Merit Medical Systems Inc. (NASDAQ:MMSI)‘s stock had its “buy” rating reaffirmed by analysts at Canaccord Genuity in a report issued on Thursday. They presently have a $29.00 price objective on the stock. Canaccord Genuity’s target price suggests a potential upside of 23.56% from the stock’s current price.
A number of large investors have recently bought and sold shares of MMSI. Nationwide Fund Advisors increased its stake in Merit Medical Systems by 2.7% in the fourth quarter. Nationwide Fund Advisors now owns 120,786 shares of the company’s stock worth $2,245,000 after buying an additional 3,144 shares during the period. California State Teachers Retirement System increased its stake in Merit Medical Systems by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 81,602 shares of the company’s stock worth $1,517,000 after buying an additional 1,289 shares during the period. Rhumbline Advisers increased its stake in Merit Medical Systems by 5.1% in the fourth quarter. Rhumbline Advisers now owns 67,088 shares of the company’s stock worth $1,247,000 after buying an additional 3,265 shares during the period. GSA Capital Partners LLP increased its stake in Merit Medical Systems by 19.8% in the fourth quarter. GSA Capital Partners LLP now owns 84,566 shares of the company’s stock worth $1,572,000 after buying an additional 13,966 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in Merit Medical Systems by 52.3% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 288,238 shares of the company’s stock worth $5,359,000 after buying an additional 98,938 shares during the period.
A number of other equities research analysts also recently commented on the company. Zacks Investment Research raised Merit Medical Systems from a “sell” rating to a “hold” rating in a research report on Friday, June 10th. Barrington Research downgraded Merit Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Merit Medical Systems presently has an average rating of “Buy” and a consensus price target of $23.20.
Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.02. The business earned $151.07 million during the quarter, compared to analysts’ expectations of $147.76 million. During the same period in the prior year, the firm earned $0.25 EPS. Merit Medical Systems’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts expect that Merit Medical Systems will post $0.97 EPS for the current fiscal year.
Merit Medical Systems, Inc is a designer, developer, manufacturer and marketer of medical devices used in an array of interventional and diagnostic procedures. The Company operates in two segments: cardiovascular and endoscopy. Its 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; embolotherapeutic products, and cardiac rhythm management and electrophysiology (CRM/EP) devices.
