Merit Medical Systems (NASDAQ:MMSI) Releases FY24 Earnings Guidance

Merit Medical Systems (NASDAQ:MMSI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.25-$3.34 for the period, compared to the consensus earnings per share estimate of $3.31. The company issued revenue guidance of $1.339-$1.351 billion, compared to the consensus revenue estimate of $1.34 billion. Merit Medical Systems also updated its FY 2024 guidance to 3.250-3.340 EPS.

Analyst Ratings Changes

MMSI has been the subject of a number of analyst reports. Barrington Research reiterated an outperform rating and issued a $100.00 price target on shares of Merit Medical Systems in a research report on Tuesday, July 16th. Bank of America lifted their price objective on Merit Medical Systems from $92.00 to $103.00 and gave the company a neutral rating in a report on Monday. Piper Sandler reissued an overweight rating and set a $110.00 target price (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Needham & Company LLC restated a buy rating and issued a $105.00 price target on shares of Merit Medical Systems in a research report on Monday. Finally, Canaccord Genuity Group upped their price objective on shares of Merit Medical Systems from $102.00 to $125.00 and gave the stock a buy rating in a research report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Merit Medical Systems has a consensus rating of Moderate Buy and a consensus target price of $100.55.

Merit Medical Systems Trading Up 0.2 %

MMSI opened at $98.71 on Thursday. The company has a market cap of $5.74 billion, a P/E ratio of 56.73, a PEG ratio of 2.53 and a beta of 0.87. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $91.20 and its 200-day moving average is $82.82. Merit Medical Systems has a 1-year low of $62.58 and a 1-year high of $100.32.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The firm had revenue of $338.00 million for the quarter, compared to analyst estimates of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. Equities research analysts predict that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction dated 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 of the company’s stock, valued at $2,753,235. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.70% of the company’s stock.

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.