FY2024 EPS Estimates for MMSI Raised by Barrington Research

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Research analysts at Barrington Research raised their FY2024 earnings per share estimates for shares of Merit Medical Systems in a research note issued to investors on Thursday, October 31st. Barrington Research analyst M. Petusky now anticipates that the medical instruments supplier will post earnings per share of $3.35 for the year, up from their previous estimate of $3.32. Barrington Research has a “Outperform” rating and a $114.00 price target on the stock. The consensus estimate for Merit Medical Systems’ current full-year earnings is $3.30 per share. Barrington Research also issued estimates for Merit Medical Systems’ Q4 2024 earnings at $0.81 EPS and Q1 2025 earnings at $0.88 EPS.

MMSI has been the topic of a number of other research reports. Bank of America raised their price objective on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Needham & Company LLC restated a “buy” rating and set a $109.00 price objective on shares of Merit Medical Systems in a research note on Thursday. Wells Fargo & Company raised their price objective on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Robert W. Baird lifted their price target on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, StockNews.com upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.36.

Merit Medical Systems Price Performance

Merit Medical Systems stock opened at $98.80 on Friday. The stock’s fifty day moving average price is $96.60 and its two-hundred day moving average price is $87.89. Merit Medical Systems has a one year low of $65.46 and a one year high of $101.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64. The firm has a market cap of $5.75 billion, a PE ratio of 48.43, a price-to-earnings-growth ratio of 2.39 and a beta of 0.87.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Merit Medical Systems had a return on equity of 15.86% and a net margin of 9.05%. The firm had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. During the same quarter last year, the company earned $0.75 EPS. The company’s revenue was up 7.8% on a year-over-year basis.

Institutional Investors Weigh In On Merit Medical Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norden Group LLC acquired a new position in Merit Medical Systems during the 1st quarter worth about $293,000. Sequoia Financial Advisors LLC acquired a new position in Merit Medical Systems during the 1st quarter worth about $336,000. BNP Paribas Financial Markets lifted its holdings in Merit Medical Systems by 55.3% during the 1st quarter. BNP Paribas Financial Markets now owns 52,953 shares of the medical instruments supplier’s stock worth $4,011,000 after buying an additional 18,863 shares during the period. Fidelis Capital Partners LLC acquired a new position in Merit Medical Systems during the 1st quarter worth about $90,000. Finally, FORA Capital LLC acquired a new position in Merit Medical Systems during the 1st quarter worth about $577,000. Institutional investors 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.