Merit Medical Systems (NASDAQ:MMSI) Releases FY24 Earnings Guidance

Merit Medical Systems (NASDAQ:MMSI) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.27-3.35 for the period, compared to the consensus 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.

Analyst Ratings Changes

MMSI has been the topic of a number of research analyst reports. Barrington Research reissued an outperform rating and set a $100.00 price objective on shares of Merit Medical Systems in a report on Tuesday, July 16th. CL King started coverage on shares of Merit Medical Systems in a report on Thursday, April 11th. They set a buy rating and a $88.00 price objective on the stock. Robert W. Baird started coverage on shares of Merit Medical Systems in a research note on Friday, June 28th. They issued an outperform rating and a $96.00 target price on the stock. StockNews.com lowered shares of Merit Medical Systems from a buy rating to a hold rating in a research note on Friday, July 5th. Finally, Piper Sandler raised their target price on shares of Merit Medical Systems from $97.00 to $100.00 and gave the company an overweight rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Merit Medical Systems currently has a consensus rating of Moderate Buy and an average price target of $96.60.

Merit Medical Systems Stock Performance

MMSI stock traded up $4.62 during midday trading on Friday, reaching $88.74. 1,093,252 shares of the company were exchanged, compared to its average volume of 430,224. The company has a debt-to-equity ratio of 0.65, a current ratio of 6.03 and a quick ratio of 4.38. The business has a 50-day moving average price of $84.15 and a two-hundred day moving average price of $79.43. Merit Medical Systems has a one year low of $62.58 and a one year high of $90.60. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 51.00, a price-to-earnings-growth ratio of 2.38 and a beta of 0.88.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.47%. The firm had revenue of $338.00 million during the quarter, compared to analysts’ expectations of $334.94 million. Equities research analysts forecast that Merit Medical Systems will post 3.29 EPS for the current year.

Insider Transactions at Merit Medical Systems

In related news, COO Neil Peterson sold 7,500 shares of the company’s stock in a transaction that occurred 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 sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 32,391 shares in the company, valued at approximately $2,753,235. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Neil Peterson sold 7,500 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 14,819 shares in the company, valued at $1,212,935.15. The disclosure for this sale can be found here. Company 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.