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 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.

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock opened at $86.50 on Wednesday. The company has a quick ratio of 4.38, a current ratio of 6.03 and a debt-to-equity ratio of 0.65. The company has a market cap of $5.03 billion, a PE ratio of 49.71, a P/E/G ratio of 2.40 and a beta of 0.88. The business has a 50 day moving average of $81.10 and a 200 day moving average of $77.85. Merit Medical Systems has a 52 week low of $62.58 and a 52 week 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. The company had revenue of $323.51 million during the quarter, compared to the consensus estimate of $315.57 million. Merit Medical Systems had a return on equity of 15.02% and a net margin of 7.94%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. As a group, equities research analysts forecast that Merit Medical Systems will post 3.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MMSI shares. Baird R W upgraded Merit Medical Systems to a strong-buy rating in a report on Friday, June 28th. CL King started 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 reiterated an outperform rating and issued a $100.00 price objective on shares of Merit Medical Systems in a report on Tuesday. StockNews.com upgraded Merit Medical Systems from a hold rating to a buy rating in a report on Thursday, June 27th. Finally, Canaccord Genuity Group increased their price objective on Merit Medical Systems from $102.00 to $125.00 and gave the stock a buy rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $96.20.

Insider Activity at Merit Medical Systems

In related news, Director F. Ann Millner sold 12,500 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the sale, the director now directly owns 32,391 shares of the company’s stock, valued at $2,753,235. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of the firm’s 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 transaction, the chief operating officer now directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director F. Ann Millner sold 12,500 shares of the firm’s 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 disclosure for this sale can be found here. 3.70% of the stock is currently 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.