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 earnings per share guidance of $3.28 to $3.35 for the period, compared to the consensus EPS estimate of $3.32. The company issued revenue guidance of $1.312 billion to $1.325 billion, compared to the consensus revenue estimate of $1.32 billion.

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock traded down $0.99 during mid-day trading on Tuesday, reaching $74.10. 592,591 shares of the stock traded hands, compared to its average volume of 487,323. The stock has a market capitalization of $4.30 billion, a PE ratio of 46.35, a PEG ratio of 2.06 and a beta of 0.89. The business has a 50-day moving average of $74.43 and a 200 day moving average of $73.90. Merit Medical Systems has a fifty-two week low of $62.58 and a fifty-two week high of $85.62. The company has a quick ratio of 3.95, a current ratio of 5.45 and a debt-to-equity ratio of 0.68.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. Merit Medical Systems had a return on equity of 14.63% and a net margin of 7.51%. The company had revenue of $324.52 million for the quarter, compared to analyst estimates of $320.66 million. During the same quarter last year, the firm posted $0.79 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts predict that Merit Medical Systems will post 3.31 EPS for the current year.

Wall Street Analysts Forecast Growth

MMSI has been the topic of a number of recent research reports. Barrington Research reaffirmed an outperform rating and set a $98.00 price objective on shares of Merit Medical Systems in a research report on Tuesday, April 16th. Needham & Company LLC reiterated a buy rating and issued a $88.00 price objective on shares of Merit Medical Systems in a research note on Thursday, April 11th. Raymond James boosted their price target on shares of Merit Medical Systems from $84.00 to $89.00 and gave the stock an outperform rating in a report on Tuesday, January 30th. CL King began coverage on shares of Merit Medical Systems in a research report on Thursday, April 11th. They set a buy rating and a $88.00 price objective for the company. Finally, Piper Sandler lifted their price target on Merit Medical Systems from $88.00 to $95.00 and gave the stock an overweight rating in a report on Friday, January 12th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Merit Medical Systems presently has a consensus rating of Moderate Buy and an average target price of $93.78.

Insider Activity

In other Merit Medical Systems news, Director Thomas James Gunderson sold 18,157 shares of Merit Medical Systems stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $76.03, for a total transaction of $1,380,476.71. Following the completion of the transaction, the director now owns 19,257 shares in the company, valued at $1,464,109.71. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Thomas James Gunderson sold 18,157 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $76.03, for a total value of $1,380,476.71. Following the transaction, the director now directly owns 19,257 shares in the company, valued at approximately $1,464,109.71. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Raul Jr. Parra sold 6,480 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total transaction of $479,196.00. Following the sale, the chief financial officer now owns 12,007 shares of the company’s stock, valued at $887,917.65. The disclosure for this sale can be found here. In the last three months, insiders sold 49,637 shares of company stock worth $3,751,673. Company insiders own 3.70% of the company’s stock.

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.