Merit Medical Systems Q2 Beat Expectations: Analysts Say China/Russia Headwinds Hamper Guidance Raise
Portfolio Pulse from Vandana Singh
Merit Medical Systems Inc (MMSI) reported Q2 FY23 revenue of $320.1 million, up 8.5% Y/Y, beating the consensus of $310.45 million. The company's adjusted gross margin was 51.4%, compared to 49.3% a year ago. Despite beating expectations, the company maintained its 2023 revenue and EPS guidance, implying slower growth in 2H23 due to headwinds from volume-based purchasing in China and Russian sanctions. Needham analysts maintain a Buy with a price target of $96.
July 26, 2023 | 7:50 pm
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Merit Medical Systems beat Q2 expectations but maintained its 2023 guidance due to headwinds from China and Russia. This could imply slower growth in 2H23, which may disappoint investors. However, Needham analysts maintain a Buy rating with a price target of $96.
Despite beating Q2 expectations, MMSI's decision to maintain its 2023 guidance due to headwinds from China and Russia could imply slower growth in 2H23, which may disappoint investors. However, Needham analysts' maintained Buy rating and price target of $96 could provide some positive sentiment.
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