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

Merit Medical Systems (NASDAQ:MMSI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 3.330-3.380 for the period, compared to the consensus estimate of 3.300. The company issued revenue guidance of $1.3 billion-$1.4 billion, compared to the consensus revenue estimate of $1.3 billion.

Merit Medical Systems Stock Down 0.3 %

NASDAQ MMSI opened at $98.79 on Wednesday. The business has a fifty day moving average price of $96.82 and a two-hundred day moving average price of $88.50. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. Merit Medical Systems has a fifty-two week low of $65.46 and a fifty-two week high of $101.60. The stock has a market capitalization of $5.76 billion, a PE ratio of 48.43, a PEG ratio of 2.45 and a beta of 0.89.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The firm had revenue of $339.85 million during the quarter, compared to analysts’ expectations of $334.60 million. During the same period in the prior year, the company earned $0.75 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts expect that Merit Medical Systems will post 3.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MMSI has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Barrington Research reiterated an “outperform” rating and issued a $114.00 price target on shares of Merit Medical Systems in a research note on Thursday, October 31st. Bank of America increased their price target on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Finally, StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.36.

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.