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 Wednesday morning. The company provided earnings per share (EPS) guidance of 3.330-3.380 for the period, compared to the consensus estimate of 3.300. 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 Stock Performance

Shares of Merit Medical Systems stock opened at $98.79 on Wednesday. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 48.43, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89. The stock’s 50-day moving average is $96.82 and its 200-day moving average is $88.50. Merit Medical Systems has a one year low of $65.46 and a one year high of $101.60. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 earnings per share. Equities analysts predict that Merit Medical Systems will post 3.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on MMSI shares. Robert W. Baird boosted their price target on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and set a $109.00 price target on shares of Merit Medical Systems in a research report on Thursday, October 31st. Barrington Research reissued an “outperform” rating and set a $114.00 price target on shares of Merit Medical Systems in a research report on Thursday, October 31st. Bank of America boosted their price target on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company boosted their price target on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.36.

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.