Merit Medical Systems (MMSI) Scheduled to Post Quarterly Earnings on Tuesday

Merit Medical Systems (NASDAQ:MMSI) is set to release its earnings data after the market closes on Tuesday, April 30th. Analysts expect Merit Medical Systems to post earnings of $0.70 per share for the quarter. Merit Medical Systems has set its FY24 guidance at $3.28-$3.35 EPS and its FY 2024 guidance at 3.280-3.350 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.04. Merit Medical Systems had a net margin of 7.51% and a return on equity of 14.63%. The business had revenue of $324.52 million for the quarter, compared to analysts’ expectations of $320.66 million. During the same quarter last year, the firm earned $0.79 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, analysts expect Merit Medical Systems to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Merit Medical Systems Stock Up 0.5 %

MMSI stock opened at $73.78 on Monday. The firm has a market capitalization of $4.28 billion, a PE ratio of 45.54, a P/E/G ratio of 2.06 and a beta of 0.89. The company has a quick ratio of 3.95, a current ratio of 5.45 and a debt-to-equity ratio of 0.68. Merit Medical Systems has a twelve month low of $62.58 and a twelve month high of $85.62. The stock’s 50 day moving average is $74.52 and its 200-day moving average is $73.82.

Wall Street Analysts Forecast Growth

MMSI has been the topic of several research analyst reports. CL King initiated coverage on Merit Medical Systems in a research report on Thursday, April 11th. They issued a “buy” rating and a $88.00 price objective on the stock. Canaccord Genuity Group raised their price objective on shares of Merit Medical Systems from $102.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Needham & Company LLC reiterated a “buy” rating and issued a $88.00 target price on shares of Merit Medical Systems in a research note on Thursday, April 11th. Barrington Research restated an “outperform” rating and set a $98.00 price target on shares of Merit Medical Systems in a research note on Tuesday, April 16th. Finally, Bank of America started coverage on Merit Medical Systems in a research note on Wednesday, February 7th. They issued a “neutral” rating and a $87.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Merit Medical Systems has a consensus rating of “Moderate Buy” and an average target price of $93.78.

Insider Activity at Merit Medical Systems

In related news, Director Thomas James Gunderson sold 18,157 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $76.03, for a total transaction of $1,380,476.71. Following the transaction, the director now directly owns 19,257 shares of the company’s stock, valued at approximately $1,464,109.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Merit Medical Systems news, Director Thomas James Gunderson sold 18,157 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $76.03, for a total transaction of $1,380,476.71. Following the completion of the sale, the director now directly owns 19,257 shares in the company, valued at $1,464,109.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joseph Wright sold 25,000 shares of Merit Medical Systems stock in a transaction dated 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 completion of the transaction, the insider now owns 42,223 shares in the company, valued at approximately $3,195,436.64. The disclosure for this sale can be found here. Insiders have sold a total of 49,637 shares of company stock valued at $3,751,673 over the last 90 days. 3.70% of the stock is owned by insiders.

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.