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

Merit Medical Systems (NASDAQ:MMSI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 3.330-3.380 for the period, compared to the consensus EPS 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 Trading Up 3.7 %

MMSI traded up $3.69 during mid-day trading on Wednesday, hitting $102.48. The stock had a trading volume of 710,840 shares, compared to its average volume of 368,968. The stock’s fifty day simple moving average is $96.95 and its 200-day simple moving average is $88.59. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 50.24, a price-to-earnings-growth ratio of 2.46 and a beta of 0.89. Merit Medical Systems has a 1-year low of $65.46 and a 1-year high of $102.53. 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 (NASDAQ:MMSI) last released its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. During the same quarter last year, the firm posted $0.75 earnings per share. Merit Medical Systems’s revenue was up 7.8% compared to the same quarter last year. As a group, research analysts forecast that Merit Medical Systems will post 3.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MMSI has been the topic of several research reports. Barrington Research reaffirmed an “outperform” rating and issued a $114.00 price objective on shares of Merit Medical Systems in a research report on Thursday, October 31st. Bank of America raised their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Needham & Company LLC reissued a “buy” rating and issued a $109.00 price objective on shares of Merit Medical Systems in a research report on Thursday, October 31st. Robert W. Baird raised their target price on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, StockNews.com lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Merit Medical Systems has a consensus rating of “Moderate Buy” and a consensus price target 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.