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 EPS guidance of 3.330-3.380 for the period, compared to the consensus EPS 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 NASDAQ MMSI traded up $1.12 during midday trading on Friday, hitting $103.09. The company’s stock had a trading volume of 82,577 shares, compared to its average volume of 438,962. Merit Medical Systems has a 1-year low of $65.46 and a 1-year high of $103.34. The firm’s fifty day moving average price is $97.07 and its 200-day moving average price is $88.69. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The firm has a market cap of $6.01 billion, a P/E ratio of 49.99, a P/E/G ratio of 2.46 and a beta of 0.89.

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

Wall Street Analyst Weigh In

MMSI has been the topic of several recent research reports. Barrington Research reiterated an “outperform” rating and issued a $114.00 price objective on shares of Merit Medical Systems in a research report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $109.00 price target on shares of Merit Medical Systems in a research report on Thursday, October 31st. Wells Fargo & Company boosted their price target on shares of 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. Bank of America boosted their target price on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Finally, StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus price target of $103.36.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 29,646 shares of Merit Medical Systems stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total value of $2,905,900.92. Following the completion of the sale, the chief financial officer now directly owns 16,361 shares in the company, valued at $1,603,705.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.