Merit Medical Systems (NASDAQ:MMSI – Get Free Report) released its earnings results on Thursday. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04, reports. The firm had revenue of $338.00 million during the quarter, compared to analyst estimates of $334.94 million. Merit Medical Systems had a return on equity of 15.47% and a net margin of 9.02%. Merit Medical Systems updated its FY24 guidance to $3.27-3.35 EPS.
Merit Medical Systems Stock Performance
Shares of MMSI opened at $88.74 on Friday. The company’s 50 day simple moving average is $84.15 and its 200 day simple moving average is $79.43. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 51.00, a PEG ratio of 2.38 and a beta of 0.88. Merit Medical Systems has a 1 year low of $62.58 and a 1 year high of $90.60. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.38 and a current ratio of 6.03.
Insider Buying and Selling at Merit Medical Systems
In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the sale, the director now directly owns 32,391 shares in the company, valued at approximately $2,753,235. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director F. Ann Millner sold 12,500 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the transaction, the director now owns 32,391 shares of the company’s stock, valued at $2,753,235. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Neil Peterson sold 7,500 shares of Merit Medical Systems stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $81.85, for a total value of $613,875.00. Following the completion of the transaction, the chief operating officer now owns 14,819 shares of the company’s stock, valued at $1,212,935.15. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Analysts Set New Price Targets
Several equities research analysts recently weighed in on MMSI shares. StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. Baird R W upgraded shares of Merit Medical Systems to a “strong-buy” rating in a report on Friday, June 28th. CL King assumed coverage on shares of Merit Medical Systems in a research note on Thursday, April 11th. They set a “buy” rating and a $88.00 price target on the stock. Needham & Company LLC upped their price objective on shares of Merit Medical Systems from $93.00 to $94.00 and gave the company a “buy” rating in a research note on Friday. Finally, Barrington Research reiterated an “outperform” rating and set a $100.00 target price on shares of Merit Medical Systems in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.60.
Check Out Our Latest Stock Analysis on Merit Medical Systems
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.
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