Merit Medical Systems, Inc. (NASDAQ:MMSI) Expected to Post Q2 2024 Earnings of $0.88 Per Share

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Analysts at Barrington Research reduced their Q2 2024 EPS estimates for Merit Medical Systems in a research report issued to clients and investors on Wednesday, May 1st. Barrington Research analyst M. Petusky now anticipates that the medical instruments supplier will post earnings of $0.88 per share for the quarter, down from their previous forecast 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.

Other research analysts have also recently issued research reports about the company. 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. Bank of America assumed coverage on Merit Medical Systems in a report on Wednesday, February 7th. They set a “neutral” rating and a $87.00 price target for the company. StockNews.com raised Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Thursday, May 2nd. Canaccord Genuity Group lowered 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, May 1st. Finally, Oppenheimer raised 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 note on Thursday, February 29th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.78.

Merit Medical Systems Stock Performance

NASDAQ:MMSI opened at $79.51 on Monday. The company has a current ratio of 6.03, a quick ratio of 4.38 and a debt-to-equity ratio of 0.65. The stock has a 50 day simple moving average of $74.18 and a 200 day simple moving average of $74.32. Merit Medical Systems has a 1-year low of $62.58 and a 1-year high of $85.62. The stock has a market cap of $4.62 billion, a P/E ratio of 45.70, a PEG ratio of 2.20 and a beta of 0.91.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share for the quarter, beating 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 firm had revenue of $323.51 million for the quarter, compared to analysts’ expectations of $315.57 million. During the same period in the prior year, the firm earned $0.64 EPS. The business’s revenue was up 8.7% on a year-over-year basis.

Insider Transactions at Merit Medical Systems

In related news, Director Thomas James Gunderson sold 18,157 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $76.03, for a total value of $1,380,476.71. Following the completion of the sale, the director now directly owns 19,257 shares in the company, valued at $1,464,109.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Raul Jr. Parra sold 6,480 shares of the company’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 sale, 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 legal filing with the SEC, which is available at the SEC website. Also, Director Thomas James Gunderson sold 18,157 shares of the 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 sale, the director now owns 19,257 shares of the company’s stock, valued at $1,464,109.71. 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. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Merit Medical Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. Valued Wealth Advisors LLC bought a new position in shares of Merit Medical Systems in the 4th quarter worth about $29,000. Parallel Advisors LLC increased its holdings in Merit Medical Systems by 114.6% in the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 212 shares in the last quarter. Tompkins Financial Corp acquired a new position in Merit Medical Systems in the fourth quarter valued at approximately $38,000. Headlands Technologies LLC bought a new position in shares of Merit Medical Systems during the 3rd quarter worth approximately $41,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Merit Medical Systems during the 3rd quarter worth approximately $67,000. Institutional investors and hedge funds own 99.66% 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.