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

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Equities researchers at Zacks Research increased their Q1 2024 earnings per share estimates for shares of Merit Medical Systems in a research report issued on Friday, April 19th. Zacks Research analyst I. Bandyopadhyay now anticipates that the medical instruments supplier will post earnings per share of $0.71 for the quarter, up from their prior 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.

Several other research firms have also weighed in on MMSI. Oppenheimer lifted 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. StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Bank of America started coverage on Merit Medical Systems in a report on Wednesday, February 7th. They set a “neutral” rating and a $87.00 target price on the stock. Barrington Research reiterated an “outperform” rating and set a $98.00 target price on shares of Merit Medical Systems in a report on Tuesday, April 16th. Finally, Canaccord Genuity Group upped their target price on Merit Medical Systems from $102.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $92.50.

Merit Medical Systems Stock Up 1.5 %

Shares of Merit Medical Systems stock opened at $72.03 on Monday. The company has a quick ratio of 3.95, a current ratio of 5.45 and a debt-to-equity ratio of 0.68. Merit Medical Systems has a 12 month low of $62.58 and a 12 month high of $85.62. The business has a fifty day simple moving average of $75.08 and a 200 day simple moving average of $73.59. The stock has a market cap of $4.18 billion, a PE ratio of 44.46, a price-to-earnings-growth ratio of 2.01 and a beta of 0.89.

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

Insider Activity

In other Merit Medical Systems news, Director Thomas James Gunderson sold 18,157 shares of the company’s stock in a transaction 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 in the company, 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 related news, Director Thomas James Gunderson sold 18,157 shares of the stock in a transaction on 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 completion of the sale, the director now directly owns 19,257 shares in the company, valued at $1,464,109.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Wright sold 25,000 shares of the 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 of the company’s stock, valued at $3,195,436.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,637 shares of company stock valued at $3,751,673. 3.70% of the stock is owned by insiders.

Institutional Trading of Merit Medical Systems

Several large investors have recently made changes to their positions in the company. Norden Group LLC acquired a new stake in shares of Merit Medical Systems in the 1st quarter valued at about $293,000. Allspring Global Investments Holdings LLC lifted its position in Merit Medical Systems by 30.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 70,999 shares of the medical instruments supplier’s stock valued at $5,378,000 after acquiring an additional 16,608 shares in the last quarter. AlphaMark Advisors LLC bought a new position in Merit Medical Systems in the 1st quarter valued at about $304,000. Congress Wealth Management LLC DE bought a new position in Merit Medical Systems in the 1st quarter valued at about $5,502,000. Finally, Diversified Trust Co lifted its position in Merit Medical Systems by 5.4% in the 1st quarter. Diversified Trust Co now owns 11,293 shares of the medical instruments supplier’s stock valued at $855,000 after acquiring an additional 577 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

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.