FY2024 EPS Estimates for MMSI Lifted by Barrington Research

Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) - Equities research analysts at Barrington Research raised their FY2024 EPS estimates for Merit Medical Systems in a report issued on Thursday, October 31st. Barrington Research analyst M. Petusky now expects that the medical instruments supplier will earn $3.35 per share for the year, up from their prior forecast 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.

A number of other research firms have also recently issued reports on MMSI. Wells Fargo & Company raised their price target on shares of Merit Medical Systems from $85.00 to $103.00 and gave the stock an "equal weight" rating in a report on Monday, September 16th. Robert W. Baird raised their price target on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an "outperform" rating in a report on Thursday. StockNews.com raised shares of Merit Medical Systems from a "hold" rating to a "buy" rating in a report on Saturday, October 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $109.00 price target on shares of Merit Medical Systems in a report on Thursday. Finally, Piper Sandler reiterated an "overweight" rating and issued a $110.00 price objective (up previously from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Two equities 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's stock. According to MarketBeat.com, Merit Medical Systems currently has an average rating of "Moderate Buy" and an average target price of $103.36.

Merit Medical Systems Stock Performance

Shares of NASDAQ MMSI traded up $0.14 during midday trading on Friday, reaching $98.80. The company had a trading volume of 392,724 shares, compared to its average volume of 437,975. The business's 50-day simple moving average is $96.49 and its 200 day simple moving average is $87.70. The stock has a market cap of $5.75 billion, a P/E ratio of 48.78, a P/E/G ratio of 2.39 and a beta of 0.87. Merit Medical Systems has a 1 year low of $65.46 and a 1 year high of $101.60. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.86%. The company had revenue of $339.85 million during the quarter, compared to analysts' expectations of $334.60 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. Merit Medical Systems's revenue for the quarter was up 7.8% compared to the same quarter last year.

Institutional Trading of Merit Medical Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MMSI. William Blair Investment Management LLC grew its position in shares of Merit Medical Systems by 0.3% in the second quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier's stock valued at $262,445,000 after purchasing an additional 10,512 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of Merit Medical Systems by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier's stock valued at $226,236,000 after purchasing an additional 38,780 shares during the period. Westwood Holdings Group Inc. grew its position in shares of Merit Medical Systems by 17.6% in the first quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier's stock valued at $66,685,000 after purchasing an additional 131,977 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Merit Medical Systems by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier's stock valued at $63,543,000 after purchasing an additional 22,077 shares during the period. Finally, Point72 Asset Management L.P. grew its position in shares of Merit Medical Systems by 147.2% in the second quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier's stock valued at $54,545,000 after purchasing an additional 377,851 shares during the period. Institutional investors and hedge funds 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.