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

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. 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 Stock Performance

Shares of NASDAQ:MMSI traded up $3.69 during mid-day trading on Wednesday, reaching $102.48. 710,840 shares of the company traded hands, compared to its average volume of 368,968. Merit Medical Systems has a 52 week low of $65.46 and a 52 week high of $102.53. The firm has a market cap of $5.97 billion, a PE ratio of 50.24, a PEG ratio of 2.46 and a beta of 0.89. The company's 50 day moving average price is $96.95 and its 200-day moving average price is $88.59. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business had revenue of $339.85 million during the quarter, compared to analyst estimates of $334.60 million. During the same period in the prior year, the business posted $0.75 earnings per share. The company's revenue was up 7.8% on a year-over-year basis. On average, equities analysts expect that Merit Medical Systems will post 3.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MMSI has been the subject of a number of recent analyst reports. StockNews.com lowered Merit Medical Systems from a "buy" rating to a "hold" rating in a research note on Sunday. Needham & Company LLC restated a "buy" rating and issued a $109.00 price target on shares of Merit Medical Systems in a research note on Thursday, October 31st. Barrington Research reiterated an "outperform" rating and set a $114.00 price objective on shares of Merit Medical Systems in a research report on Thursday, October 31st. Piper Sandler restated an "overweight" rating and set a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Finally, Robert W. Baird lifted their price target on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.