Wall Street brokerages predict that Merit Medical Systems, Inc. (NASDAQ:MMSI) will report earnings of $0.42 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Merit Medical Systems’ earnings, with estimates ranging from $0.41 to $0.43. Merit Medical Systems posted earnings of $0.32 per share in the same quarter last year, which suggests a positive year over year growth rate of 31.3%. The firm is expected to report its next quarterly earnings report on Wednesday, October 24th.
According to Zacks, analysts expect that Merit Medical Systems will report full year earnings of $1.64 per share for the current financial year, with EPS estimates ranging from $1.62 to $1.66. For the next fiscal year, analysts expect that the business will report earnings of $1.90 per share, with EPS estimates ranging from $1.85 to $1.93. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Merit Medical Systems.
Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Monday, July 23rd. The medical instruments supplier reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The business had revenue of $224.81 million during the quarter, compared to analysts’ expectations of $214.64 million. Merit Medical Systems had a return on equity of 10.48% and a net margin of 2.44%. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period last year, the firm posted $0.36 EPS.
Several analysts recently weighed in on MMSI shares. SunTrust Banks reissued a “buy” rating and set a $62.00 price target (up from $55.00) on shares of Merit Medical Systems in a report on Friday, June 1st. Raymond James lifted their price target on Merit Medical Systems from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday, April 26th. BidaskClub cut Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 7th. Needham & Company LLC reissued a “buy” rating and set a $54.00 price target on shares of Merit Medical Systems in a report on Friday, June 1st. Finally, Wells Fargo & Co lifted their price target on Merit Medical Systems from $53.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, June 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Merit Medical Systems has a consensus rating of “Buy” and an average price target of $60.44.
NASDAQ:MMSI traded up $0.10 during mid-day trading on Wednesday, hitting $58.00. 3,396 shares of the stock were exchanged, compared to its average volume of 543,957. The stock has a market cap of $3.10 billion, a P/E ratio of 45.31, a PEG ratio of 2.68 and a beta of 1.32. The company has a current ratio of 2.66, a quick ratio of 1.45 and a debt-to-equity ratio of 0.56. Merit Medical Systems has a fifty-two week low of $36.21 and a fifty-two week high of $61.17.
In other Merit Medical Systems news, EVP Justin J. Lampropoulos sold 14,000 shares of the firm’s stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $51.31, for a total transaction of $718,340.00. Following the transaction, the executive vice president now owns 14,000 shares in the company, valued at approximately $718,340. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Joseph Wright sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the transaction, the insider now owns 9,928 shares in the company, valued at approximately $491,535.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,756 shares of company stock worth $2,756,764. Corporate insiders own 5.16% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Mount Yale Investment Advisors LLC bought a new position in Merit Medical Systems during the 1st quarter worth $156,000. Campbell & CO Investment Adviser LLC bought a new stake in Merit Medical Systems during the 2nd quarter worth $206,000. Mutual Advisors LLC bought a new stake in Merit Medical Systems during the 2nd quarter worth $208,000. Intrust Bank NA bought a new stake in Merit Medical Systems during the 2nd quarter worth $211,000. Finally, Van Hulzen Asset Management LLC bought a new stake in Merit Medical Systems during the 1st quarter worth $200,000. Hedge funds and other institutional investors own 84.54% of the company’s stock.
About Merit Medical Systems
Merit Medical Systems, Inc designs, develops, manufactures, and markets various disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.
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