Wall Street analysts expect that Merit Medical Systems, Inc. (NASDAQ:MMSI) will report $0.45 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Merit Medical Systems’ earnings. The highest EPS estimate is $0.47 and the lowest is $0.43. Merit Medical Systems reported earnings of $0.47 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 4.3%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, October 30th.
On average, analysts expect that Merit Medical Systems will report full-year earnings of $1.75 per share for the current year, with EPS estimates ranging from $1.73 to $1.78. For the next fiscal year, analysts anticipate that the company will post earnings of $2.01 per share, with EPS estimates ranging from $2.00 to $2.05. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Merit Medical Systems.
Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, July 25th. The medical instruments supplier reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.08). The business had revenue of $255.50 million during the quarter, compared to the consensus estimate of $258.58 million. Merit Medical Systems had a net margin of 4.10% and a return on equity of 10.40%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 EPS.
MMSI has been the subject of a number of recent research reports. TheStreet cut shares of Merit Medical Systems from a “b-” rating to a “c+” rating in a research report on Monday, August 26th. Bank of America set a $37.00 target price on shares of Merit Medical Systems and gave the company a “hold” rating in a research report on Friday, September 13th. Piper Jaffray Companies reduced their target price on shares of Merit Medical Systems from $58.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, September 17th. Canaccord Genuity reissued a “buy” rating and issued a $37.00 target price (down previously from $53.00) on shares of Merit Medical Systems in a research report on Friday, September 20th. Finally, Sidoti set a $74.00 target price on shares of Merit Medical Systems and gave the company a “buy” rating in a research report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.11.
Shares of Merit Medical Systems stock traded down $0.14 during trading on Tuesday, reaching $30.37. The company’s stock had a trading volume of 312,150 shares, compared to its average volume of 551,117. The business’s 50-day moving average price is $29.79 and its 200-day moving average price is $46.46. The firm has a market cap of $1.69 billion, a PE ratio of 17.97, a P/E/G ratio of 1.68 and a beta of 1.07. Merit Medical Systems has a 52 week low of $25.67 and a 52 week high of $64.03. The company has a quick ratio of 1.27, a current ratio of 2.42 and a debt-to-equity ratio of 0.48.
In related news, CEO Fred P. Lampropoulos sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $36.86, for a total transaction of $1,474,400.00. Following the completion of the sale, the chief executive officer now owns 1,079,991 shares of the company’s stock, valued at $39,808,468.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fred P. Lampropoulos sold 150,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $30.72, for a total transaction of $4,608,000.00. Following the sale, the chief executive officer now directly owns 929,991 shares of the company’s stock, valued at approximately $28,569,323.52. The disclosure for this sale can be found here. Insiders have sold 234,530 shares of company stock valued at $7,853,050 in the last ninety days. 4.75% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Virginia Retirement Systems ET AL boosted its holdings in shares of Merit Medical Systems by 50.7% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 30,600 shares of the medical instruments supplier’s stock worth $932,000 after buying an additional 10,300 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Merit Medical Systems by 803.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,935 shares of the medical instruments supplier’s stock worth $89,000 after buying an additional 2,610 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Merit Medical Systems during the 3rd quarter worth approximately $529,000. State of Alaska Department of Revenue boosted its holdings in shares of Merit Medical Systems by 126.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 42,389 shares of the medical instruments supplier’s stock worth $1,291,000 after buying an additional 23,661 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in shares of Merit Medical Systems by 6.4% during the 2nd quarter. Macquarie Group Ltd. now owns 1,213,409 shares of the medical instruments supplier’s stock worth $72,271,000 after buying an additional 73,409 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.
Merit Medical Systems Company Profile
Merit Medical Systems, Inc manufactures and markets 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 peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.
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