Zacks Research Analysts Boost Earnings Estimates for Merit Medical Systems, Inc. (NASDAQ:MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSIFree Report) – Zacks Research boosted their Q1 2024 EPS estimates for shares of Merit Medical Systems in a report released on Wednesday, March 20th. Zacks Research analyst I. Bandyopadhyay now expects that the medical instruments supplier will post earnings of $0.70 per share for the quarter, up from their prior forecast of $0.64. The consensus estimate for Merit Medical Systems’ current full-year earnings is $3.31 per share. Zacks Research also issued estimates for Merit Medical Systems’ Q2 2024 earnings at $0.87 EPS, FY2024 earnings at $3.29 EPS, Q1 2025 earnings at $0.75 EPS, Q2 2025 earnings at $0.94 EPS, Q3 2025 earnings at $0.89 EPS and Q4 2025 earnings at $1.05 EPS.

Several other brokerages have also recently commented on MMSI. Barrington Research boosted their price target on shares of Merit Medical Systems from $96.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Bank of America assumed coverage on shares of Merit Medical Systems in a research report on Wednesday, February 7th. They issued a “neutral” rating and a $87.00 target price on the stock. Oppenheimer upped their price target on shares of Merit Medical Systems from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Canaccord Genuity Group lifted their price objective on shares of Merit Medical Systems from $102.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, Canaccord Genuity Group upgraded Merit Medical Systems from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Thursday, December 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Merit Medical Systems has an average rating of “Moderate Buy” and an average target price of $93.00.

Read Our Latest Stock Report on Merit Medical Systems

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI opened at $73.07 on Friday. The stock has a market cap of $4.23 billion, a P/E ratio of 45.10, a P/E/G ratio of 2.03 and a beta of 0.90. The firm’s 50-day simple moving average is $77.65 and its 200 day simple moving average is $72.64. Merit Medical Systems has a fifty-two week low of $62.58 and a fifty-two week high of $85.62. The company has a quick ratio of 3.95, a current ratio of 5.45 and a debt-to-equity ratio of 0.68.

Merit Medical Systems (NASDAQ:MMSIGet Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. Merit Medical Systems had a return on equity of 14.63% and a net margin of 7.51%. The business had revenue of $324.52 million during the quarter, compared to analyst estimates of $320.66 million. During the same period in the prior year, the company posted $0.79 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MMSI. Altshuler Shaham Ltd bought a new stake in shares of Merit Medical Systems during the fourth quarter worth $26,000. State of Wyoming acquired a new stake in shares of Merit Medical Systems during the second quarter worth $28,000. Valued Wealth Advisors LLC acquired a new position in shares of Merit Medical Systems during the 4th quarter worth about $29,000. Parallel Advisors LLC grew its holdings in Merit Medical Systems by 114.6% during the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 212 shares during the period. Finally, Belpointe Asset Management LLC lifted its holdings in Merit Medical Systems by 53.8% during the first quarter. Belpointe Asset Management LLC now owns 500 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 175 shares in the last quarter. Institutional investors own 93.16% of the company’s stock.

Insider Buying and Selling at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 6,480 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now directly owns 12,007 shares in the company, valued at $887,917.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Merit Medical Systems news, CFO Raul Jr. Parra sold 6,480 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now directly owns 12,007 shares of the company’s stock, valued at approximately $887,917.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joseph Wright sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $75.68, for a total transaction of $1,892,000.00. Following the transaction, the insider now owns 42,223 shares in the company, valued at approximately $3,195,436.64. The disclosure for this sale can be found here. Insiders sold 69,637 shares of company stock worth $5,351,673 over the last ninety days. 3.70% of the stock is currently owned by insiders.

About Merit Medical Systems

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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.

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Earnings History and Estimates for Merit Medical Systems (NASDAQ:MMSI)

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