Merit Medical Systems, Inc. to Post FY2024 Earnings of $3.35 Per Share, Barrington Research Forecasts (NASDAQ:MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Equities research analysts at Barrington Research raised their FY2024 earnings estimates for Merit Medical Systems in a research report issued on Wednesday, May 1st. Barrington Research analyst M. Petusky now forecasts that the medical instruments supplier will post earnings of $3.35 per share for the year, up from their prior estimate of $3.31. Barrington Research currently has a “Outperform” rating and a $100.00 price target on the stock. The consensus estimate for Merit Medical Systems’ current full-year earnings is $3.33 per share. Barrington Research also issued estimates for Merit Medical Systems’ Q2 2025 earnings at $0.97 EPS.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.06. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The company had revenue of $323.51 million during the quarter, compared to the consensus estimate of $315.57 million. During the same quarter in the previous year, the firm earned $0.64 EPS. The company’s revenue was up 8.7% on a year-over-year basis.

Several other research firms have also issued reports on MMSI. CL King started coverage on Merit Medical Systems in a research report on Thursday, April 11th. They set a “buy” rating and a $88.00 price target on the stock. Bank of America initiated coverage on shares of Merit Medical Systems in a report on Wednesday, February 7th. They set a “neutral” rating and a $87.00 target price on the stock. StockNews.com raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Thursday. Needham & Company LLC cut their target price on shares of Merit Medical Systems from $88.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Canaccord Genuity Group decreased their target price on Merit Medical Systems from $112.00 to $102.00 and set a “buy” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Merit Medical Systems has a consensus rating of “Moderate Buy” and a consensus target price of $92.78.

Merit Medical Systems Trading Up 2.5 %

Shares of NASDAQ MMSI opened at $78.97 on Friday. The company has a quick ratio of 3.95, a current ratio of 6.03 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average price is $74.19 and its two-hundred day moving average price is $74.15. Merit Medical Systems has a 52-week low of $62.58 and a 52-week high of $85.62. The stock has a market capitalization of $4.59 billion, a P/E ratio of 45.39, a PEG ratio of 2.15 and a beta of 0.91.

Hedge Funds Weigh In On Merit Medical Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new position in shares of Merit Medical Systems in the 1st quarter worth approximately $133,000. FORA Capital LLC bought a new stake in shares of Merit Medical Systems during the 1st quarter worth $577,000. Fidelis Capital Partners LLC acquired a new position in shares of Merit Medical Systems in the 1st quarter valued at $90,000. BNP Paribas Financial Markets increased its position in shares of Merit Medical Systems by 55.3% in the first quarter. BNP Paribas Financial Markets now owns 52,953 shares of the medical instruments supplier’s stock worth $4,011,000 after acquiring an additional 18,863 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Merit Medical Systems during the first quarter valued at approximately $336,000. 99.66% of the stock is owned by institutional investors.

Insider Transactions at Merit Medical Systems

In related news, CFO Raul Jr. Parra sold 6,480 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total value of $479,196.00. Following the sale, the chief financial officer now directly owns 12,007 shares in the company, valued at approximately $887,917.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Raul Jr. Parra sold 6,480 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the insider now owns 42,223 shares in the company, valued at $3,195,436.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,637 shares of company stock worth $3,751,673. Company insiders own 3.70% of the company’s stock.

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.