Merit Medical Systems, Inc. (MMSI) Research Coverage Started at SunTrust Banks, Inc.

Equities research analysts at SunTrust Banks, Inc. initiated coverage on shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in a research report issued on Tuesday, The Fly reports. The brokerage set a “buy” rating on the medical instruments supplier’s stock.

Several other research firms have also recently weighed in on MMSI. Sidoti reissued a “buy” rating and issued a $41.00 price target (up previously from $35.00) on shares of Merit Medical Systems in a research note on Saturday, April 29th. Canaccord Genuity reissued a “buy” rating and issued a $37.00 price target on shares of Merit Medical Systems in a research note on Friday, April 28th. Zacks Investment Research cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Piper Jaffray Companies reissued an “overweight” rating on shares of Merit Medical Systems in a research note on Wednesday, March 29th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $20.00 price target on shares of Merit Medical Systems in a research note on Thursday, April 6th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $33.28.

Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

Shares of Merit Medical Systems (NASDAQ:MMSI) opened at 36.10 on Tuesday. The firm has a 50-day moving average of $34.61 and a 200 day moving average of $29.60. The company has a market cap of $1.80 billion, a P/E ratio of 53.64 and a beta of 1.25. Merit Medical Systems has a 52 week low of $18.22 and a 52 week high of $37.00.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, April 27th. The medical instruments supplier reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05. Merit Medical Systems had a net margin of 4.80% and a return on equity of 9.36%. The business had revenue of $171.07 million during the quarter, compared to analysts’ expectations of $163.50 million. During the same quarter in the prior year, the company posted $0.19 EPS. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. Equities analysts expect that Merit Medical Systems will post $1.17 EPS for the current fiscal year.

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In related news, Director Richard W. Edelman sold 16,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $34.46, for a total transaction of $551,360.00. Following the completion of the transaction, the director now owns 17,621 shares of the company’s stock, valued at approximately $607,219.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Franklin J. Miller sold 16,090 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $33.95, for a total transaction of $546,255.50. Following the transaction, the director now directly owns 27,334 shares of the company’s stock, valued at approximately $927,989.30. The disclosure for this sale can be found here. In the last three months, insiders sold 49,200 shares of company stock valued at $1,674,394. Corporate insiders own 5.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Merit Medical Systems by 7,837.9% in the first quarter. BlackRock Inc. now owns 6,789,527 shares of the medical instruments supplier’s stock worth $196,218,000 after buying an additional 6,703,994 shares during the last quarter. Vanguard Group Inc. boosted its position 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 buying an additional 580,871 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Merit Medical Systems by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,695,522 shares of the medical instruments supplier’s stock worth $71,431,000 after buying an additional 80,045 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in Merit Medical Systems by 14.3% in the first quarter. Frontier Capital Management Co. LLC now owns 2,193,723 shares of the medical instruments supplier’s stock worth $63,399,000 after buying an additional 274,150 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Merit Medical Systems by 11.8% in the first quarter. Ameriprise Financial Inc. now owns 1,677,925 shares of the medical instruments supplier’s stock worth $48,491,000 after buying an additional 177,548 shares during the last quarter. 90.48% of the stock is owned by hedge funds and other institutional investors.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:MMSI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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