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

Merit Medical Systems (NASDAQ:MMSI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.25-$3.34 for the period, compared to the consensus estimate of $3.31. The company issued revenue guidance of $1.339-$1.351 billion, compared to the consensus revenue estimate of $1.34 billion. Merit Medical Systems also updated its FY 2024 guidance to 3.250-3.340 EPS.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MMSI. StockNews.com raised shares of Merit Medical Systems from a hold rating to a buy rating in a research note on Monday, August 5th. Canaccord Genuity Group lifted their price objective on shares of Merit Medical Systems from $102.00 to $125.00 and gave the stock a buy rating in a research note on Tuesday, July 2nd. Barrington Research restated an outperform rating and issued a $100.00 target price on shares of Merit Medical Systems in a report on Tuesday, July 16th. Needham & Company LLC reiterated a buy rating and set a $105.00 price objective on shares of Merit Medical Systems in a report on Monday. Finally, Bank of America raised their target price on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a neutral rating in a research report on Monday. Two research analysts have rated the stock with a hold rating, ten have issued 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 a consensus rating of Moderate Buy and an average target price of $100.55.

Merit Medical Systems Stock Up 3.6 %

NASDAQ:MMSI opened at $99.64 on Tuesday. The company has a market cap of $5.79 billion, a PE ratio of 57.26, a P/E/G ratio of 2.53 and a beta of 0.87. Merit Medical Systems has a twelve month low of $62.58 and a twelve month high of $100.10. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $90.72 and its two-hundred day moving average is $82.55.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The business had revenue of $338.00 million during the quarter, compared to analysts’ expectations of $334.94 million. Analysts anticipate that Merit Medical Systems will post 3.31 EPS for the current year.

Insider Buying and Selling

In related news, Director F. Ann Millner sold 12,500 shares of the stock in a transaction on 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 sale, the director now directly owns 32,391 shares of the company’s stock, valued at $2,753,235. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.