Merit Medical Systems (NASDAQ:MMSI) Releases FY 2024 Earnings Guidance

Merit Medical Systems (NASDAQ:MMSI) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 3.220-3.310 for the period, compared to the consensus EPS estimate of 3.330. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion.

Merit Medical Systems Stock Performance

Shares of NASDAQ:MMSI remained flat at $85.95 during mid-day trading on Monday. 108,385 shares of the company traded hands, compared to its average volume of 446,692. The company has a current ratio of 6.03, a quick ratio of 4.38 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $4.99 billion, a P/E ratio of 49.43, a PEG ratio of 2.40 and a beta of 0.88. Merit Medical Systems has a fifty-two week low of $62.58 and a fifty-two week high of $86.44. The firm’s 50-day simple moving average is $80.60 and its 200 day simple moving average is $77.65.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. The business had revenue of $323.51 million for the quarter, compared to analyst estimates of $315.57 million. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. Merit Medical Systems’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS. On average, equities research analysts predict that Merit Medical Systems will post 3.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on MMSI. Baird R W raised shares of Merit Medical Systems to a strong-buy rating in a research note on Friday. StockNews.com upgraded shares of Merit Medical Systems from a hold rating to a buy rating in a report on Thursday. Needham & Company LLC decreased their price target on shares of Merit Medical Systems from $88.00 to $85.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Robert W. Baird began coverage on shares of Merit Medical Systems in a research note on Friday. They set an outperform rating and a $96.00 price objective on the stock. Finally, Canaccord Genuity Group dropped their target price on shares of Merit Medical Systems from $112.00 to $102.00 and set a buy rating for the company in a report on Wednesday, May 1st. One research analyst has 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.com, the stock currently has an average rating of Buy and an average price target of $93.10.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 14,819 shares in the company, valued at $1,212,935.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is owned by insiders.

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.