FY2023 Earnings Estimate for Merit Medical Systems, Inc. (NASDAQ:MMSI) Issued By Zacks Research

Posted by on Jun 26th, 2023

Merit Medical Systems, Inc. (NASDAQ:MMSI – Get Rating) – Research analysts at Zacks Research upped their FY2023 earnings estimates for shares of Merit Medical Systems in a research report issued on Thursday, June 22nd. Zacks Research analyst I. Bandyopadhyay now anticipates that the medical instruments supplier will post earnings of $2.87 per share for the year, up from their prior estimate of $2.85. The consensus estimate for Merit Medical Systems’ current full-year earnings is $2.89 per share. Zacks Research also issued estimates for Merit Medical Systems’ Q4 2023 earnings at $0.80 EPS, Q4 2024 earnings at $0.95 EPS, FY2024 earnings at $3.17 EPS and FY2025 earnings at $3.55 EPS.

A number of other research firms have also recently issued reports on MMSI. Needham & Company LLC increased their price target on Merit Medical Systems from $90.00 to $96.00 in a report on Friday, June 9th. Barrington Research lifted their price target on shares of Merit Medical Systems from $90.00 to $95.00 in a research note on Friday, June 9th. Piper Sandler upped their price objective on shares of Merit Medical Systems from $77.00 to $85.00 in a report on Thursday, April 27th. StockNews.com initiated coverage on Merit Medical Systems in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company upped their price target on Merit Medical Systems from $74.00 to $81.00 in a research note on Thursday, April 27th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Merit Medical Systems Trading Down 1.8 %

NASDAQ MMSI opened at $82.17 on Monday. The stock has a market capitalization of $4.72 billion, a P/E ratio of 55.52, a P/E/G ratio of 2.59 and a beta of 0.99. The business has a 50 day simple moving average of $82.24 and a 200 day simple moving average of $74.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.58 and a quick ratio of 1.24. Merit Medical Systems has a one year low of $50.46 and a one year high of $85.62.

Merit Medical Systems (NASDAQ:MMSI – Get Rating) last released its earnings results on Wednesday, April 26th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. Merit Medical Systems had a net margin of 7.22% and a return on equity of 14.55%. The business had revenue of $297.57 million for the quarter, compared to analyst estimates of $280.47 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. Merit Medical Systems’s revenue for the quarter was up 8.0% on a year-over-year basis.

Institutional Trading of Merit Medical Systems

Several institutional investors and hedge funds have recently modified their holdings of MMSI. MinichMacGregor Wealth Management LLC bought a new stake in Merit Medical Systems during the fourth quarter worth $26,000. Ronald Blue Trust Inc. boosted its holdings in Merit Medical Systems by 157.4% during the fourth quarter. Ronald Blue Trust Inc. now owns 471 shares of the medical instruments supplier’s stock worth $26,000 after purchasing an additional 288 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in Merit Medical Systems in the 4th quarter worth about $26,000. Belpointe Asset Management LLC lifted its position in shares of Merit Medical Systems by 53.8% during the 1st quarter. Belpointe Asset Management LLC now owns 500 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 175 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Merit Medical Systems in the 1st quarter worth approximately $43,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Company Profile

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Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. It operates in two segments, Cardiovascular and Endoscopy. The company provides peripheral intervention products for the diagnosis and treatment of diseases in peripheral vessels and organs; 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.

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Earnings History and Estimates for Merit Medical Systems (NASDAQ:MMSI)

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