FY2024 EPS Estimates for Merit Medical Systems, Inc. Lowered by Analyst (NASDAQ:MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for Merit Medical Systems in a research note issued to investors on Thursday, August 22nd. Zacks Research analyst I. Bandyopadhyay now expects that the medical instruments supplier will earn $3.30 per share for the year, down from their prior forecast of $3.31. The consensus estimate for Merit Medical Systems’ current full-year earnings is $3.29 per share. Zacks Research also issued estimates for Merit Medical Systems’ Q4 2024 earnings at $0.82 EPS, Q1 2025 earnings at $0.80 EPS, Q2 2025 earnings at $0.96 EPS, Q4 2025 earnings at $0.88 EPS, Q1 2026 earnings at $0.80 EPS and Q2 2026 earnings at $1.09 EPS.

Several other analysts have also recently issued reports on MMSI. Canaccord Genuity Group upped their price objective on Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Piper Sandler boosted their price objective on shares of Merit Medical Systems from $97.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Bank of America upped their price target on shares of Merit Medical Systems from $87.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Baird R W upgraded Merit Medical Systems to a “strong-buy” rating in a report on Friday, June 28th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Merit Medical Systems in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $97.10.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $93.29 on Monday. The firm has a fifty day moving average price of $86.69 and a 200 day moving average price of $80.65. Merit Medical Systems has a fifty-two week low of $62.58 and a fifty-two week high of $93.50. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of 53.61, a P/E/G ratio of 2.38 and a beta of 0.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.38 and a current ratio of 6.03.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.47%. The business had revenue of $338.00 million during the quarter, compared to analyst estimates of $334.94 million.

Hedge Funds Weigh In On Merit Medical Systems

A number of large investors have recently added to or reduced their stakes in MMSI. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Merit Medical Systems by 23.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,347 shares of the medical instruments supplier’s stock worth $1,014,000 after acquiring an additional 2,496 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Merit Medical Systems by 4.7% in the fourth quarter. California Public Employees Retirement System now owns 81,751 shares of the medical instruments supplier’s stock valued at $6,210,000 after purchasing an additional 3,636 shares during the period. New York State Common Retirement Fund boosted its holdings in Merit Medical Systems by 1.4% in the 4th quarter. New York State Common Retirement Fund now owns 193,039 shares of the medical instruments supplier’s stock valued at $14,663,000 after purchasing an additional 2,649 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Merit Medical Systems by 26.4% during the 4th quarter. Russell Investments Group Ltd. now owns 19,074 shares of the medical instruments supplier’s stock worth $1,449,000 after buying an additional 3,989 shares during the last quarter. Finally, Silver Oak Securities Incorporated lifted its holdings in Merit Medical Systems by 53.9% in the fourth quarter. Silver Oak Securities Incorporated now owns 5,358 shares of the medical instruments supplier’s stock valued at $407,000 after acquiring an additional 1,877 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $85.00, for a total value of $1,062,500.00. Following the sale, the director now directly owns 32,391 shares of the company’s stock, valued at $2,753,235. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $81.85, for a total value of $613,875.00. Following the sale, the chief operating officer now directly owns 14,819 shares of the company’s stock, valued at $1,212,935.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $85.00, for a total value of $1,062,500.00. Following the transaction, the director now directly owns 32,391 shares of the company’s stock, valued at $2,753,235. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

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.