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

Merit Medical Systems (NASDAQ:MMSI) issued an update on its FY 2021 earnings guidance on Tuesday morning. 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.

A number of equities research analysts recently commented on the stock. Needham & Company LLC increased their target price on shares of Merit Medical Systems from $73.00 to $83.00 and gave the company a buy rating in a research report on Friday, July 30th. Raymond James boosted their target price on Merit Medical Systems from $69.00 to $73.00 and gave the stock an outperform rating in a research note on Friday, July 30th. Wells Fargo & Company upped their target price on Merit Medical Systems from $68.00 to $74.00 and gave the company an equal weight rating in a research report on Friday, October 29th. Barrington Research began coverage on Merit Medical Systems in a report on Thursday, September 30th. They issued a buy rating and a $79.00 price target for the company. Finally, Piper Sandler upped their price objective on shares of Merit Medical Systems from $73.00 to $79.00 and gave the company an overweight rating in a report on Friday, July 30th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $74.00.

Shares of MMSI stock traded up $0.03 during mid-day trading on Thursday, reaching $68.50. The stock had a trading volume of 106,435 shares, compared to its average volume of 262,657. Merit Medical Systems has a 1-year low of $52.43 and a 1-year high of $73.85. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 90.13, a PEG ratio of 2.92 and a beta of 1.13. The company has a current ratio of 2.17, a quick ratio of 1.20 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average is $69.97 and its 200-day moving average is $66.59.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Thursday, October 28th. The medical instruments supplier reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.08. Merit Medical Systems had a return on equity of 12.81% and a net margin of 4.10%. The firm had revenue of $267.02 million for the quarter, compared to analyst estimates of $260.61 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Merit Medical Systems’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts forecast that Merit Medical Systems will post 2.16 earnings per share for the current year.

In other Merit Medical Systems news, Director Lynne Ward sold 9,470 shares of Merit Medical Systems stock in a transaction on Wednesday, September 15th. The shares were sold at an average price of $71.83, for a total value of $680,230.10. Following the completion of the transaction, the director now owns 21,969 shares of the company’s stock, valued at $1,578,033.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jill Anderson sold 850 shares of Merit Medical Systems stock in a transaction dated Friday, September 10th. The shares were 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. Over the last ninety days, insiders have sold 25,866 shares of company stock worth $1,858,571. 3.70% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in Merit Medical Systems stock. LPL Financial LLC boosted its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 11.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,597 shares of the medical instruments supplier’s stock after buying an additional 1,302 shares during the quarter. LPL Financial LLC’s holdings in Merit Medical Systems were worth $907,000 at the end of the most recent reporting period. 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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