Merit Medical Systems (NASDAQ:MMSI) had its target price increased by Raymond James from $49.00 to $51.00 in a research report report published on Thursday morning, BenzingaRatingsTable reports. The firm currently has an outperform rating on the medical instruments supplier’s stock.

A number of other brokerages also recently issued reports on MMSI. ValuEngine downgraded Merit Medical Systems from a buy rating to a hold rating in a research report on Thursday, April 2nd. Sidoti raised their target price on Merit Medical Systems from $55.00 to $63.00 and gave the company a buy rating in a research report on Monday, June 1st. Barrington Research raised their target price on Merit Medical Systems from $49.00 to $54.00 and gave the company an outperform rating in a research report on Thursday. Oppenheimer restated a buy rating and issued a $46.00 target price on shares of Merit Medical Systems in a research report on Friday, April 24th. Finally, Piper Sandler raised their target price on Merit Medical Systems from $50.00 to $55.00 and gave the company an overweight rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Merit Medical Systems presently has an average rating of Buy and a consensus target price of $46.00.

MMSI stock traded down $1.82 during mid-day trading on Thursday, reaching $44.72. 465,374 shares of the company’s stock were exchanged, compared to its average volume of 363,916. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -82.81, a price-to-earnings-growth ratio of 3.62 and a beta of 1.13. The stock’s 50 day moving average is $43.70 and its 200 day moving average is $39.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.56 and a quick ratio of 1.42. Merit Medical Systems has a 12-month low of $19.50 and a 12-month high of $47.99.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Wednesday, July 29th. The medical instruments supplier reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.24. The company had revenue of $218.37 million for the quarter, compared to the consensus estimate of $192.67 million. Merit Medical Systems had a positive return on equity of 8.10% and a negative net margin of 3.10%. Merit Medical Systems’s revenue for the quarter was down 14.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 earnings per share. On average, research analysts forecast that Merit Medical Systems will post 1.12 earnings per share for the current fiscal year.

In related news, Director Nolan E. Karras sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $44.12, for a total value of $220,600.00. Following the completion of the sale, the director now owns 15,500 shares of the company’s stock, valued at $683,860. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David Ming-Teh Liu sold 13,800 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $45.00, for a total value of $621,000.00. Following the completion of the sale, the director now directly owns 6,300 shares of the company’s stock, valued at approximately $283,500. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,800 shares of company stock valued at $1,061,600. Insiders own 4.70% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its stake in Merit Medical Systems by 1,878.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,088 shares of the medical instruments supplier’s stock worth $33,000 after acquiring an additional 1,033 shares during the last quarter. Versant Capital Management Inc increased its stake in Merit Medical Systems by 5,416.0% during the first quarter. Versant Capital Management Inc now owns 1,379 shares of the medical instruments supplier’s stock worth $43,000 after acquiring an additional 1,354 shares during the last quarter. Advisor Group Holdings Inc. acquired a new stake in Merit Medical Systems during the first quarter worth $60,000. Strs Ohio acquired a new stake in Merit Medical Systems during the first quarter worth $65,000. Finally, Mutual of America Capital Management LLC increased its stake in Merit Medical Systems by 21.0% during the first quarter. Mutual of America Capital Management LLC now owns 2,373 shares of the medical instruments supplier’s stock worth $74,000 after acquiring an additional 412 shares during the last quarter. 97.49% of the stock is owned by hedge funds and other institutional investors.

About Merit Medical Systems

Merit Medical Systems, Inc manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.

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Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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