Q3 2022 EPS Estimates for Merit Medical Systems, Inc. Reduced by Analyst (NASDAQ:MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSI – Get Rating) – Equities research analysts at Oppenheimer reduced their Q3 2022 EPS estimates for shares of Merit Medical Systems in a research note issued to investors on Thursday, July 28th. Oppenheimer analyst S. Lichtman now expects that the medical instruments supplier will post earnings of $0.52 per share for the quarter, down from their previous estimate of $0.66. The consensus estimate for Merit Medical Systems’ current full-year earnings is $2.50 per share.

Merit Medical Systems (NASDAQ:MMSI – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The medical instruments supplier reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.15. Merit Medical Systems had a net margin of 4.36% and a return on equity of 13.33%. The company had revenue of $294.98 million for the quarter, compared to the consensus estimate of $280.55 million. During the same quarter in the previous year, the firm posted $0.62 EPS. The business’s revenue was up 5.2% compared to the same quarter last year.

Several other research analysts also recently issued reports on the stock. StockNews.com upgraded shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 13th. TheStreet cut shares of Merit Medical Systems from a “b-” rating to a “c+” rating in a research note on Wednesday, May 11th. Piper Sandler lowered their target price on shares of Merit Medical Systems from $75.00 to $70.00 in a research note on Friday, July 1st. Raymond James reissued a “maintains” rating on shares of Merit Medical Systems in a research note on Thursday. Finally, Barrington Research lowered their target price on shares of Merit Medical Systems from $82.00 to $78.00 in a research note on Thursday, April 28th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Merit Medical Systems presently has an average rating of “Buy” and an average target price of $73.40.

Merit Medical Systems Stock Performance

NASDAQ:MMSI opened at $57.48 on Monday. The firm’s 50-day moving average is $55.81 and its 200-day moving average is $59.62. Merit Medical Systems has a 52-week low of $50.46 and a 52-week high of $73.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.35. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 68.43, a PEG ratio of 1.97 and a beta of 1.05.

Institutional Trading of Merit Medical Systems

Several large investors have recently added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust lifted its position in shares of Merit Medical Systems by 2.3% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 480,829 shares of the medical instruments supplier’s stock worth $26,095,000 after purchasing an additional 10,770 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Merit Medical Systems by 746.0% during the second quarter. SG Americas Securities LLC now owns 27,013 shares of the medical instruments supplier’s stock worth $1,466,000 after purchasing an additional 23,820 shares in the last quarter. Millrace Asset Group Inc. lifted its position in shares of Merit Medical Systems by 35.9% during the second quarter. Millrace Asset Group Inc. now owns 29,097 shares of the medical instruments supplier’s stock worth $1,579,000 after purchasing an additional 7,680 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Merit Medical Systems by 11.4% during the second quarter. Arizona State Retirement System now owns 15,300 shares of the medical instruments supplier’s stock worth $830,000 after purchasing an additional 1,565 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Merit Medical Systems by 114.2% during the second quarter. Assenagon Asset Management S.A. now owns 264,292 shares of the medical instruments supplier’s stock worth $14,343,000 after purchasing an additional 140,933 shares in the last quarter. 95.25% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Merit Medical Systems news, Director F. Ann Millner sold 6,378 shares of the company’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $61.92, for a total transaction of $394,925.76. Following the sale, the director now directly owns 27,698 shares of the company’s stock, valued at $1,715,060.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.80% of the company’s stock.

Merit Medical Systems Company Profile

(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.