Merit Medical Systems’ (MMSI) “Buy” Rating Reaffirmed at Canaccord Genuity

Merit Medical Systems, Inc. (NASDAQ:MMSI)‘s stock had its “buy” rating reaffirmed by Canaccord Genuity in a research note issued on Sunday. They currently have a $45.00 price target on the medical instruments supplier’s stock. Canaccord Genuity’s price target suggests a potential downside of 0.77% from the company’s previous close.

Other research analysts also recently issued research reports about the company. 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 price objective for the company. Piper Jaffray Companies reiterated a “buy” rating and set a $45.00 price target on shares of Merit Medical Systems in a research note on Friday, July 28th. Craig Hallum reiterated a “buy” rating and set a $50.00 price target (up previously from $42.00) on shares of Merit Medical Systems in a research note on Thursday, July 27th. Bank of America Corporation assumed coverage on Merit Medical Systems in a research note on Thursday, July 20th. They set a “buy” rating and a $44.00 price target for the company. Finally, Sidoti reiterated a “buy” rating and set a $46.00 price target (up previously from $41.00) on shares of Merit Medical Systems in a research note on Wednesday, June 28th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $41.27.

Merit Medical Systems (NASDAQ:MMSI) traded down 1.32% during trading on Friday, reaching $44.75. 268,089 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $41.69 and its 200-day moving average price is $36.63. Merit Medical Systems has a 12 month low of $20.70 and a 12 month high of $45.50. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 63.75 and a beta of 1.25.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $186.50 million during the quarter, compared to the consensus estimate of $181.46 million. Merit Medical Systems had a return on equity of 9.78% and a net margin of 4.87%. The business’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. On average, equities research analysts anticipate that Merit Medical Systems will post $1.26 EPS for the current year.

WARNING: This report was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://ledgergazette.com/2017/10/09/merit-medical-systems-mmsi-buy-rating-reaffirmed-at-canaccord-genuity.html.

In other news, Director Kent W. Stanger sold 670 shares of the stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director F. Ann Millner sold 3,106 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $41.01, for a total value of $127,377.06. Following the completion of the transaction, the director now owns 6,750 shares of the company’s stock, valued at approximately $276,817.50. The disclosure for this sale can be found here. Insiders have sold a total of 67,106 shares of company stock valued at $2,772,344 in the last quarter. 5.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. bought a new position in Merit Medical Systems in the 1st quarter worth about $102,000. LS Investment Advisors LLC boosted its stake in Merit Medical Systems by 8.1% in the 2nd quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock worth $141,000 after purchasing an additional 277 shares during the period. Advisors Asset Management Inc. boosted its stake in Merit Medical Systems by 28.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock worth $142,000 after purchasing an additional 820 shares during the period. SG Americas Securities LLC bought a new position in Merit Medical Systems in the 1st quarter worth about $134,000. Finally, Riverhead Capital Management LLC boosted its stake in Merit Medical Systems by 67.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,198 shares of the medical instruments supplier’s stock worth $198,000 after pu

Other research analysts also recently issued research reports about the company. 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 price objective for the company. Piper Jaffray Companies reiterated a “buy” rating and set a $45.00 price target on shares of Merit Medical Systems in a research note on Friday, July 28th. Craig Hallum reiterated a “buy” rating and set a $50.00 price target (up previously from $42.00) on shares of Merit Medical Systems in a research note on Thursday, July 27th. Bank of America Corporation assumed coverage on Merit Medical Systems in a research note on Thursday, July 20th. They set a “buy” rating and a $44.00 price target for the company. Finally, Sidoti reiterated a “buy” rating and set a $46.00 price target (up previously from $41.00) on shares of Merit Medical Systems in a research note on Wednesday, June 28th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $41.27.

Merit Medical Systems (NASDAQ:MMSI) traded down 1.32% during trading on Friday, reaching $44.75. 268,089 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $41.69 and its 200-day moving average price is $36.63. Merit Medical Systems has a 12 month low of $20.70 and a 12 month high of $45.50. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 63.75 and a beta of 1.25.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $186.50 million during the quarter, compared to the consensus estimate of $181.46 million. Merit Medical Systems had a return on equity of 9.78% and a net margin of 4.87%. The business’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. On average, equities research analysts anticipate that Merit Medical Systems will post $1.26 EPS for the current year.

WARNING: This report was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://ledgergazette.com/2017/10/09/merit-medical-systems-mmsi-buy-rating-reaffirmed-at-canaccord-genuity.html.

In other news, Director Kent W. Stanger sold 670 shares of the stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director F. Ann Millner sold 3,106 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $41.01, for a total value of $127,377.06. Following the completion of the transaction, the director now owns 6,750 shares of the company’s stock, valued at approximately $276,817.50. The disclosure for this sale can be found here. Insiders have sold a total of 67,106 shares of company stock valued at $2,772,344 in the last quarter. 5.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. bought a new position in Merit Medical Systems in the 1st quarter worth about $102,000. LS Investment Advisors LLC boosted its stake in Merit Medical Systems by 8.1% in the 2nd quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock worth $141,000 after purchasing an additional 277 shares during the period. Advisors Asset Management Inc. boosted its stake in Merit Medical Systems by 28.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock worth $142,000 after purchasing an additional 820 shares during the period. SG Americas Securities LLC bought a new position in Merit Medical Systems in the 1st quarter worth about $134,000. Finally, Riverhead Capital Management LLC boosted its stake in Merit Medical Systems by 67.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,198 shares of the medical instruments supplier’s stock worth $198,000 after purchasing an additional 2,098 shares during the period. Institutional investors and hedge funds own 89.11% of the company’s stock.

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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