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

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Stock analysts at Zacks Research cut their FY2024 earnings per share (EPS) estimates for Merit Medical Systems in a research report issued to clients and investors on Thursday, August 22nd. Zacks Research analyst I. Bandyopadhyay now expects that the medical instruments supplier will post earnings per share of $3.30 for the year, down from their previous forecast of $3.31. The consensus estimate for Merit Medical Systems’ current full-year earnings is $3.29 per share. Zacks Research also issued estimates for Merit Medical Systems’ Q4 2024 earnings at $0.82 EPS, Q1 2025 earnings at $0.80 EPS, Q2 2025 earnings at $0.96 EPS, Q4 2025 earnings at $0.88 EPS, Q1 2026 earnings at $0.80 EPS and Q2 2026 earnings at $1.09 EPS.

Other research analysts also recently issued reports about the company. Piper Sandler boosted their price target on Merit Medical Systems from $97.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Needham & Company LLC lifted their price objective on shares of Merit Medical Systems from $93.00 to $94.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barrington Research restated an “outperform” rating and set a $100.00 target price on shares of Merit Medical Systems in a research report on Tuesday, July 16th. Robert W. Baird began coverage on Merit Medical Systems in a report on Friday, June 28th. They issued an “outperform” rating and a $96.00 price target for the company. Finally, Bank of America raised their price objective on Merit Medical Systems from $87.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $97.10.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $93.29 on Monday. Merit Medical Systems has a fifty-two week low of $62.58 and a fifty-two week high of $93.50. 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 firm has a market capitalization of $5.42 billion, a P/E ratio of 53.61, a PEG ratio of 2.38 and a beta of 0.88. The stock has a 50-day simple moving average of $86.69 and a two-hundred day simple moving average of $80.65.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The firm had revenue of $338.00 million for the quarter, compared to analyst estimates of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.47%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Congress Asset Management Co. MA boosted its position in shares of Merit Medical Systems by 4,411.3% during the 1st 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 in the last quarter. Norges Bank purchased a new stake in Merit Medical Systems in the fourth quarter valued at $38,165,000. Point72 Asset Management L.P. increased its position in shares of Merit Medical Systems by 147.2% during the second quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock worth $54,545,000 after purchasing an additional 377,851 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of 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 last quarter. Finally, F M Investments LLC acquired a new position in Merit Medical Systems during the second quarter worth approximately $12,550,000. 99.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of Merit Medical Systems stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $81.85, for a total transaction of $613,875.00. Following the transaction, the chief operating officer now directly 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 through the SEC website. In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the transaction, the director now directly owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Neil Peterson sold 7,500 shares of the company’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 transaction 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 disclosure for this sale can be found here. 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.