Merit Medical Systems (NASDAQ:MMSI) Updates FY 2024 Earnings Guidance

Merit Medical Systems (NASDAQ:MMSI) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 3.220-3.310 for the period, compared to the consensus earnings per share estimate of 3.330. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion.

Merit Medical Systems Stock Down 0.8 %

MMSI opened at $85.85 on Thursday. Merit Medical Systems has a 1-year low of $62.58 and a 1-year high of $87.44. The stock has a market cap of $4.99 billion, a PE ratio of 49.34, a price-to-earnings-growth ratio of 2.46 and a beta of 0.88. The stock’s fifty day simple moving average is $81.33 and its 200 day simple moving average is $77.91. The company has a current ratio of 6.03, a quick ratio of 4.38 and a debt-to-equity ratio of 0.65.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 EPS for the quarter, topping the consensus estimate of $0.71 by $0.06. The business had revenue of $323.51 million during the quarter, compared to the consensus estimate of $315.57 million. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. Merit Medical Systems’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 EPS. As a group, research analysts expect that Merit Medical Systems will post 3.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MMSI shares. Piper Sandler lifted their target price on Merit Medical Systems from $95.00 to $97.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. Needham & Company LLC lifted their price objective on Merit Medical Systems from $85.00 to $93.00 and gave the company a buy rating in a report on Monday. CL King started coverage on Merit Medical Systems in a report on Thursday, April 11th. They set a buy rating and a $88.00 target price on the stock. Baird R W raised Merit Medical Systems to a strong-buy rating in a research note on Friday, June 28th. Finally, StockNews.com upgraded shares of Merit Medical Systems from a hold rating to a buy rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $96.20.

Insider Transactions at Merit Medical Systems

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