Merit Medical reported a stronger-than-expected second quarter, delivering adjusted EPS of $1.19 on $418.8 million in sales, above estimates. The company increased its FY2026 outlook for adjusted EPS to $4.25-$4.35 and raised the sales range to $1.631-$1.643 billion, signaling stronger demand and margin resilience. The results sparked pre-market strength and fresh price-target upgrades from BTIG and Needham.
MMSI signed a $210 million deal to acquire Cook Medical’s lead management portfolio. Acquisition aims to enhance MMSI’s cardiac solutions and market position. Projected revenues from the acquisition could reach $4-$6 million by 2024. Industry forecasts suggest significant growth in the cardiac intervention market. MMSI's updated revenue guidance reflects positive impacts from the acquisition.
- Merit Medical Systems initiated a recall for plastic syringes supplied by Jiangsu Shenli Medical. - FDA issued a Class I recall, indicating there is a reasonable probability of serious health consequences. Price Impact Rating: Bearish Impact Horizon Rating: Short-term Type: Industry News
- Merit Medical's quarterly earnings beat estimates at $0.77 per share, adjusted for non-recurring items. - Revenues for the quarter ended March 2024 were $323.51 million, surpassing estimates by 2.40%. - Merit Medical's stock has lost 1.2% YTD vs. S&P 500's gain of 7.3%. - Estimate revisions trend for Merit Medical is favorable, currently at a Zacks Rank #2. - Industry outlook can also impact stock performance; Medical - Dental Supplies in the top 34%. Price Impact Rating: bullish Impact Horizon Rating: short-term Type: Earnings
