Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have received a consensus rating of “Buy” from the eleven research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $46.57.

Several research analysts have recently issued reports on MMSI shares. Oppenheimer upped their target price on shares of Merit Medical Systems from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. BidaskClub cut Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Raymond James reaffirmed a “buy” rating on shares of Merit Medical Systems in a research report on Monday. Piper Sandler boosted their target price on Merit Medical Systems from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Merit Medical Systems in a report on Thursday, July 30th.

Shares of MMSI traded down $0.39 during mid-day trading on Friday, reaching $43.14. The company had a trading volume of 11,439 shares, compared to its average volume of 518,185. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.29 and a current ratio of 2.56. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -80.61, a price-to-earnings-growth ratio of 2.86 and a beta of 1.05. The firm has a 50-day moving average price of $46.76 and a 200 day moving average price of $41.23. Merit Medical Systems has a 52 week low of $19.50 and a 52 week high of $50.38.

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 for the quarter, beating the consensus estimate of $0.07 by $0.24. The firm had revenue of $218.37 million during 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%. The company’s revenue was down 14.5% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. As a group, research analysts forecast that Merit Medical Systems will post 1.28 earnings per share for the current fiscal year.

In other Merit Medical Systems news, Director David Floyd purchased 1,159 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were acquired at an average cost of $43.11 per share, for a total transaction of $49,964.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. bought a new stake in Merit Medical Systems during the 1st quarter worth approximately $60,000. Mutual of America Capital Management LLC raised its holdings 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 valued at $74,000 after acquiring an additional 412 shares during the period. Strs Ohio lifted its position in shares of Merit Medical Systems by 66.7% in the second quarter. Strs Ohio now owns 3,500 shares of the medical instruments supplier’s stock valued at $159,000 after acquiring an additional 1,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Merit Medical Systems by 35.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,322 shares of the medical instruments supplier’s stock valued at $135,000 after acquiring an additional 1,121 shares in the last quarter. Finally, Cim Investment Mangement Inc. bought a new position in shares of Merit Medical Systems in the second quarter worth about $225,000.

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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