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

Merit Medical Systems (NASDAQ:MMSI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $3.27-3.35 for the period, compared to the consensus EPS estimate of $3.29. The company issued revenue guidance of $1.335-1.345 billion, compared to the consensus revenue estimate of $1.33 billion.

Merit Medical Systems Stock Up 5.5 %

Shares of MMSI traded up $4.62 during mid-day trading on Friday, hitting $88.74. 1,093,252 shares of the company’s stock were exchanged, compared to its average volume of 430,224. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 51.00, a P/E/G ratio of 2.38 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 $90.60. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.38 and a current ratio of 6.03. The stock’s 50-day moving average is $84.15 and its 200-day moving average is $79.43.

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 the consensus estimate of $0.88 by $0.04. The firm had revenue of $338.00 million for the quarter, compared to analysts’ expectations of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.47%. On average, sell-side analysts anticipate that Merit Medical Systems will post 3.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MMSI has been the topic of several analyst reports. Robert W. Baird started coverage on shares of Merit Medical Systems in a report on Friday, June 28th. They issued an outperform rating and a $96.00 target price on the stock. Canaccord Genuity Group raised their price objective on shares of Merit Medical Systems from $102.00 to $125.00 and gave the stock a buy rating in a report on Tuesday, July 2nd. Barrington Research reissued an outperform rating and set a $100.00 price objective on shares of Merit Medical Systems in a report on Tuesday, July 16th. Needham & Company LLC raised their price objective on shares of Merit Medical Systems from $93.00 to $94.00 and gave the stock a buy rating in a report on Friday. Finally, CL King started coverage on shares of Merit Medical Systems in a report on Thursday, April 11th. They set a buy rating and a $88.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Merit Medical Systems currently has a consensus rating of Moderate Buy and a consensus target price of $96.60.

Insider Transactions at Merit Medical Systems

In related news, COO Neil Peterson sold 7,500 shares of Merit Medical Systems stock in a transaction on Monday, June 10th. The shares were sold at an average price of $81.85, for a total value of $613,875.00. Following the transaction, the chief operating officer now directly owns 14,819 shares in the company, valued at approximately $1,212,935.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction on Friday, June 28th. The shares were sold at an average price of $85.00, for a total value of $1,062,500.00. Following the transaction, the director now directly owns 32,391 shares in the company, valued at approximately $2,753,235. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Neil Peterson sold 7,500 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were 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 directly owns 14,819 shares of the company’s stock, valued at approximately $1,212,935.15. The disclosure for this sale can be found here. 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.