FY2024 EPS Estimates for Merit Medical Systems, Inc. Increased by Zacks Research (NASDAQ:MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Research analysts at Zacks Research boosted their FY2024 earnings estimates for shares of Merit Medical Systems in a research report issued on Tuesday, May 21st. Zacks Research analyst I. Bandyopadhyay now anticipates that the medical instruments supplier will earn $3.33 per share for the year, up from their previous forecast of $3.30. The consensus estimate for Merit Medical Systems’ current full-year earnings is $3.33 per share. Zacks Research also issued estimates for Merit Medical Systems’ Q4 2024 earnings at $0.86 EPS, Q1 2025 earnings at $0.78 EPS, Q4 2025 earnings at $1.01 EPS, Q1 2026 earnings at $0.88 EPS and FY2026 earnings at $3.97 EPS.

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. The firm had revenue of $323.51 million for 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 business’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS.

Several other research analysts have also recently commented 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. Piper Sandler raised their target price on shares of Merit Medical Systems from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Needham & Company LLC lowered 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, May 1st. Barrington Research raised their target price on shares of Merit Medical Systems from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, Raymond James raised their target price on shares of Merit Medical Systems from $84.00 to $89.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.78.

Merit Medical Systems Stock Down 1.5 %

Shares of MMSI opened at $80.90 on Thursday. Merit Medical Systems has a 12 month low of $62.58 and a 12 month high of $85.62. The firm’s 50 day moving average is $75.71 and its 200-day moving average is $75.50. The stock has a market capitalization of $4.70 billion, a PE ratio of 46.49, a P/E/G ratio of 2.30 and a beta of 0.91. The company has a current ratio of 6.03, a quick ratio of 4.38 and a debt-to-equity ratio of 0.65.

Hedge Funds Weigh In On Merit Medical Systems

A number of hedge funds have recently modified their holdings of the business. William Blair Investment Management LLC lifted its holdings in shares of Merit Medical Systems by 15.4% during the third quarter. William Blair Investment Management LLC now owns 3,895,695 shares of the medical instruments supplier’s stock worth $268,881,000 after purchasing an additional 520,423 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of Merit Medical Systems by 1.0% during the first quarter. Conestoga Capital Advisors LLC now owns 2,174,483 shares of the medical instruments supplier’s stock worth $164,717,000 after purchasing an additional 22,545 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Merit Medical Systems by 1.2% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,388,905 shares of the medical instruments supplier’s stock worth $95,862,000 after purchasing an additional 16,488 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Merit Medical Systems by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,306,702 shares of the medical instruments supplier’s stock worth $99,258,000 after purchasing an additional 41,065 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Merit Medical Systems by 25.9% during the third quarter. Loomis Sayles & Co. L P now owns 1,031,173 shares of the medical instruments supplier’s stock worth $71,172,000 after purchasing an additional 212,256 shares during the period. Institutional investors and hedge funds own 99.66% of the company’s stock.

Insider Buying and Selling

In other Merit Medical Systems news, Director Thomas James Gunderson sold 18,157 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $76.03, for a total value of $1,380,476.71. Following the sale, the director now owns 19,257 shares in the company, valued at $1,464,109.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Merit Medical Systems news, Director Thomas James Gunderson sold 18,157 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $76.03, for a total value of $1,380,476.71. Following the sale, the director now owns 19,257 shares in the company, valued at $1,464,109.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Wright sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $75.68, for a total transaction of $1,892,000.00. Following the completion of the sale, 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. In the last 90 days, insiders have sold 49,637 shares of company stock worth $3,751,673. Corporate insiders own 3.70% of the company’s stock.

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.