Research Analysts Issue Forecasts for Merit Medical Systems, Inc.’s Q2 2024 Earnings (NASDAQ:MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Equities research analysts at Barrington Research dropped their Q2 2024 earnings per share (EPS) estimates for shares of Merit Medical Systems in a research note issued on Wednesday, May 1st. Barrington Research analyst M. Petusky now anticipates that the medical instruments supplier will post earnings per share of $0.88 for the quarter, down from their previous estimate of $0.90. Barrington Research currently has a “Outperform” rating and a $100.00 price objective on the stock. The consensus estimate for Merit Medical Systems’ current full-year earnings is $3.33 per share.

Several other research analysts also recently issued reports on the company. Oppenheimer lifted their price target on Merit Medical Systems from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Bank of America initiated coverage on shares of Merit Medical Systems in a research report on Wednesday, February 7th. They issued a “neutral” rating and a $87.00 price target on the stock. Canaccord Genuity Group cut their price objective on Merit Medical Systems from $112.00 to $102.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Piper Sandler upped their target price on Merit Medical Systems from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Raymond James raised their price target on Merit Medical Systems from $84.00 to $89.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus price target of $92.78.

Merit Medical Systems Stock Up 2.5 %

MMSI opened at $78.97 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.95 and a current ratio of 6.03. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 45.39, a PEG ratio of 2.20 and a beta of 0.91. Merit Medical Systems has a one year low of $62.58 and a one year high of $85.62. The business’s fifty day moving average is $74.19 and its two-hundred day moving average is $74.21.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. The company had revenue of $323.51 million during the quarter, compared to analysts’ expectations of $315.57 million. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share.

Institutional Investors Weigh In On Merit Medical Systems

A number of large investors have recently added to or reduced their stakes in MMSI. Bank of New York Mellon Corp grew its stake in shares of Merit Medical Systems by 10.6% during the third quarter. Bank of New York Mellon Corp now owns 696,575 shares of the medical instruments supplier’s stock valued at $48,078,000 after acquiring an additional 66,944 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Merit Medical Systems by 14.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,316 shares of the medical instruments supplier’s stock worth $2,092,000 after purchasing an additional 3,840 shares during the last quarter. Advisor Partners II LLC raised its position in shares of Merit Medical Systems by 7.9% in the 3rd quarter. Advisor Partners II LLC now owns 3,704 shares of the medical instruments supplier’s stock valued at $256,000 after purchasing an additional 271 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Merit Medical Systems by 25.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 78,040 shares of the medical instruments supplier’s stock valued at $5,386,000 after purchasing an additional 15,862 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its stake in shares of Merit Medical Systems by 2.2% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,139,943 shares of the medical instruments supplier’s stock valued at $147,699,000 after buying an additional 45,675 shares during the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 6,480 shares of Merit Medical Systems stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total value of $479,196.00. Following the transaction, the chief financial officer now directly owns 12,007 shares of the company’s stock, valued at approximately $887,917.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Merit Medical Systems news, insider Joseph Wright sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $75.68, for a total value of $1,892,000.00. Following the completion of the transaction, the insider now owns 42,223 shares in the company, valued at approximately $3,195,436.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Raul Jr. Parra sold 6,480 shares of Merit Medical Systems stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total transaction of $479,196.00. Following the sale, the chief financial officer now owns 12,007 shares in the company, valued at approximately $887,917.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,637 shares of company stock worth $3,751,673. 3.70% of the stock is owned by insiders.

About Merit Medical Systems

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.