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

Merit Medical Systems (NASDAQ:MMSI) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 3.220-3.310 for the period, compared to the consensus 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.

Analyst Ratings Changes

A number of research analysts recently weighed in on MMSI shares. Piper Sandler raised their price target on shares of Merit Medical Systems from $95.00 to $97.00 and gave the company an overweight rating in a research report on Wednesday, May 1st. Robert W. Baird began coverage on Merit Medical Systems in a research note on Friday. They issued an outperform rating and a $96.00 target price on the stock. Baird R W raised Merit Medical Systems to a strong-buy rating in a research report on Friday. CL King began coverage on Merit Medical Systems in a research report on Thursday, April 11th. They issued a buy rating and a $88.00 price objective on the stock. Finally, Needham & Company LLC raised their target price on Merit Medical Systems from $85.00 to $93.00 and gave the company a buy rating in a research report on Monday. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $93.90.

Merit Medical Systems Stock Down 0.4 %

Shares of NASDAQ MMSI opened at $85.64 on Tuesday. The business’s fifty day moving average price is $80.85 and its 200-day moving average price is $77.75. Merit Medical Systems has a one year low of $62.58 and a one year high of $86.44. The stock has a market capitalization of $4.98 billion, a PE ratio of 49.22, a P/E/G ratio of 2.40 and a beta of 0.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 6.03 and a quick ratio of 4.38.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The firm had revenue of $323.51 million during the quarter, compared to analyst estimates of $315.57 million. During the same quarter last year, the business earned $0.64 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts anticipate that Merit Medical Systems will post 3.33 EPS for the current year.

Insider Buying and Selling at Merit Medical Systems

In other news, COO Neil Peterson sold 7,500 shares of Merit Medical Systems stock in a transaction on 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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.