Merit Medical Systems Inc. (MMSI) stock surged 5.85% in pre-market trading on Wednesday after the company reported better-than-expected Q4 2024 earnings results. The medical device maker's quarterly revenue and earnings exceeded Wall Street analysts' estimates, driven by strong sales growth across its key business segments.
Merit Medical's Q4 revenue jumped 9.4% year-over-year to $355.2 million, beating consensus estimates of $351.9 million. The company's non-GAAP earnings per share of $0.93 also comfortably surpassed analysts' expectations of $0.83, representing a 12% beat. Merit's robust performance was fueled by solid growth in its Cardiovascular and Endoscopy segments, which saw revenue increase by 7.1% and 87.9% respectively compared to the prior year.
Additionally, Merit Medical's outlook for fiscal 2025 remained optimistic, with the company projecting revenue growth of around 9.1% and non-GAAP earnings per share guidance in the range of $3.58 to $3.70. The company's strong Q4 results and positive forward guidance were well-received by investors, leading to the significant pre-market stock surge.
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