Merit Medical Systems (NASDAQ:MMSI) Issues Earnings Results

by · The Cerbat Gem

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

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock traded up $3.76 during trading hours on Thursday, reaching $98.66. The stock had a trading volume of 915,705 shares, compared to its average volume of 438,189. Merit Medical Systems has a twelve month low of $65.46 and a twelve month high of $101.60. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average is $96.36 and its 200 day moving average is $87.63. The firm has a market capitalization of $5.73 billion, a PE ratio of 57.10, a PEG ratio of 2.41 and a beta of 0.87.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barrington Research reiterated an “outperform” rating and issued a $114.00 price target on shares of Merit Medical Systems in a research note on Thursday. Bank of America increased their price target on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Wells Fargo & Company increased their price objective on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. StockNews.com raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Finally, Robert W. Baird increased their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.36.

View Our Latest Stock Analysis on Merit Medical Systems

About Merit Medical Systems

(Get Free Report)

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.

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