns 1,339,547 shares of the medical instruments supplier’s stock worth $51,105,000 after acquiring an additional 120,759 shares in the last quarter. 89.52% of the stock is owned by institutional investors and hedge funds.

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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.

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