Q1 2024 EPS Estimates for Merit Medical Systems, Inc. Boosted by Analyst (NASDAQ:MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) - Research analysts at Zacks Research raised their Q1 2024 earnings per share (EPS) estimates for shares of Merit Medical Systems in a report issued on Wednesday, March 20th. Zacks Research analyst I. Bandyopadhyay now expects that the medical instruments supplier will earn $0.70 per share for the quarter, up from their previous forecast of $0.64. The consensus estimate for Merit Medical Systems' current full-year earnings is $3.31 per share. Zacks Research also issued estimates for Merit Medical Systems' Q2 2024 earnings at $0.87 EPS, FY2024 earnings at $3.29 EPS, Q1 2025 earnings at $0.75 EPS, Q2 2025 earnings at $0.94 EPS, Q3 2025 earnings at $0.89 EPS and Q4 2025 earnings at $1.05 EPS.

MMSI has been the subject of a number of other research reports. StockNews.com raised shares of Merit Medical Systems from a "hold" rating to a "buy" rating in a report on Monday, March 4th. Canaccord Genuity Group raised shares of Merit Medical Systems from a "hold" rating to a "buy" rating and set a $100.00 price target for the company in a report on Thursday, December 21st. Canaccord Genuity Group increased their price target on shares of Merit Medical Systems from $102.00 to $112.00 and gave the company a "buy" rating in a report on Thursday, February 29th. Piper Sandler increased their price target on shares of Merit Medical Systems from $88.00 to $95.00 and gave the company an "overweight" rating in a report on Friday, January 12th. Finally, Bank of America assumed coverage on shares of Merit Medical Systems in a research note on Wednesday, February 7th. They issued a "neutral" rating and a $87.00 price objective for the company. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Merit Medical Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.00.

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock traded down $0.76 during trading on Friday, reaching $72.31. 304,600 shares of the stock traded hands, compared to its average volume of 552,933. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 44.64, a P/E/G ratio of 2.03 and a beta of 0.90. The business has a fifty day simple moving average of $77.52 and a two-hundred day simple moving average of $72.69. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.45 and a quick ratio of 3.95. Merit Medical Systems has a 52-week low of $62.58 and a 52-week high of $85.62.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.04. The firm had revenue of $324.52 million during the quarter, compared to analyst estimates of $320.66 million. Merit Medical Systems had a return on equity of 14.63% and a net margin of 7.51%. The business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 earnings per share.

Hedge Funds Weigh In On Merit Medical Systems

Several institutional investors have recently bought and sold shares of MMSI. Altshuler Shaham Ltd purchased a new position in Merit Medical Systems during the fourth quarter valued at approximately $26,000. State of Wyoming purchased a new position in Merit Medical Systems in the second quarter worth $28,000. Valued Wealth Advisors LLC purchased a new position in Merit Medical Systems in the fourth quarter worth $29,000. Parallel Advisors LLC grew its holdings in Merit Medical Systems by 114.6% in the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier's stock worth $30,000 after purchasing an additional 212 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its holdings in Merit Medical Systems by 53.8% in the first quarter. Belpointe Asset Management LLC now owns 500 shares of the medical instruments supplier's stock worth $37,000 after purchasing an additional 175 shares during the last quarter. 93.16% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Raul Jr. Parra sold 6,480 shares of Merit Medical Systems stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total transaction of $479,196.00. Following the completion of the sale, the chief financial officer now owns 12,007 shares of the company's stock, valued at $887,917.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Raul Jr. Parra sold 6,480 shares of Merit Medical Systems stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total transaction of $479,196.00. Following the completion of the sale, the chief financial officer now owns 12,007 shares of the company's stock, valued at $887,917.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director F. Ann Millner sold 20,000 shares of Merit Medical Systems stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $80.00, for a total transaction of $1,600,000.00. Following the sale, the director now directly owns 29,960 shares of the company's stock, valued at approximately $2,396,800. The disclosure for this sale can be found here. Insiders sold a total of 69,637 shares of company stock valued at $5,351,673 over the last 90 days. 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.