Zacks Research Brokers Lift Earnings Estimates for Merit Medical Systems, Inc. (NASDAQ:MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Research analysts at Zacks Research boosted their Q1 2024 EPS estimates for Merit Medical Systems in a research note issued to investors on Friday, April 19th. Zacks Research analyst I. Bandyopadhyay now expects that the medical instruments supplier will post earnings of $0.71 per share 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.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The business 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 firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share.

A number of other brokerages have also issued reports on MMSI. Bank of America began coverage on shares of Merit Medical Systems in a research report on Wednesday, February 7th. They set a “neutral” rating and a $87.00 target price on the stock. Canaccord Genuity Group boosted their price objective on shares of Merit Medical Systems from $102.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Piper Sandler increased their target price on shares of Merit Medical Systems from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, January 12th. Needham & Company LLC restated a “buy” rating and set a $88.00 price target on shares of Merit Medical Systems in a research note on Thursday, April 11th. Finally, CL King initiated coverage on Merit Medical Systems in a report on Thursday, April 11th. They issued a “buy” rating and a $88.00 price target for the company. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.50.

Merit Medical Systems Stock Up 1.7 %

Shares of MMSI stock opened at $73.25 on Monday. Merit Medical Systems has a 12 month low of $62.58 and a 12 month high of $85.62. The company has a quick ratio of 3.95, a current ratio of 5.45 and a debt-to-equity ratio of 0.68. The firm has a market cap of $4.25 billion, a PE ratio of 45.22, a price-to-earnings-growth ratio of 2.01 and a beta of 0.89. The stock has a 50 day moving average of $74.95 and a 200-day moving average of $73.64.

Institutional Trading of Merit Medical Systems

Several large investors have recently made changes to their positions in the business. Valued Wealth Advisors LLC acquired a new position in shares of Merit Medical Systems during the fourth quarter valued at $29,000. Parallel Advisors LLC grew its position in shares of Merit Medical Systems by 114.6% during the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 212 shares during the period. Tompkins Financial Corp bought a new stake in shares of Merit Medical Systems during the fourth quarter worth approximately $38,000. Headlands Technologies LLC acquired a new position in Merit Medical Systems in the third quarter valued at approximately $41,000. Finally, Ronald Blue Trust Inc. lifted its stake in shares of Merit Medical Systems by 253.5% in the 3rd quarter. Ronald Blue Trust Inc. now owns 972 shares of the medical instruments supplier’s stock valued at $67,000 after purchasing an additional 697 shares during the period. Institutional investors own 99.66% of the company’s stock.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 6,480 shares of Merit Medical Systems stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total transaction of $479,196.00. Following the completion of the transaction, the chief financial officer now directly owns 12,007 shares of the company’s stock, valued at $887,917.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Raul Jr. Parra sold 6,480 shares of Merit Medical Systems stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total transaction of $479,196.00. Following the completion of the transaction, the chief financial officer now directly owns 12,007 shares of the company’s stock, valued at approximately $887,917.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas James Gunderson sold 18,157 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 19,257 shares in the company, valued at $1,464,109.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,637 shares of company stock valued at $3,751,673. Corporate insiders own 3.70% of the company’s stock.

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.