Merit Medical Systems (NASDAQ:MMSI) Releases 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 Price Performance

Shares of MMSI stock traded down $1.17 during trading hours on Thursday, reaching $84.12. The company had a trading volume of 518,963 shares, compared to its average volume of 445,893. Merit Medical Systems has a 12-month low of $62.58 and a 12-month high of $88.85. 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 has a fifty day moving average of $83.95 and a 200-day moving average of $79.32. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 49.02, a PEG ratio of 2.40 and a beta of 0.88.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. The business had revenue of $323.51 million for the quarter, compared to analyst estimates of $315.57 million. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. On average, equities analysts anticipate that Merit Medical Systems will post 3.29 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Piper Sandler raised their price objective on Merit Medical Systems from $95.00 to $97.00 and gave the company an overweight rating in a research note on Wednesday, May 1st. Robert W. Baird assumed coverage on shares of Merit Medical Systems in a report on Friday, June 28th. They issued an outperform rating and a $96.00 price objective on the stock. CL King assumed coverage on Merit Medical Systems in a report on Thursday, April 11th. They issued a buy rating and a $88.00 price objective for the company. Barrington Research reissued an outperform rating and issued a $100.00 target price on shares of Merit Medical Systems in a report on Tuesday, July 16th. Finally, Baird R W raised Merit Medical Systems to a strong-buy rating in a report on Friday, June 28th. Two equities 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, Merit Medical Systems has a consensus rating of Moderate Buy and a consensus price target of $96.20.

Insiders Place Their Bets

In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of the company’s 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 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 filing with the SEC, which is accessible through the SEC website. In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of Merit Medical Systems stock in a transaction that occurred 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 owns 14,819 shares of the company’s stock, valued at $1,212,935.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 32,391 shares in the company, valued at approximately $2,753,235. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

About Merit Medical Systems

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.