FY2024 EPS Estimates for MMSI Raised by Barrington Research

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Equities research analysts at Barrington Research increased their FY2024 earnings per share estimates for shares of Merit Medical Systems in a report released on Thursday, October 31st. Barrington Research analyst M. Petusky now anticipates that the medical instruments supplier will earn $3.35 per share for the year, up from their prior 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.

Merit Medical Systems (NASDAQ:MMSI) last issued 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. The firm had revenue of $339.85 million during the quarter, compared to analyst estimates of $334.60 million. Merit Medical Systems had a return on equity of 15.86% and a net margin of 9.05%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 EPS.

MMSI has been the subject of several other reports. Robert W. Baird upped their target price on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday. Bank of America upped their target price on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Wells Fargo & Company upped their target price on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Finally, StockNews.com upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.36.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $98.80 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24. The stock has a 50 day moving average price of $96.60 and a two-hundred day moving average price of $87.89. The firm has a market capitalization of $5.75 billion, a P/E ratio of 48.43, a P/E/G ratio of 2.39 and a beta of 0.87. Merit Medical Systems has a 52 week low of $65.46 and a 52 week high of $101.60.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Merit Medical Systems in the second quarter valued at $29,000. DekaBank Deutsche Girozentrale bought a new position in Merit Medical Systems in the first quarter valued at $44,000. USA Financial Formulas bought a new position in Merit Medical Systems in the third quarter valued at $59,000. Headlands Technologies LLC bought a new position in Merit Medical Systems in the first quarter valued at $50,000. Finally, GAMMA Investing LLC increased its stake in Merit Medical Systems by 142.3% in the second quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier’s stock valued at $71,000 after acquiring an additional 488 shares during the last quarter. 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.