Q1 2024 EPS Estimates for Merit Medical Systems, Inc. (NASDAQ:MMSI) Boosted by Zacks Research

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Analysts at Zacks Research raised their Q1 2024 earnings per share estimates for shares of Merit Medical Systems in a report issued on Friday, April 19th. Zacks Research analyst I. Bandyopadhyay now expects that the medical instruments supplier will post earnings of $0.71 per share for the quarter, up from their prior forecast of $0.70. 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 $0.88 EPS, Q3 2024 earnings at $0.83 EPS, Q4 2024 earnings at $0.88 EPS, FY2024 earnings at $3.30 EPS, Q1 2025 earnings at $0.76 EPS, Q4 2025 earnings at $1.04 EPS, FY2025 earnings at $3.64 EPS, Q1 2026 earnings at $0.85 EPS and FY2026 earnings at $3.96 EPS.

Several other equities research analysts have also issued reports on the stock. Oppenheimer raised their target price on shares of Merit Medical Systems from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Needham & Company LLC reissued a “buy” rating and issued a $88.00 price objective on shares of Merit Medical Systems in a research note on Thursday, April 11th. StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Piper Sandler raised their price target on Merit Medical Systems from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th. Finally, Bank of America initiated coverage on Merit Medical Systems in a report on Wednesday, February 7th. They set a “neutral” rating and a $87.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $92.50.

Merit Medical Systems Stock Up 1.7 %

Shares of MMSI opened at $73.25 on Monday. The company has a quick ratio of 3.95, a current ratio of 5.45 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average of $74.95 and a 200 day moving average of $73.64. The company has a market cap of $4.25 billion, a PE ratio of 45.22, a P/E/G ratio of 2.01 and a beta of 0.89. Merit Medical Systems has a 52-week low of $62.58 and a 52-week high of $85.62.

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

Insider Transactions at Merit Medical Systems

In related news, CFO Raul Jr. Parra sold 6,480 shares of the company’s stock in a transaction dated 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 $887,917.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Thomas James Gunderson sold 18,157 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $76.03, for a total transaction of $1,380,476.71. Following the completion of the sale, the director now directly owns 19,257 shares in the company, valued at approximately $1,464,109.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Raul Jr. Parra sold 6,480 shares of Merit Medical Systems stock in a transaction dated 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 transaction, 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. In the last 90 days, insiders have sold 49,637 shares of company stock valued at $3,751,673. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Merit Medical Systems

Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in Merit Medical Systems by 69.3% in the third quarter. Public Employees Retirement System of Ohio now owns 103,099 shares of the medical instruments supplier’s stock valued at $7,116,000 after buying an additional 42,191 shares during the last quarter. FMR LLC increased its holdings in shares of Merit Medical Systems by 26.0% in the third quarter. FMR LLC now owns 607,881 shares of the medical instruments supplier’s stock valued at $41,956,000 after purchasing an additional 125,605 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Merit Medical Systems by 161.7% in the third quarter. Envestnet Asset Management Inc. now owns 141,938 shares of the medical instruments supplier’s stock worth $9,797,000 after purchasing an additional 87,711 shares during the last quarter. Trillium Asset Management LLC lifted its holdings in shares of Merit Medical Systems by 18.0% during the third quarter. Trillium Asset Management LLC now owns 97,874 shares of the medical instruments supplier’s stock worth $6,755,000 after purchasing an additional 14,951 shares during the period. Finally, Mariner LLC boosted its position in Merit Medical Systems by 352.9% in the third quarter. Mariner LLC now owns 31,813 shares of the medical instruments supplier’s stock valued at $2,196,000 after buying an additional 24,788 shares during the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Company Profile

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.