Barrington Research Comments on Merit Medical Systems, Inc.’s Q2 2024 Earnings (NASDAQ:MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Equities research analysts at Barrington Research reduced their Q2 2024 earnings per share (EPS) estimates for shares of Merit Medical Systems in a report issued on Wednesday, May 1st. Barrington Research analyst M. Petusky now anticipates that the medical instruments supplier will earn $0.88 per share for the quarter, down from their previous forecast of $0.90. Barrington Research currently 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 $3.33 per share.

A number of other brokerages have also recently issued reports on MMSI. Piper Sandler upped their target price on Merit Medical Systems from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Oppenheimer increased their price target on Merit Medical Systems from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Bank of America began coverage on Merit Medical Systems in a research note on Wednesday, February 7th. They issued a “neutral” rating and a $87.00 price target for the company. Needham & Company LLC decreased their target price on Merit Medical Systems from $88.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, CL King began coverage on Merit Medical Systems in a research note on Thursday, April 11th. They set a “buy” rating and a $88.00 target price for the company. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.78.

Merit Medical Systems Price Performance

Shares of MMSI opened at $80.44 on Monday. Merit Medical Systems has a 12-month low of $62.58 and a 12-month high of $85.62. The business has a 50-day simple moving average of $74.18 and a two-hundred day simple moving average of $74.43. 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 has a market cap of $4.67 billion, a PE ratio of 46.23, a PEG ratio of 2.20 and a beta of 0.91.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share (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 business had revenue of $323.51 million during the quarter, compared to analysts’ expectations of $315.57 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year.

Insiders Place Their Bets

In other Merit Medical Systems news, Director Thomas James Gunderson sold 18,157 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $76.03, for a total value of $1,380,476.71. Following the transaction, the director now owns 19,257 shares in the company, valued at $1,464,109.71. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Joseph Wright sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $75.68, for a total value of $1,892,000.00. Following the transaction, the insider now owns 42,223 shares in the company, valued at $3,195,436.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas James Gunderson sold 18,157 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $76.03, for a total value of $1,380,476.71. Following the completion of the transaction, the director now owns 19,257 shares in the company, valued at approximately $1,464,109.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,637 shares of company stock worth $3,751,673. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Merit Medical Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Valued Wealth Advisors LLC purchased a new stake in shares of Merit Medical Systems during the fourth quarter valued at approximately $29,000. Parallel Advisors LLC increased its position in shares of Merit Medical Systems by 114.6% during the fourth 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 last quarter. Tompkins Financial Corp purchased a new stake in shares of Merit Medical Systems during the fourth quarter valued at approximately $38,000. Headlands Technologies LLC purchased a new stake in shares of Merit Medical Systems during the third quarter valued at approximately $41,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Merit Medical Systems in the third quarter valued at approximately $67,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Company Profile

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.