Merit Medical Systems (MMSI) Set to Announce Quarterly Earnings on Wednesday

Merit Medical Systems (NASDAQ:MMSI) is scheduled to announce its earnings results after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.80 per share for the quarter. Merit Medical Systems has set its FY24 guidance at $3.27-3.35 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.04. The firm had revenue of $338.00 million for the quarter, compared to the consensus estimate of $334.94 million. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. 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 stock opened at $95.31 on Tuesday. The business’s fifty day moving average price is $96.11 and its 200 day moving average price is $87.26. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. Merit Medical Systems has a 12-month low of $65.46 and a 12-month high of $101.60. The company has a market capitalization of $5.54 billion, a PE ratio of 54.78, a P/E/G ratio of 2.41 and a beta of 0.87.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MMSI shares. Needham & Company LLC restated a “buy” rating and set a $105.00 price target on shares of Merit Medical Systems in a report on Monday, September 16th. Wells Fargo & Company increased their price objective on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price objective (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Bank of America upped their target price on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, Barrington Research reissued an “outperform” rating and issued a $114.00 target price on shares of Merit Medical Systems in a research report on Friday, October 18th. Two investment 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.82.

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.