Medical device company Merit Medical Systems (NASDAQ: MMSI) will be reporting results this Thursday after the bell. Here’s what you need to know.
Merit Medical Systems beat analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $382.5 million, up 13.2% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ full-year EPS guidance estimates and a beat of analysts’ EPS estimates.
Is Merit Medical Systems a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Merit Medical Systems’s revenue to grow 9.5% year on year to $372.1 million, improving from the 7.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.83 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Merit Medical Systems has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 1.7% on average.
Looking at Merit Medical Systems’s peers in the healthcare equipment and supplies segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Intuitive Surgical delivered year-on-year revenue growth of 22.9%, beating analysts’ expectations by 3%, and Neogen reported a revenue decline of 3.6%, topping estimates by 2.6%. Intuitive Surgical traded up 13.9% following the results while Neogen was also up 3.7%.
Read our full analysis of Intuitive Surgical’s results here and Neogen’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 6.1% on average over the last month. Merit Medical Systems is up 2.4% during the same time and is heading into earnings with an average analyst price target of $103.55 (compared to the current share price of $82.79).
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