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

Merit Medical Systems (NASDAQ:MMSI) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $3.25-$3.34 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an equal weight rating in a report on Monday. Barrington Research reaffirmed an outperform rating and set a $100.00 price target on shares of Merit Medical Systems in a report on Tuesday, July 16th. Bank of America boosted their price objective on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a neutral rating in a research note on Monday. StockNews.com cut shares of Merit Medical Systems from a buy rating to a hold rating in a research note on Wednesday. Finally, Robert W. Baird assumed coverage on shares of Merit Medical Systems in a research report on Friday, June 28th. They issued an outperform rating and a $96.00 price objective for the company. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $100.55.

Merit Medical Systems Price Performance

MMSI stock opened at $100.23 on Friday. The company has a market cap of $5.82 billion, a PE ratio of 57.60, a price-to-earnings-growth ratio of 2.53 and a beta of 0.87. Merit Medical Systems has a 12-month low of $62.58 and a 12-month high of $101.25. 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 stock has a 50-day moving average price of $91.46 and a two-hundred day moving average price of $82.94.

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

Insider Buying and Selling at Merit Medical Systems

In related news, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 32,391 shares in the company, valued at approximately $2,753,235. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is currently owned by corporate 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.