Merit Medical Systems, Inc. (NASDAQ:MMSI) – Piper Sandler dropped their Q2 2021 EPS estimates for shares of Merit Medical Systems in a report released on Thursday, April 29th. Piper Sandler analyst M. O’brien now forecasts that the medical instruments supplier will post earnings per share of $0.45 for the quarter, down from their previous forecast of $0.47. Piper Sandler also issued estimates for Merit Medical Systems’ Q3 2021 earnings at $0.45 EPS, Q4 2021 earnings at $0.52 EPS, Q3 2022 earnings at $0.56 EPS and Q1 2023 earnings at $0.67 EPS.
Several other brokerages have also weighed in on MMSI. Zacks Investment Research lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating and set a $59.00 price objective on the stock. in a report on Tuesday, January 12th. Needham & Company LLC lifted their price objective on Merit Medical Systems from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, April 30th. Raymond James upped their price target on Merit Medical Systems from $61.00 to $69.00 and gave the company an “outperform” rating in a research note on Friday, April 30th. Barrington Research upped their price objective on shares of Merit Medical Systems from $63.00 to $71.00 and gave the company an “outperform” rating in a research report on Friday, April 30th. Finally, Canaccord Genuity lifted their price objective on Merit Medical Systems from $55.00 to $71.00 and gave the company a “buy” rating in a report on Friday, February 26th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Merit Medical Systems has a consensus rating of “Buy” and an average price target of $66.11.
Shares of MMSI stock opened at $64.62 on Monday. The company has a quick ratio of 1.21, a current ratio of 2.34 and a debt-to-equity ratio of 0.37. Merit Medical Systems has a 12 month low of $37.47 and a 12 month high of $65.16. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of -121.92, a PEG ratio of 2.40 and a beta of 1.21. The stock has a 50-day moving average price of $60.41 and a 200 day moving average price of $56.30.
Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, April 29th. The medical instruments supplier reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.15. Merit Medical Systems had a negative net margin of 3.05% and a positive return on equity of 9.02%.
In related news, COO Ronald Frost sold 25,000 shares of the stock in a transaction on Friday, March 12th. The stock was sold at an average price of $59.58, for a total value of $1,489,500.00. Following the sale, the chief operating officer now owns 32,343 shares in the company, valued at approximately $1,926,995.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Raul Jr. Parra sold 1,000 shares of the firm’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $59.57, for a total value of $59,570.00. Following the sale, the chief financial officer now directly owns 3,343 shares of the company’s stock, valued at approximately $199,142.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,365 shares of company stock valued at $3,003,133. Insiders own 4.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Veriti Management LLC bought a new position in Merit Medical Systems in the 4th quarter valued at about $103,000. KBC Group NV acquired a new stake in Merit Medical Systems during the 4th quarter worth approximately $161,000. LS Investment Advisors LLC bought a new stake in Merit Medical Systems in the 4th quarter valued at $247,000. Teacher Retirement System of Texas bought a new stake in Merit Medical Systems in the 4th quarter valued at $253,000. Finally, Fox Run Management L.L.C. acquired a new position in Merit Medical Systems in the 4th quarter valued at $279,000. 99.47% of the stock is owned by institutional investors and hedge funds.
Merit Medical Systems Company Profile
Merit Medical Systems, Inc manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates in two segments, Cardiovascular and Endoscopy. It provides peripheral intervention products for the diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, fluid management, electrophysiology and cardiac rhythm management, and hemodynamic monitoring to treat various heart conditions.
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