Merit Medical Systems (NASDAQ:MMSI) Releases 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.

Merit Medical Systems Stock Performance

Shares of NASDAQ MMSI opened at $85.85 on Thursday. Merit Medical Systems has a one year low of $62.58 and a one year high of $87.44. The business’s 50-day moving average price is $81.33 and its two-hundred day moving average price is $77.91. The company has a debt-to-equity ratio of 0.65, a current ratio of 6.03 and a quick ratio of 4.38. The company has a market capitalization of $4.99 billion, a P/E ratio of 49.34, a price-to-earnings-growth ratio of 2.46 and a beta of 0.88.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Tuesday, April 30th. The medical instruments supplier reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $323.51 million for the quarter, compared to the consensus estimate of $315.57 million. Merit Medical Systems had a return on equity of 15.02% and a net margin of 7.94%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share. Analysts anticipate that Merit Medical Systems will post 3.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MMSI shares. Canaccord Genuity Group increased their target price 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. Piper Sandler increased their price objective on Merit Medical Systems from $95.00 to $97.00 and gave the company an overweight rating in a report on Wednesday, May 1st. Needham & Company LLC boosted their target price on Merit Medical Systems from $85.00 to $93.00 and gave the stock a buy rating in a report on Monday. StockNews.com upgraded Merit Medical Systems from a hold rating to a buy rating in a report on Thursday, June 27th. Finally, Barrington Research restated an outperform rating and issued a $100.00 price objective on shares of Merit Medical Systems in a research note on Tuesday. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $96.20.

Insider Activity at Merit Medical Systems

In related news, Director F. Ann Millner sold 12,500 shares of the business’s 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 transaction, the director now directly owns 32,391 shares in the company, valued at $2,753,235. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Neil Peterson sold 7,500 shares of Merit Medical Systems stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $81.85, for a total transaction of $613,875.00. Following the sale, the chief operating officer now directly owns 14,819 shares in the company, valued at approximately $1,212,935.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director F. Ann Millner sold 12,500 shares of the 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 completion of the transaction, the director now directly owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The disclosure for this sale can be found here. 3.70% of the stock is 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.