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 decreased their Q3 2024 earnings per share (EPS) estimates for Merit Medical Systems in a research report issued to clients and investors on Tuesday, July 2nd. Barrington Research analyst M. Petusky now forecasts that the medical instruments supplier will earn $0.78 per share for the quarter, down from their prior forecast of $0.82. 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 $3.27 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.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results 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. Merit Medical Systems had a return on equity of 15.02% and a net margin of 7.94%. The company had revenue of $323.51 million for the quarter, compared to analysts’ expectations of $315.57 million. During the same period in the prior year, the firm earned $0.64 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year.

A number of other research analysts have also recently commented on the company. Baird R W upgraded Merit Medical Systems to a “strong-buy” rating in a research note on Friday, June 28th. StockNews.com upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Needham & Company LLC increased their price objective on Merit Medical Systems from $85.00 to $93.00 and gave the company a “buy” rating in a research note on Monday. Robert W. Baird began 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, Piper Sandler increased their price objective on Merit Medical Systems from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Merit Medical Systems presently has a consensus rating of “Buy” and an average target price of $96.20.

Merit Medical Systems Stock Down 0.8 %

NASDAQ:MMSI opened at $85.85 on Thursday. The company has a quick ratio of 4.38, a current ratio of 6.03 and a debt-to-equity ratio of 0.65. The stock’s fifty day moving average is $81.33 and its two-hundred day moving average is $77.91. Merit Medical Systems has a 52 week low of $62.58 and a 52 week high of $87.44. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 49.34, a price-to-earnings-growth ratio of 2.46 and a beta of 0.88.

Insider Buying and Selling 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 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 sale, the chief operating officer now directly owns 14,819 shares in the company, valued at $1,212,935.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the transaction, the director now owns 32,391 shares of the company’s stock, valued at $2,753,235. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Neil Peterson sold 7,500 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Merit Medical Systems

Hedge funds have recently made changes to their positions in the company. Valued Wealth Advisors LLC purchased a new position in shares of Merit Medical Systems during the fourth quarter worth about $29,000. Parallel Advisors LLC increased its position in Merit Medical Systems by 114.6% in the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 212 shares during the period. Tompkins Financial Corp acquired a new position in Merit Medical Systems in the 4th quarter valued at about $38,000. DekaBank Deutsche Girozentrale acquired a new position in Merit Medical Systems in the 1st quarter valued at about $44,000. Finally, Headlands Technologies LLC acquired a new position in Merit Medical Systems in the 1st quarter valued at about $50,000. Hedge funds and other 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.