Merit Medical Systems (MMSI) to Release Earnings on Tuesday

Merit Medical Systems (NASDAQ:MMSI) will issue its quarterly earnings data after the market closes on Tuesday, April 30th. Analysts expect the company to announce 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.Parties interested in participating in the company’s conference call can do so using this link.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.04. Merit Medical Systems had a return on equity of 14.63% and a net margin of 7.51%. 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 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. 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 Price Performance

MMSI stock opened at $73.78 on Friday. Merit Medical Systems has a 52-week low of $62.58 and a 52-week high of $85.62. The stock’s fifty day simple moving average is $74.52 and its 200-day simple moving average is $73.76. The company has a quick ratio of 3.95, a current ratio of 5.45 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 45.54, a price-to-earnings-growth ratio of 2.04 and a beta of 0.89.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Oppenheimer increased their target price on Merit Medical Systems from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Barrington Research restated an “outperform” rating and set a $98.00 target price on shares of Merit Medical Systems in a research note on Tuesday, April 16th. CL King assumed coverage on Merit Medical Systems in a research note on Thursday, April 11th. They set a “buy” rating and a $88.00 target price for the company. StockNews.com downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Bank of America began coverage on Merit Medical Systems in a research note on Wednesday, February 7th. They issued a “neutral” rating and a $87.00 price target for the company. Two equities research 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.78.

Insider Activity

In other news, Director Thomas James Gunderson sold 18,157 shares of Merit Medical Systems stock in a transaction that occurred on 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 sale, the director now owns 19,257 shares of the company’s stock, valued at $1,464,109.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Thomas James Gunderson sold 18,157 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 19,257 shares of the company’s stock, valued at $1,464,109.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph Wright sold 25,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 42,223 shares in the company, valued at approximately $3,195,436.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,637 shares of company stock valued at $3,751,673. Insiders own 3.70% 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.