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

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Research analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for Merit Medical Systems in a research note issued to investors on Tuesday, May 21st. Zacks Research analyst I. Bandyopadhyay now expects that the medical instruments supplier will earn $3.33 per share for the year, up from their prior forecast of $3.30. The consensus estimate for Merit Medical Systems’ current full-year earnings is $3.33 per share. Zacks Research also issued estimates for Merit Medical Systems’ Q4 2024 earnings at $0.86 EPS, Q1 2025 earnings at $0.78 EPS, Q4 2025 earnings at $1.01 EPS, Q1 2026 earnings at $0.88 EPS and FY2026 earnings at $3.97 EPS.

MMSI has been the subject of a number of other research reports. Barrington Research raised their price objective on Merit Medical Systems from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Raymond James lifted their price objective on Merit Medical Systems from $84.00 to $89.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Canaccord Genuity Group lowered their target price on Merit Medical Systems from $112.00 to $102.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. StockNews.com upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Finally, Piper Sandler increased their price objective on shares of Merit Medical Systems from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.78.

Merit Medical Systems Stock Performance

MMSI opened at $81.92 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.38 and a current ratio of 6.03. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 47.08, a PEG ratio of 2.29 and a beta of 0.91. The company has a fifty day moving average of $75.91 and a 200 day moving average of $75.58. Merit Medical Systems has a fifty-two week low of $62.58 and a fifty-two week high of $85.62.

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

Institutional Investors Weigh In On Merit Medical Systems

A number of institutional investors have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC lifted its position in Merit Medical Systems by 15.4% during the third quarter. William Blair Investment Management LLC now owns 3,895,695 shares of the medical instruments supplier’s stock valued at $268,881,000 after acquiring an additional 520,423 shares during the last quarter. Congress Asset Management Co. MA grew its stake in shares of Merit Medical Systems by 4,411.3% during the first quarter. Congress Asset Management Co. MA now owns 518,485 shares of the medical instruments supplier’s stock worth $39,275,000 after acquiring an additional 506,992 shares during the last quarter. Norges Bank purchased a new stake in shares of Merit Medical Systems during the fourth quarter worth about $38,165,000. abrdn plc purchased a new position in shares of Merit Medical Systems in the 3rd quarter valued at approximately $24,446,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Merit Medical Systems by 818.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 278,452 shares of the medical instruments supplier’s stock worth $21,151,000 after purchasing an additional 248,140 shares in the last quarter. Institutional investors own 99.66% of the company’s stock.

Insider Buying and Selling at Merit Medical Systems

In related news, insider Joseph Wright sold 25,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 42,223 shares of the company’s stock, valued at approximately $3,195,436.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Merit Medical Systems news, insider Joseph Wright sold 25,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $75.68, for a total transaction of $1,892,000.00. Following the transaction, the insider now directly owns 42,223 shares in the company, valued at approximately $3,195,436.64. The transaction was disclosed in a document filed 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 completion of the sale, the director now directly owns 19,257 shares of the company’s stock, valued at $1,464,109.71. The disclosure for this sale can be found here. Insiders have sold 49,637 shares of company stock worth $3,751,673 over the last quarter. 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.