Barrington Research Analysts Decrease Earnings Estimates for Merit Medical Systems, Inc. (NASDAQ:MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Analysts at Barrington Research decreased their Q2 2024 earnings per share (EPS) 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 earn $0.88 per share for the quarter, down from their previous estimate of $0.90. Barrington Research 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.

A number of other brokerages have also recently weighed in on MMSI. Bank of America assumed coverage on Merit Medical Systems in a report on Wednesday, February 7th. They issued a “neutral” rating and a $87.00 target price on the stock. Oppenheimer boosted their target price on 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 cut their price target 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. Piper Sandler boosted their price objective on shares of Merit Medical Systems from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, StockNews.com raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $92.78.

Merit Medical Systems Stock Up 0.7 %

Shares of NASDAQ MMSI opened at $79.51 on Monday. The stock has a market capitalization of $4.62 billion, a PE ratio of 45.70, a P/E/G ratio of 2.20 and a beta of 0.91. The company has a quick ratio of 4.38, a current ratio of 6.03 and a debt-to-equity ratio of 0.65. The firm has a fifty day moving average of $74.18 and a 200-day moving average of $74.32. 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 announced its quarterly earnings data 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 business had revenue of $323.51 million for the quarter, compared to analyst estimates of $315.57 million. During the same period in the prior year, the firm posted $0.64 EPS. The company’s revenue was up 8.7% on a year-over-year basis.

Insider Buying and Selling

In other Merit Medical Systems news, Director Thomas James Gunderson sold 18,157 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 19,257 shares of the company’s stock, valued at approximately $1,464,109.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Joseph Wright sold 25,000 shares of Merit Medical Systems stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $75.68, for a total value of $1,892,000.00. Following the completion of the sale, the insider now owns 42,223 shares in the company, valued at $3,195,436.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas James Gunderson sold 18,157 shares of the stock in a transaction 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 transaction, the director now owns 19,257 shares in the company, valued at $1,464,109.71. The disclosure for this sale can be found here. Insiders have sold 49,637 shares of company stock valued at $3,751,673 in the last quarter. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Institutional investors have recently modified their holdings of the stock. William Blair Investment Management LLC raised 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. Congress Asset Management Co. MA raised its stake in Merit Medical Systems by 4,411.3% during the first quarter. Congress Asset Management Co. MA now owns 518,485 shares of the medical instruments supplier’s stock worth $39,275,000 after acquiring an additional 506,992 shares during the period. Norges Bank acquired a new stake in Merit Medical Systems during the fourth quarter worth about $38,165,000. abrdn plc acquired a new position in Merit Medical Systems in the third quarter valued at approximately $24,446,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Merit Medical Systems by 818.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 278,452 shares of the medical instruments supplier’s stock valued at $21,151,000 after acquiring an additional 248,140 shares during the period. Institutional investors and hedge funds own 99.66% 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.