Merit Medical Systems (NASDAQ:MMSI) Updates FY 2021 Earnings Guidance

Merit Medical Systems (NASDAQ:MMSI) updated its FY 2021 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.070-$2.220 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.170. The company issued revenue guidance of $1.06 billion-$1.07 billion, compared to the consensus revenue estimate of $1.07 billion.

MMSI has been the subject of several analyst reports. Raymond James boosted their price target on shares of Merit Medical Systems from $69.00 to $73.00 and gave the stock an outperform rating in a report on Friday, July 30th. Needham & Company LLC boosted their target price on shares of Merit Medical Systems from $73.00 to $83.00 and gave the stock a buy rating in a research note on Friday, July 30th. Wells Fargo & Company raised their price target on Merit Medical Systems from $68.00 to $74.00 and gave the company an equal weight rating in a research note on Friday, October 29th. Piper Sandler upped their price objective on Merit Medical Systems from $73.00 to $79.00 and gave the stock an overweight rating in a research report on Friday, July 30th. Finally, Barrington Research started coverage on Merit Medical Systems in a report on Thursday, September 30th. They issued a buy rating and a $79.00 price objective on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $74.00.

MMSI traded up $0.03 on Thursday, reaching $68.50. The company had a trading volume of 106,435 shares, compared to its average volume of 262,657. The company has a quick ratio of 1.20, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. Merit Medical Systems has a 1 year low of $52.43 and a 1 year high of $73.85. The stock has a market capitalization of $3.87 billion, a PE ratio of 90.13, a P/E/G ratio of 2.92 and a beta of 1.13. The stock has a 50-day moving average price of $69.97 and a 200-day moving average price of $66.59.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Thursday, October 28th. The medical instruments supplier reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.08. The business had revenue of $267.02 million during the quarter, compared to the consensus estimate of $260.61 million. Merit Medical Systems had a return on equity of 12.81% and a net margin of 4.10%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS. As a group, analysts expect that Merit Medical Systems will post 2.16 earnings per share for the current fiscal year.

In other Merit Medical Systems news, insider Brian G. Lloyd sold 15,546 shares of Merit Medical Systems stock in a transaction on Wednesday, September 15th. The shares were sold at an average price of $71.88, for a total value of $1,117,446.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jill Anderson sold 850 shares of the firm’s stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $71.64, for a total value of $60,894.00. The disclosure for this sale can be found here. Insiders sold 25,866 shares of company stock valued at $1,858,571 over the last three months. Corporate insiders own 3.70% of the company’s stock.

A hedge fund recently raised its stake in Merit Medical Systems stock. Morgan Stanley boosted its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 91.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 238,455 shares of the medical instruments supplier’s stock after purchasing an additional 113,956 shares during the period. Morgan Stanley owned about 0.42% of Merit Medical Systems worth $15,419,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc engages in the manufacture and marketing of proprietary disposable medical devices. It operates through the Cardiovascular and Endoscopy segments. The Cardiovascular segment consists of peripheral intervention, cardiac intervention, interventional oncology and spine, and cardiovascular and critical care product groups.

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Earnings History and Estimates for Merit Medical Systems (NASDAQ:MMSI)

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