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

Merit Medical Systems (NASDAQ:MMSI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $3.25-$3.34 for the period, compared to the consensus EPS 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.

Merit Medical Systems Trading Down 1.1 %

MMSI opened at $98.51 on Wednesday. The business has a fifty day moving average price of $90.97 and a 200 day moving average price of $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 has a 12 month low of $62.58 and a 12 month high of $100.32. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 56.61, a PEG ratio of 2.53 and a beta of 0.87.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share 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 15.29%. The firm had revenue of $338.00 million for the quarter, compared to analyst estimates of $334.94 million. Sell-side analysts expect that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MMSI has been the topic of several recent analyst reports. Barrington Research reissued an outperform rating and issued a $100.00 target price on shares of Merit Medical Systems in a report on Tuesday, July 16th. Robert W. Baird assumed coverage on Merit Medical Systems in a report on Friday, June 28th. They issued an outperform rating and a $96.00 price objective on the stock. Needham & Company LLC restated a buy rating and set a $105.00 target price on shares of Merit Medical Systems in a research note on Monday. Baird R W raised Merit Medical Systems to a strong-buy rating in a report on Friday, June 28th. Finally, Wells Fargo & Company raised their price objective on shares of Merit Medical Systems from $85.00 to $103.00 and gave the stock an equal weight rating in a report on Monday. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $100.55.

Insider Transactions at Merit Medical Systems

In related news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction that occurred on 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 sale, the director now directly owns 32,391 shares in the company, valued at $2,753,235. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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.