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

Merit Medical Systems (NASDAQ:MMSI) updated its FY 2024 earnings guidance on Monday. 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.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MMSI. StockNews.com raised Merit Medical Systems from a hold rating to a buy rating in a research note on Thursday. Baird R W raised Merit Medical Systems to a strong-buy rating in a research report on Friday. Needham & Company LLC lowered their target price on Merit Medical Systems from $88.00 to $85.00 and set a buy rating on the stock in a research report on Wednesday, May 1st. Robert W. Baird began coverage on Merit Medical Systems in a research report on Friday. They set an outperform rating and a $96.00 target price on the stock. Finally, CL King began coverage on Merit Medical Systems in a research report on Thursday, April 11th. They set a buy rating and a $88.00 target price on the stock. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Merit Medical Systems presently has an average rating of Buy and an average target price of $93.10.

Merit Medical Systems Stock Up 0.1 %

NASDAQ MMSI traded up $0.08 on Monday, reaching $86.03. The company had a trading volume of 117,349 shares, compared to its average volume of 446,838. The stock has a market capitalization of $5.00 billion, a P/E ratio of 49.40, a P/E/G ratio of 2.40 and a beta of 0.88. The company’s fifty day moving average is $80.60 and its 200 day moving average is $77.65. Merit Medical Systems has a 52-week low of $62.58 and a 52-week high of $86.44. The company has a quick ratio of 4.38, a current ratio of 6.03 and a debt-to-equity ratio of 0.65.

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

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now owns 14,819 shares in the company, valued at approximately $1,212,935.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.