Merit Medical Systems (NASDAQ:MMSI) Announces Earnings Results, Beats Expectations By $0.06 EPS

Merit Medical Systems (NASDAQ:MMSI) issued its earnings results on Wednesday. The medical instruments supplier reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06, Briefing.com reports. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. The firm had revenue of $339.85 million for the quarter, compared to the consensus estimate of $334.60 million. During the same quarter in the previous year, the company posted $0.75 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Merit Medical Systems updated its FY24 guidance to $3.33-$3.38 EPS.

Merit Medical Systems Stock Performance

NASDAQ MMSI traded up $4.40 during trading on Thursday, hitting $99.30. The company’s stock had a trading volume of 634,649 shares, compared to its average volume of 436,857. Merit Medical Systems has a 52 week low of $65.46 and a 52 week high of $101.60. The firm has a market cap of $5.77 billion, a P/E ratio of 57.10, a price-to-earnings-growth ratio of 2.41 and a beta of 0.87. The firm has a 50 day moving average price of $96.36 and a 200 day moving average price of $87.63. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62.

Analyst Ratings Changes

MMSI has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Needham & Company LLC restated a “buy” rating and set a $109.00 price target on shares of Merit Medical Systems in a research note on Thursday. Robert W. Baird lifted their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America upped their price objective on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Finally, StockNews.com raised Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.36.

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.