Barrington Research Comments on Merit Medical Systems, Inc.’s FY2024 Earnings (NASDAQ:MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Analysts at Barrington Research upped their FY2024 earnings per share estimates for shares of Merit Medical Systems in a research note issued to investors on Wednesday, May 1st. Barrington Research analyst M. Petusky now anticipates that the medical instruments supplier will post earnings of $3.35 per share for the year, up from their previous estimate of $3.31. Barrington Research currently has a “Outperform” rating and a $100.00 target price on the stock. The consensus estimate for Merit Medical Systems’ current full-year earnings is $3.33 per share. Barrington Research also issued estimates for Merit Medical Systems’ Q2 2025 earnings at $0.97 EPS.

Other equities research analysts have also recently issued research reports about the company. Raymond James boosted their price objective on Merit Medical Systems from $84.00 to $89.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. CL King started coverage on Merit Medical Systems in a research note on Thursday, April 11th. They issued a “buy” rating and a $88.00 price target for the company. Oppenheimer increased their price objective on Merit Medical Systems from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Needham & Company LLC reduced their target price on shares of Merit Medical Systems from $88.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Bank of America initiated coverage on shares of Merit Medical Systems in a research report on Wednesday, February 7th. They set a “neutral” rating and a $87.00 price target on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Merit Medical Systems has a consensus rating of “Moderate Buy” and a consensus target price of $92.78.

Merit Medical Systems Stock Performance

Shares of MMSI stock opened at $78.97 on Friday. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 45.39, a PEG ratio of 2.15 and a beta of 0.91. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.95 and a current ratio of 6.03. Merit Medical Systems has a 52 week low of $62.58 and a 52 week high of $85.62. The company has a 50-day simple moving average of $74.19 and a 200 day simple moving average of $74.15.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Tuesday, April 30th. The medical instruments supplier reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $323.51 million during the quarter, compared to analysts’ expectations of $315.57 million. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Group LLC boosted its stake in shares of Merit Medical Systems by 0.6% in the 4th quarter. Renaissance Group LLC now owns 24,550 shares of the medical instruments supplier’s stock valued at $1,863,000 after purchasing an additional 144 shares in the last quarter. Parallel Advisors LLC boosted its position in Merit Medical Systems by 114.6% in the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 212 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Merit Medical Systems by 1.5% during the third quarter. Arizona State Retirement System now owns 16,370 shares of the medical instruments supplier’s stock worth $1,130,000 after buying an additional 236 shares during the last quarter. Zions Bancorporation N.A. increased its holdings in shares of Merit Medical Systems by 0.9% during the third quarter. Zions Bancorporation N.A. now owns 28,869 shares of the medical instruments supplier’s stock worth $1,993,000 after buying an additional 270 shares in the last quarter. Finally, Advisor Partners II LLC lifted its stake in shares of Merit Medical Systems by 7.9% in the 3rd quarter. Advisor Partners II LLC now owns 3,704 shares of the medical instruments supplier’s stock valued at $256,000 after acquiring an additional 271 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 6,480 shares of the 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 sale, the chief financial officer now directly owns 12,007 shares in the company, valued at $887,917.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Merit Medical Systems news, CFO Raul Jr. Parra sold 6,480 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $887,917.65. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas James Gunderson sold 18,157 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were 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 approximately $1,464,109.71. The disclosure for this sale can be found here. Insiders sold a total of 49,637 shares of company stock valued at $3,751,673 over the last quarter. 3.70% of the stock is owned by corporate insiders.

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.