Merit Medical Systems (NASDAQ:MMSI) Updates FY22 Earnings Guidance

Merit Medical Systems (NASDAQ:MMSI – Get Rating) updated its FY22 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.41-2.56 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.48. The company issued revenue guidance of $1.117-1.140 billion, compared to the consensus revenue estimate of $1.13 billion.

MMSI has been the subject of a number of recent analyst reports. Piper Sandler lowered their price target on shares of Merit Medical Systems from $79.00 to $75.00 in a report on Friday, February 25th. TheStreet raised shares of Merit Medical Systems from a c rating to a b- rating in a report on Friday, February 25th. StockNews.com raised shares of Merit Medical Systems from a buy rating to a strong-buy rating in a report on Wednesday, April 13th. Raymond James lowered their price target on shares of Merit Medical Systems from $73.00 to $72.00 and set an outperform rating for the company in a report on Friday, February 25th. Finally, Barrington Research lowered their price target on shares of Merit Medical Systems from $82.00 to $78.00 in a report on Thursday. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Buy and an average price target of $74.40.

NASDAQ MMSI traded down $1.54 during trading hours on Friday, reaching $62.01. 489,984 shares of the company traded hands, compared to its average volume of 410,272. Merit Medical Systems has a 12 month low of $51.66 and a 12 month high of $73.85. The company has a current ratio of 2.04, a quick ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $3.51 billion, a PE ratio of 73.82, a PEG ratio of 2.49 and a beta of 1.03. The company has a 50 day moving average of $64.89 and a two-hundred day moving average of $63.59.

Merit Medical Systems (NASDAQ:MMSI – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The medical instruments supplier reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.06. Merit Medical Systems had a net margin of 4.36% and a return on equity of 13.47%. During the same quarter in the prior year, the business posted $0.52 EPS. On average, equities research analysts anticipate that Merit Medical Systems will post 2.5 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Morgan Stanley lifted its position in shares of Merit Medical Systems by 91.5% in the 2nd quarter. Morgan Stanley now owns 238,455 shares of the medical instruments supplier’s stock worth $15,419,000 after buying an additional 113,956 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Merit Medical Systems by 5.0% in the 4th quarter. Parametric Portfolio Associates LLC now owns 241,155 shares of the medical instruments supplier’s stock worth $15,024,000 after acquiring an additional 11,512 shares during the period. Legal & General Group Plc increased its holdings in shares of Merit Medical Systems by 4.0% in the 4th quarter. Legal & General Group Plc now owns 148,421 shares of the medical instruments supplier’s stock worth $9,246,000 after acquiring an additional 5,719 shares during the period. California State Teachers Retirement System increased its holdings in shares of Merit Medical Systems by 2.9% in the 4th quarter. California State Teachers Retirement System now owns 70,898 shares of the medical instruments supplier’s stock worth $4,417,000 after acquiring an additional 2,026 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Merit Medical Systems by 6.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 65,468 shares of the medical instruments supplier’s stock worth $4,079,000 after acquiring an additional 4,114 shares during the period. Institutional investors own 95.93% of the company’s stock.

About Merit Medical Systems (Get Rating)

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. The company operates in two segments, Cardiovascular and Endoscopy.

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