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

Merit Medical Systems (NASDAQ:MMSI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 3.250-3.340 for the period, compared to the consensus estimate of 3.310. The company issued revenue guidance of $1.3 billion-$1.4 billion, compared to the consensus revenue estimate of $1.3 billion. Merit Medical Systems also updated its FY24 guidance to $3.25-$3.34 EPS.

Wall Street Analyst Weigh In

MMSI has been the topic of several recent analyst reports. Piper Sandler reissued an overweight rating and set a $110.00 price objective (up previously from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Baird R W raised Merit Medical Systems to a strong-buy rating in a research note on Friday, June 28th. Robert W. Baird began coverage on Merit Medical Systems in a report on Friday, June 28th. They set an outperform rating and a $96.00 price objective on the stock. Bank of America upped their target price on Merit Medical Systems from $92.00 to $103.00 and gave the company a neutral rating in a research note on Monday. Finally, Canaccord Genuity Group increased their target price on Merit Medical Systems from $102.00 to $125.00 and gave the stock a buy rating in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $100.55.

Merit Medical Systems Price Performance

MMSI stock opened at $98.51 on Wednesday. The company has a market cap of $5.72 billion, a PE ratio of 56.61, a price-to-earnings-growth 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 stock has a 50-day moving average price of $90.97 and a two-hundred day moving average price of $82.71. Merit Medical Systems has a 12-month low of $62.58 and a 12-month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $338.00 million during the quarter, compared to analysts’ expectations of $334.94 million. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. As a group, research analysts predict that Merit Medical Systems will post 3.31 EPS for the current year.

Insiders Place Their Bets

In other news, Director F. Ann Millner sold 12,500 shares of the firm’s 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 owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.70% of the stock is owned by 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.