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

Merit Medical Systems (NASDAQ:MMSI) issued an update on its FY 2024 earnings guidance on Monday morning. 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 Price Performance

Shares of NASDAQ:MMSI opened at $86.50 on Wednesday. The business’s fifty day moving average price is $81.10 and its two-hundred day moving average price is $77.85. The stock has a market cap of $5.03 billion, a PE ratio of 49.71, a price-to-earnings-growth ratio of 2.40 and a beta of 0.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.38 and a current ratio of 6.03. Merit Medical Systems has a one year low of $62.58 and a one year high of $87.44.

Merit Medical Systems (NASDAQ:MMSI) last announced its 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. Merit Medical Systems had a return on equity of 15.02% and a net margin of 7.94%. The firm had revenue of $323.51 million for the quarter, compared to analysts’ expectations of $315.57 million. During the same quarter in the prior year, the firm earned $0.64 EPS. Merit Medical Systems’s quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts forecast that Merit Medical Systems will post 3.27 EPS for the current fiscal year.

Analysts Set New Price Targets

MMSI has been the topic of a number of recent analyst reports. Baird R W raised Merit Medical Systems to a strong-buy rating in a research note on Friday, June 28th. Needham & Company LLC raised their price objective on Merit Medical Systems from $85.00 to $93.00 and gave the company a buy rating in a research report on Monday. Barrington Research reissued an outperform rating and issued a $100.00 price objective on shares of Merit Medical Systems in a research report on Tuesday. Robert W. Baird began coverage on Merit Medical Systems in a research report on Friday, June 28th. They issued an outperform rating and a $96.00 price objective on the stock. Finally, CL King began coverage on Merit Medical Systems in a research note on Thursday, April 11th. They set a buy rating and a $88.00 target price for the company. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Merit Medical Systems has an average rating of Buy and a consensus target price of $96.20.

Insider Buying and Selling

In related news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the transaction, the director now directly owns 32,391 shares in the company, valued at $2,753,235. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Neil Peterson sold 7,500 shares of Merit Medical Systems stock in a transaction dated 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 directly owns 14,819 shares in the company, valued at $1,212,935.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the transaction, the director now owns 32,391 shares of the company’s stock, valued at $2,753,235. 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.