Merit Medical Systems (NASDAQ:MMSI) Posts 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, topping analysts’ consensus estimates of $0.80 by $0.06, Briefing.com reports. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.86%. The company had revenue of $339.85 million for the quarter, compared to analysts’ expectations of $334.60 million. During the same quarter last year, the company earned $0.75 EPS. The firm’s 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 Trading Up 0.2 %

NASDAQ MMSI traded up $0.17 during trading on Friday, hitting $98.83. The stock had a trading volume of 107,472 shares, compared to its average volume of 436,629. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24. The stock has a 50 day simple moving average of $96.49 and a 200 day simple moving average of $87.70. Merit Medical Systems has a one year low of $65.46 and a one year high of $101.60. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 48.78, a P/E/G ratio of 2.39 and a beta of 0.87.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MMSI shares. Bank of America boosted their target price on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Robert W. Baird raised 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. Wells Fargo & Company upped their target price on shares of Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Piper Sandler reissued an “overweight” rating and set a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Finally, StockNews.com raised Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock 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.