Equities analysts forecast that Merit Medical Systems, Inc. (NASDAQ:MMSI) will post $217.62 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Merit Medical Systems’ earnings, with the highest sales estimate coming in at $219.69 million and the lowest estimate coming in at $215.90 million. Merit Medical Systems posted sales of $179.34 million in the same quarter last year, which suggests a positive year-over-year growth rate of 21.3%. The business is expected to announce its next quarterly earnings results after the market closes on Thursday, October 25th.
According to Zacks, analysts expect that Merit Medical Systems will report full year sales of $874.03 million for the current fiscal year, with estimates ranging from $870.46 million to $875.66 million. For the next year, analysts expect that the company will report sales of $944.30 million, with estimates ranging from $932.47 million to $963.06 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Merit Medical Systems.
Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Monday, July 23rd. The medical instruments supplier reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The company 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%. Merit Medical Systems’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS.
Several brokerages have recently weighed in on MMSI. Zacks Investment Research upgraded Merit Medical Systems from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Barrington Research raised their price objective on Merit Medical Systems from $50.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, July 24th. Needham & Company LLC raised their price objective on Merit Medical Systems from $67.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, October 2nd. Bank of America cut Merit Medical Systems from a “buy” rating to an “underperform” rating and set a $64.00 price objective for the company. in a report on Tuesday, August 7th. Finally, SunTrust Banks lifted their price target on Merit Medical Systems to $68.00 and gave the stock a “buy” rating in a report on Monday, August 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Merit Medical Systems has an average rating of “Buy” and an average price target of $67.10.
Institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of Merit Medical Systems by 2.9% during the second quarter. FMR LLC now owns 604,923 shares of the medical instruments supplier’s stock worth $30,972,000 after acquiring an additional 17,100 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Merit Medical Systems by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 270,682 shares of the medical instruments supplier’s stock valued at $13,859,000 after buying an additional 1,297 shares in the last quarter. Amalgamated Bank raised its position in shares of Merit Medical Systems by 14.4% in the second quarter. Amalgamated Bank now owns 8,025 shares of the medical instruments supplier’s stock valued at $411,000 after buying an additional 1,010 shares in the last quarter. Legal & General Group Plc raised its position in shares of Merit Medical Systems by 2.0% in the first quarter. Legal & General Group Plc now owns 103,520 shares of the medical instruments supplier’s stock valued at $4,655,000 after buying an additional 2,039 shares in the last quarter. Finally, Mutual Advisors LLC acquired a new stake in shares of Merit Medical Systems in the second quarter valued at approximately $208,000. Institutional investors and hedge funds own 86.96% of the company’s stock.
Shares of NASDAQ MMSI traded up $0.53 during mid-day trading on Friday, hitting $64.95. The company had a trading volume of 294,300 shares, compared to its average volume of 391,991. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 50.03, a PEG ratio of 2.90 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.66 and a quick ratio of 1.45. Merit Medical Systems has a one year low of $36.21 and a one year high of $66.34.
Merit Medical Systems Company Profile
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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