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Home » Merit Medical ticks up on Street-beating Q4 results

Merit Medical ticks up on Street-beating Q4 results

February 25, 2021 By Danielle Kirsh

merit medicalMerit Medical (NSDQ:MMSI) posted fourth-quarter results that beat the consensus forecast on Wall Street.

The South Jordan, Utah-based company reported profits of $15.4 million, or 27¢ per share, on sales of $258 million for the three months ended Dec. 31, 2020, for a sales growth of 0.03% compared with Q4 2019.

Adjusted to exclude one-time items, earnings per share were 54¢, 11¢ ahead of The Street, where analysts were looking for sales of $250.5 million.

“We delivered fourth-quarter revenue results above the high-end of our guidance range, increasing 6% quarter-over-quarter as reported, despite the challenging operating environment and a slower-than-expected pace of recovery from the COVID-19 pandemic in many of our primary markets around the world,” president and CEO Fred Lampropoulos said in a news release.

“Our financial guidance for 2021 reflects cautious optimism on the prospects for an improving operating environment as we progress through the year, with continued COVID-19-related headwinds over the first half of the year, and a return to more normalized growth as the overall global recovery takes shape over the second half of the year. Importantly, while our 2021 guidance reflects total revenue growth, on a constant currency basis, in the low-to-mid single digits year-over-year, excluding the impact of divestitures and product sales that uniquely benefitted from pandemic-related demand trends in 2020, our revenue guidance reflects growth in the mid-to-high single digits year-over-year in 2021. We also expect to report improving non-GAAP gross and operating margins and strong free cash flow in 2021, driven by strong execution and contributions from our multi-year strategic initiatives related to our Foundations for Growth Program.”

Merit Medical said it expects to log revenue in the range of $990 million to $1.01 billion in 2021, representing an increase of 2.7% to 4.8% year-over-year.

Shares in MMSI were up 0.11% to $56.52 apiece in pre-market trading.

Filed Under: Business/Financial News, MassDevice Earnings Roundup, Wall Street Beat Tagged With: Merit Medical Systems

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About Danielle Kirsh

Danielle Kirsh is an award-winning journalist and senior editor for Medical Design & Outsourcing, MassDevice, and Medical Tubing + Extrusion, and the founder of Women in Medtech and lead editor for Big 100. She received her bachelor's degree in broadcast journalism and mass communication from Norfolk State University and is pursuing her master's in global strategic communications at the University of Florida. You can connect with her on Twitter and LinkedIn, or email her at [email protected].

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