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

Merit Medical Systems (NASDAQ:MMSI) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 3.250-3.340 for the period, compared to the consensus earnings per share estimate of 3.310. The company issued revenue guidance of $1.3 billion-$1.4 billion, compared to the consensus revenue estimate of $1.3 billion. Merit Medical Systems also updated its FY24 guidance to $3.25-$3.34 EPS.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Baird R W raised Merit Medical Systems to a strong-buy rating in a report on Friday, June 28th. Piper Sandler reissued an overweight rating and issued a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Wells Fargo & Company raised their target price on shares of Merit Medical Systems from $85.00 to $103.00 and gave the stock an equal weight rating in a research note on Monday. Canaccord Genuity Group lifted their target price on shares of Merit Medical Systems from $102.00 to $125.00 and gave the company a buy rating in a report on Tuesday, July 2nd. Finally, StockNews.com upgraded shares of Merit Medical Systems from a hold rating to a buy rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $100.55.

Merit Medical Systems Stock Performance

MMSI opened at $98.51 on Wednesday. Merit Medical Systems has a 1-year low of $62.58 and a 1-year high of $100.32. The stock has a market cap of $5.72 billion, a P/E ratio of 56.61, a P/E/G ratio of 2.53 and a beta of 0.87. The stock’s 50 day simple moving average is $90.97 and its 200 day simple moving average is $82.71. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results 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. The company had revenue of $338.00 million for the quarter, compared to the consensus estimate of $334.94 million. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. As a group, equities analysts anticipate that Merit Medical Systems will post 3.31 EPS for the current fiscal year.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the completion of the transaction, the director now owns 32,391 shares in the company, valued at $2,753,235. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.70% of the stock is owned by corporate insiders.

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.