Q1 2024 EPS Estimates for Merit Medical Systems, Inc. Boosted by Analyst (NASDAQ:MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Investment analysts at Zacks Research upped their Q1 2024 earnings per share estimates for shares of Merit Medical Systems in a report released on Friday, April 19th. Zacks Research analyst I. Bandyopadhyay now forecasts that the medical instruments supplier will post earnings of $0.71 per share for the quarter, up from their previous estimate of $0.70. The consensus estimate for Merit Medical Systems’ current full-year earnings is $3.31 per share. Zacks Research also issued estimates for Merit Medical Systems’ Q2 2024 earnings at $0.88 EPS, Q3 2024 earnings at $0.83 EPS, Q4 2024 earnings at $0.88 EPS, FY2024 earnings at $3.30 EPS, Q1 2025 earnings at $0.76 EPS, Q4 2025 earnings at $1.04 EPS, FY2025 earnings at $3.64 EPS, Q1 2026 earnings at $0.85 EPS and FY2026 earnings at $3.96 EPS.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. The firm had revenue of $324.52 million for the quarter, compared to analyst estimates of $320.66 million. Merit Medical Systems had a return on equity of 14.63% and a net margin of 7.51%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $0.79 EPS.

MMSI has been the topic of a number of other research reports. 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 price target on the stock. Canaccord Genuity Group increased their price target on Merit Medical Systems from $102.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Raymond James increased their price target on Merit Medical Systems from $84.00 to $89.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Oppenheimer raised their price objective on Merit Medical Systems from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $98.00 price objective on shares of Merit Medical Systems in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus price target of $92.50.

Merit Medical Systems Stock Up 1.3 %

Shares of MMSI opened at $74.18 on Monday. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 45.79, a PEG ratio of 2.01 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.95 and a current ratio of 5.45. The business’s fifty day moving average price is $74.86 and its two-hundred day moving average price is $73.68. Merit Medical Systems has a 52 week low of $62.58 and a 52 week high of $85.62.

Hedge Funds Weigh In On Merit Medical Systems

Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its holdings in shares of Merit Medical Systems by 69.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 103,099 shares of the medical instruments supplier’s stock valued at $7,116,000 after acquiring an additional 42,191 shares in the last quarter. FMR LLC grew its holdings in Merit Medical Systems by 26.0% during the third quarter. FMR LLC now owns 607,881 shares of the medical instruments supplier’s stock worth $41,956,000 after purchasing an additional 125,605 shares during the period. Envestnet Asset Management Inc. grew its holdings in Merit Medical Systems by 161.7% during the third quarter. Envestnet Asset Management Inc. now owns 141,938 shares of the medical instruments supplier’s stock worth $9,797,000 after purchasing an additional 87,711 shares during the period. Trillium Asset Management LLC grew its holdings in Merit Medical Systems by 18.0% during the third quarter. Trillium Asset Management LLC now owns 97,874 shares of the medical instruments supplier’s stock worth $6,755,000 after purchasing an additional 14,951 shares during the period. Finally, Mariner LLC grew its holdings in Merit Medical Systems by 352.9% during the third quarter. Mariner LLC now owns 31,813 shares of the medical instruments supplier’s stock worth $2,196,000 after purchasing an additional 24,788 shares during the period. Institutional investors own 99.66% of the company’s stock.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, Director Thomas James Gunderson sold 18,157 shares of Merit Medical Systems stock in a transaction dated 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 sale, the director now owns 19,257 shares of the company’s stock, valued at approximately $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, insider Joseph Wright sold 25,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $75.68, for a total value of $1,892,000.00. Following the completion of the transaction, the insider now owns 42,223 shares in the company, valued at approximately $3,195,436.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas James Gunderson sold 18,157 shares of the firm’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 owns 19,257 shares of the company’s stock, valued at approximately $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 90 days. 3.70% of the stock is currently owned by company insiders.

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.