Merit Medical Systems (MMSI) Set to Announce Earnings on Tuesday

Merit Medical Systems (NASDAQ:MMSI) will be issuing 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.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.81 EPS 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 period in the previous year, the company posted $0.79 EPS. Merit Medical Systems’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 opened at $73.25 on Tuesday. The stock has a fifty day moving average price of $74.95 and a 200 day moving average price of $73.64. The company has a current ratio of 5.45, a quick ratio of 3.95 and a debt-to-equity ratio of 0.68. Merit Medical Systems has a 1 year low of $62.58 and a 1 year high of $85.62. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 45.22, a PEG ratio of 2.01 and a beta of 0.89.

Analyst Upgrades and Downgrades

MMSI has been the subject of several research reports. Raymond James lifted their price target on Merit Medical Systems from $84.00 to $89.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Canaccord Genuity Group increased their price target on shares of Merit Medical Systems from $102.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. CL King assumed coverage on shares of Merit Medical Systems in a research note on Thursday, April 11th. They issued a “buy” rating and a $88.00 price objective for the company. Finally, Piper Sandler increased their target price on shares of Merit Medical Systems from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, January 12th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Insider Buying and Selling

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 6,480 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total transaction of $479,196.00. Following the completion of the sale, the chief financial officer now directly owns 12,007 shares in the company, valued at $887,917.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Raul Jr. Parra sold 6,480 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now directly owns 12,007 shares of the company’s stock, valued at $887,917.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph Wright sold 25,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $75.68, for a total transaction of $1,892,000.00. Following the transaction, 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. Insiders have sold 49,637 shares of company stock worth $3,751,673 in the last quarter. 3.70% of the stock is currently owned by company 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.