Merit Medical Systems (NASDAQ:MMSI) PT Set at $47.00 by SunTrust Banks

SunTrust Banks set a $47.00 price objective on Merit Medical Systems (NASDAQ:MMSI) in a research note published on Thursday, November 16th. The firm currently has a buy rating on the medical instruments supplier’s stock.

Several other equities research analysts have also recently weighed in on the company. Craig Hallum restated a buy rating and set a $50.00 target price (up previously from $42.00) on shares of Merit Medical Systems in a research note on Thursday, July 27th. Bank of America started coverage on Merit Medical Systems in a research note on Thursday, July 20th. They set a buy rating and a $44.00 target price for the company. Piper Jaffray Companies restated a buy rating and set a $45.00 target price on shares of Merit Medical Systems in a research note on Friday, July 28th. UBS cut Merit Medical Systems from a strong-buy rating to an outperform rating in a research note on Monday, August 28th. Finally, Raymond James Financial restated an outperform rating and set a $44.00 target price on shares of Merit Medical Systems in a research note on Monday, August 28th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $43.77.

Shares of Merit Medical Systems (NASDAQ:MMSI) traded up $0.50 on Thursday, hitting $43.70. The stock had a trading volume of 807,264 shares, compared to its average volume of 389,448. The company has a quick ratio of 1.43, a current ratio of 2.78 and a debt-to-equity ratio of 0.39. The stock has a market cap of $2,168.59, a PE ratio of 34.02, a PEG ratio of 2.93 and a beta of 1.23. Merit Medical Systems has a fifty-two week low of $24.23 and a fifty-two week high of $45.50.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The business had revenue of $179.30 million during the quarter, compared to analysts’ expectations of $181.28 million. Merit Medical Systems had a return on equity of 9.86% and a net margin of 4.06%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. research analysts forecast that Merit Medical Systems will post 1.27 EPS for the current fiscal year.

In other Merit Medical Systems news, Director Kent W. Stanger sold 2,918 shares of Merit Medical Systems stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $44.55, for a total transaction of $129,996.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 5,518 shares of company stock worth $239,276. 5.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Merit Medical Systems by 4.5% in the second quarter. Vanguard Group Inc. now owns 4,374,628 shares of the medical instruments supplier’s stock valued at $166,893,000 after purchasing an additional 187,745 shares during the period. Frontier Capital Management Co. LLC increased its holdings in shares of Merit Medical Systems by 24.8% in the second quarter. Frontier Capital Management Co. LLC now owns 2,737,303 shares of the medical instruments supplier’s stock valued at $104,428,000 after purchasing an additional 543,580 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Merit Medical Systems by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,694,722 shares of the medical instruments supplier’s stock valued at $102,803,000 after purchasing an additional 19,257 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Merit Medical Systems by 922.3% in the second quarter. Janus Henderson Group PLC now owns 1,533,513 shares of the medical instruments supplier’s stock valued at $58,504,000 after purchasing an additional 1,383,513 shares during the period. Finally, State Street Corp increased its holdings in shares of Merit Medical Systems by 9.9% in the second quarter. State Street Corp now owns 1,339,547 shares of the medical instruments supplier’s stock valued at $51,105,000 after purchasing an additional 120,759 shares during the period. 90.89% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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