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

Merit Medical Systems (NASDAQ:MMSI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $3.27-3.35 for the period, compared to the consensus EPS estimate of $3.29. The company issued revenue guidance of $1.335-1.345 billion, compared to the consensus revenue estimate of $1.33 billion.

Merit Medical Systems Trading Up 5.5 %

Shares of MMSI traded up $4.62 during trading on Friday, reaching $88.74. 1,093,252 shares of the company traded hands, compared to its average volume of 430,224. Merit Medical Systems has a twelve month low of $62.58 and a twelve month high of $90.60. The company has a quick ratio of 4.38, a current ratio of 6.03 and a debt-to-equity ratio of 0.65. The stock has a 50-day simple moving average of $84.15 and a 200-day simple moving average of $79.43. The stock has a market cap of $5.16 billion, a PE ratio of 51.00, a price-to-earnings-growth ratio of 2.38 and a beta of 0.88.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share 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 15.47%. The firm had revenue of $338.00 million for the quarter, compared to analysts’ expectations of $334.94 million. On average, analysts anticipate that Merit Medical Systems will post 3.29 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on MMSI. Piper Sandler increased their target price on Merit Medical Systems from $97.00 to $100.00 and gave the company an overweight rating in a report on Friday. Robert W. Baird assumed coverage on shares of Merit Medical Systems in a research report on Friday, June 28th. They set an outperform rating and a $96.00 price objective for the company. CL King began coverage on shares of Merit Medical Systems in a research note on Thursday, April 11th. They issued a buy rating and a $88.00 price objective on the stock. StockNews.com downgraded shares of Merit Medical Systems from a buy rating to a hold rating in a research report on Friday, July 5th. Finally, Needham & Company LLC increased their price target on Merit Medical Systems from $93.00 to $94.00 and gave the stock a buy rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $96.60.

Insider Activity

In other news, COO Neil Peterson sold 7,500 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $81.85, for a total value of $613,875.00. Following the completion of the sale, the chief operating officer now owns 14,819 shares in the company, valued at $1,212,935.15. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction 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 transaction, the director now directly owns 32,391 shares in the company, valued at approximately $2,753,235. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Neil Peterson sold 7,500 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $81.85, for a total value of $613,875.00. Following the completion of the transaction, the chief operating officer now owns 14,819 shares of the company’s stock, valued at approximately $1,212,935.15. The disclosure for this sale can be found here. 3.70% of the stock is owned by 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.