Merit Medical Systems (MMSI) to Release Earnings on Tuesday

Merit Medical Systems (NASDAQ:MMSI) is scheduled to be releasing 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.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, beating 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 company had revenue of $324.52 million for the quarter, compared to analyst estimates of $320.66 million. During the same period in the prior year, the company posted $0.79 EPS. The firm’s quarterly revenue 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 Trading Up 0.5 %

Shares of NASDAQ:MMSI opened at $73.78 on Friday. The business’s 50-day moving average is $74.52 and its 200 day moving average is $73.76. Merit Medical Systems has a 1 year low of $62.58 and a 1 year high of $85.62. The firm has a market capitalization of $4.28 billion, a P/E ratio of 45.54, a P/E/G ratio of 2.04 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.45 and a quick ratio of 3.95.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, Director Thomas James Gunderson sold 18,157 shares of the 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 transaction, the director now owns 19,257 shares in the company, valued at $1,464,109.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Merit Medical Systems news, Director Thomas James Gunderson sold 18,157 shares of the 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 transaction, the director now owns 19,257 shares in the company, valued at $1,464,109.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Raul Jr. Parra sold 6,480 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total value of $479,196.00. Following the completion of the transaction, the chief financial officer now owns 12,007 shares in the company, valued at approximately $887,917.65. The disclosure for this sale can be found here. Insiders have sold 49,637 shares of company stock worth $3,751,673 over the last quarter. 3.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MMSI has been the topic of a number of research reports. Oppenheimer increased their price objective on Merit Medical Systems from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Bank of America initiated coverage on Merit Medical Systems in a report on Wednesday, February 7th. They issued a “neutral” rating and a $87.00 price objective on the stock. Barrington Research reissued an “outperform” rating and issued a $98.00 price objective on shares of Merit Medical Systems in a report on Tuesday, April 16th. StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Canaccord Genuity Group increased their price objective on Merit Medical Systems from $102.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.78.

Merit Medical Systems Company Profile

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.