Barrington Research Research Analysts Lower Earnings Estimates for Merit Medical Systems, Inc. (NASDAQ:MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Equities research analysts at Barrington Research dropped their Q3 2024 earnings per share estimates for shares of Merit Medical Systems in a research note issued on Tuesday, July 2nd. Barrington Research analyst M. Petusky now anticipates that the medical instruments supplier will post earnings of $0.78 per share for the quarter, down from their prior forecast of $0.82. Barrington Research has a “Outperform” rating and a $100.00 price target on the stock. The consensus estimate for Merit Medical Systems’ current full-year earnings is $3.27 per share. Barrington Research also issued estimates for Merit Medical Systems’ Q4 2024 earnings at $0.85 EPS, Q1 2025 earnings at $0.81 EPS, Q3 2025 earnings at $0.93 EPS, Q4 2025 earnings at $0.99 EPS and FY2025 earnings at $3.70 EPS.

Several other research analysts also recently commented on MMSI. Baird R W raised Merit Medical Systems to a “strong-buy” rating in a report on Friday, June 28th. Needham & Company LLC lifted their target price on Merit Medical Systems from $85.00 to $93.00 and gave the stock a “buy” rating in a report on Monday. StockNews.com raised Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Robert W. Baird started coverage on Merit Medical Systems in a research note on Friday, June 28th. They issued an “outperform” rating and a $96.00 price objective on the stock. Finally, 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 objective on the stock. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Merit Medical Systems currently has an average rating of “Buy” and a consensus price target of $96.20.

Merit Medical Systems Stock Down 0.8 %

Shares of MMSI opened at $85.85 on Thursday. The company has a market capitalization of $4.99 billion, a PE ratio of 49.34, a PEG ratio of 2.46 and a beta of 0.88. Merit Medical Systems has a 12 month low of $62.58 and a 12 month high of $87.44. The stock’s 50-day moving average price is $81.33 and its two-hundred day moving average price is $77.91. The company has a current ratio of 6.03, a quick ratio of 4.38 and a debt-to-equity ratio of 0.65.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 EPS for the quarter, topping the consensus estimate of $0.71 by $0.06. The firm had revenue of $323.51 million for 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 business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS.

Insider Activity at Merit Medical Systems

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 completion of the sale, the chief operating officer now owns 14,819 shares of the company’s stock, valued at $1,212,935.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Neil Peterson sold 7,500 shares of the stock in a transaction 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 transaction, the chief operating officer now directly owns 14,819 shares in the company, valued at approximately $1,212,935.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction on Friday, June 28th. The shares were sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the completion of the sale, the director now directly owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Merit Medical Systems

Several hedge funds have recently bought and sold shares of MMSI. Congress Asset Management Co. MA grew its position in Merit Medical Systems by 4,411.3% in the 1st quarter. Congress Asset Management Co. MA now owns 518,485 shares of the medical instruments supplier’s stock valued at $39,275,000 after purchasing an additional 506,992 shares during the period. Norges Bank acquired a new stake in Merit Medical Systems in the 4th quarter valued at $38,165,000. The Manufacturers Life Insurance Company grew its position 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 valued at $21,151,000 after purchasing an additional 248,140 shares during the period. Comerica Bank acquired a new stake in Merit Medical Systems in the 3rd quarter valued at $14,022,000. Finally, Westwood Holdings Group Inc. grew its position in Merit Medical Systems by 17.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock valued at $66,685,000 after purchasing an additional 131,977 shares during the period. Institutional investors and hedge funds own 99.66% 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.