Merit Medical Systems (NASDAQ:MMSI) Releases 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 (EPS) guidance of $3.28 to $3.35 for the period, compared to the consensus 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 MMSI traded down $0.99 during mid-day trading on Tuesday, hitting $74.10. The company’s stock had a trading volume of 592,591 shares, compared to its average volume of 487,323. The company has a current ratio of 5.45, a quick ratio of 3.95 and a debt-to-equity ratio of 0.68. The firm has a 50-day simple moving average of $74.43 and a 200 day simple moving average of $73.90. The firm has a market capitalization of $4.30 billion, a P/E ratio of 46.35, a P/E/G ratio of 2.06 and a beta of 0.89. Merit Medical Systems has a 1-year low of $62.58 and a 1-year high of $85.62.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $320.66 million. During the same quarter last year, the business posted $0.79 earnings per share. Merit Medical Systems’s revenue was up 10.6% compared to the same quarter last year. Analysts predict that Merit Medical Systems will post 3.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MMSI has been the subject of a number of recent analyst reports. Needham & Company LLC restated a buy rating and issued a $88.00 price objective on shares of Merit Medical Systems in a research report on Thursday, April 11th. Barrington Research reaffirmed an outperform rating and issued a $98.00 price target on shares of Merit Medical Systems in a research note on Tuesday, April 16th. Raymond James boosted their target price on shares of Merit Medical Systems from $84.00 to $89.00 and gave the company an outperform rating in a research note on Tuesday, January 30th. Piper Sandler increased their target price on shares of Merit Medical Systems from $88.00 to $95.00 and gave the company an overweight rating in a report on Friday, January 12th. Finally, StockNews.com lowered shares of Merit Medical Systems from a buy rating to a hold rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $93.78.

Insider Activity at Merit Medical Systems

In other news, insider Joseph Wright sold 25,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $75.68, for a total transaction of $1,892,000.00. Following the transaction, the insider now directly owns 42,223 shares in the company, valued at approximately $3,195,436.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Raul Jr. Parra sold 6,480 shares of the 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 completion of the sale, the chief financial officer now owns 12,007 shares in the company, valued at approximately $887,917.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph Wright sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $75.68, for a total transaction of $1,892,000.00. Following the transaction, the insider now owns 42,223 shares in the company, valued at approximately $3,195,436.64. The disclosure for this sale can be found here. Insiders have sold 49,637 shares of company stock worth $3,751,673 over the last quarter. 3.70% of the stock is currently owned by company insiders.

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.