Brokers Set Expectations for Merit Medical Systems, Inc.’s Q2 2022 Earnings (NASDAQ:MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSI – Get Rating) – Analysts at Oppenheimer reduced their Q2 2022 EPS estimates for shares of Merit Medical Systems in a research note issued to investors on Thursday, April 28th. Oppenheimer analyst S. Lichtman now anticipates that the medical instruments supplier will earn $0.57 per share for the quarter, down from their prior forecast of $0.67. Oppenheimer also issued estimates for Merit Medical Systems’ Q3 2022 earnings at $0.66 EPS.

Merit Medical Systems (NASDAQ:MMSI – Get Rating) last issued its earnings results on Wednesday, April 27th. The medical instruments supplier reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. Merit Medical Systems had a net margin of 4.36% and a return on equity of 13.47%. During the same quarter last year, the firm earned $0.52 earnings per share.

MMSI has been the subject of a number of other research reports. Needham & Company LLC cut their target price on shares of Merit Medical Systems from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Barrington Research cut their target price on shares of Merit Medical Systems from $82.00 to $78.00 in a research report on Thursday. Raymond James cut their target price on shares of Merit Medical Systems from $73.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, February 25th. TheStreet upgraded shares of Merit Medical Systems from a “c” rating to a “b-” rating in a research report on Friday, February 25th. Finally, Piper Sandler cut their price objective on shares of Merit Medical Systems from $79.00 to $75.00 in a research report on Friday, February 25th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $74.40.

Shares of NASDAQ:MMSI opened at $62.01 on Monday. The company has a quick ratio of 1.10, a current ratio of 2.04 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $3.51 billion, a PE ratio of 73.82, a P/E/G ratio of 2.43 and a beta of 1.03. Merit Medical Systems has a twelve month low of $51.66 and a twelve month high of $73.85. The company has a 50-day moving average price of $64.89 and a two-hundred day moving average price of $63.47.

A number of large investors have recently modified their holdings of the stock. Emerald Advisers LLC raised its position in Merit Medical Systems by 10.3% in the 1st quarter. Emerald Advisers LLC now owns 558,371 shares of the medical instruments supplier’s stock worth $37,143,000 after purchasing an additional 52,020 shares during the period. Nisa Investment Advisors LLC grew its holdings in Merit Medical Systems by 27.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,690 shares of the medical instruments supplier’s stock worth $245,000 after acquiring an additional 800 shares during the last quarter. Hardy Reed LLC bought a new stake in Merit Medical Systems in the 1st quarter worth $155,000. Comerica Bank grew its holdings in Merit Medical Systems by 1.1% in the 1st quarter. Comerica Bank now owns 248,484 shares of the medical instruments supplier’s stock worth $17,516,000 after acquiring an additional 2,594 shares during the last quarter. Finally, AMI Asset Management Corp grew its holdings in Merit Medical Systems by 5.7% in the 1st quarter. AMI Asset Management Corp now owns 142,912 shares of the medical instruments supplier’s stock worth $9,507,000 after acquiring an additional 7,763 shares during the last quarter. Institutional investors own 95.93% of the company’s stock.

About Merit Medical Systems (Get Rating)

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. The company operates in two segments, Cardiovascular and Endoscopy.

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