Q3 2024 EPS Estimates for Merit Medical Systems, Inc. Reduced by Analyst (NASDAQ:MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Stock analysts at Zacks Research dropped their Q3 2024 earnings estimates for shares of Merit Medical Systems in a research note issued on Tuesday, May 21st. Zacks Research analyst I. Bandyopadhyay now expects that the medical instruments supplier will post earnings of $0.82 per share for the quarter, down from their prior forecast of $0.83. 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’ Q2 2025 earnings at $0.92 EPS, Q3 2025 earnings at $0.88 EPS and FY2025 earnings at $3.59 EPS.

Other equities research analysts have also issued research reports about the company. Bank of America initiated coverage on Merit Medical Systems in a research note on Wednesday, February 7th. They issued a “neutral” rating and a $87.00 target price for the company. 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, May 1st. Raymond James upped their price target on shares of Merit Medical Systems from $84.00 to $89.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Oppenheimer raised their price target 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. Finally, CL King began coverage on shares of Merit Medical Systems in a research report on Thursday, April 11th. They issued a “buy” rating and a $88.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.78.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $81.92 on Friday. The company’s fifty day moving average price is $75.91 and its 200-day moving average price is $75.58. The company has a debt-to-equity ratio of 0.65, a current ratio of 6.03 and a quick ratio of 4.38. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 47.08, a PEG ratio of 2.29 and a beta of 0.91. Merit Medical Systems has a one year low of $62.58 and a one year high of $85.62.

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

Insider Activity

In other news, Director Thomas James Gunderson sold 18,157 shares of the business’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 transaction of $1,380,476.71. Following the completion of the transaction, the director now directly owns 19,257 shares of the company’s stock, valued at $1,464,109.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Merit Medical Systems news, CFO Raul Jr. Parra sold 6,480 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was 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 owns 12,007 shares in the company, valued at $887,917.65. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas James Gunderson sold 18,157 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $1,464,109.71. The disclosure for this sale can be found here. Insiders have sold a total of 49,637 shares of company stock valued at $3,751,673 over the last ninety days. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC grew its holdings in Merit Medical Systems by 15.4% during the 3rd quarter. William Blair Investment Management LLC now owns 3,895,695 shares of the medical instruments supplier’s stock valued at $268,881,000 after buying an additional 520,423 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of Merit Medical Systems by 1.0% in the first quarter. Conestoga Capital Advisors LLC now owns 2,174,483 shares of the medical instruments supplier’s stock valued at $164,717,000 after purchasing an additional 22,545 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in 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 valued at $95,862,000 after purchasing an additional 16,488 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in 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 valued at $99,258,000 after purchasing an additional 41,065 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in 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 valued at $71,172,000 after purchasing an additional 212,256 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors.

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.