Wall Street brokerages expect Merit Medical Systems, Inc. (NASDAQ:MMSI) to post earnings of $0.45 per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Merit Medical Systems’ earnings, with the lowest EPS estimate coming in at $0.43 and the highest estimate coming in at $0.47. Merit Medical Systems posted earnings per share of $0.47 during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.3%. The company is expected to announce its next earnings report after the market closes on Wednesday, October 30th.
According to Zacks, analysts expect that Merit Medical Systems will report full year earnings of $1.75 per share for the current fiscal year, with EPS estimates ranging from $1.73 to $1.78. For the next financial year, analysts expect that the business will post earnings of $2.01 per share, with EPS estimates ranging from $2.00 to $2.05. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Merit Medical Systems.
Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $0.42 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.08). Merit Medical Systems had a net margin of 4.10% and a return on equity of 10.40%. The company had revenue of $255.50 million for the quarter, compared to analysts’ expectations of $258.58 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The company’s revenue was up 13.7% on a year-over-year basis.
A number of brokerages recently issued reports on MMSI. Barrington Research began coverage on shares of Merit Medical Systems in a report on Thursday, September 12th. They issued a “buy” rating and a $59.00 price objective for the company. Oppenheimer began coverage on shares of Merit Medical Systems in a report on Monday, September 23rd. They issued an “outperform” rating and a $40.00 price objective for the company. Sidoti set a $74.00 price objective on shares of Merit Medical Systems and gave the stock a “buy” rating in a report on Friday, July 26th. Canaccord Genuity reiterated a “buy” rating and issued a $37.00 price objective (down from $53.00) on shares of Merit Medical Systems in a report on Friday, September 20th. Finally, Raymond James cut shares of Merit Medical Systems from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $52.11.
NASDAQ:MMSI traded up $0.33 during trading hours on Tuesday, reaching $30.64. The company’s stock had a trading volume of 485,032 shares, compared to its average volume of 700,501. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 1.67 and a beta of 1.07. Merit Medical Systems has a one year low of $25.67 and a one year high of $64.93. The business’s 50-day moving average is $30.12 and its 200-day moving average is $47.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 1.27.
In other Merit Medical Systems news, CEO Fred P. Lampropoulos sold 150,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $30.72, for a total transaction of $4,608,000.00. Following the completion of the transaction, the chief executive officer now owns 929,991 shares of the company’s stock, valued at approximately $28,569,323.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director F. Ann Millner sold 3,780 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $36.67, for a total transaction of $138,612.60. Following the transaction, the director now directly owns 13,298 shares of the company’s stock, valued at approximately $487,637.66. The disclosure for this sale can be found here. Insiders sold 234,530 shares of company stock valued at $7,853,050 over the last quarter. 4.75% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in MMSI. Conestoga Capital Advisors LLC acquired a new position in Merit Medical Systems during the 2nd quarter worth $51,321,000. BlackRock Inc. lifted its position in Merit Medical Systems by 6.2% during the 2nd quarter. BlackRock Inc. now owns 8,567,745 shares of the medical instruments supplier’s stock worth $510,294,000 after acquiring an additional 502,387 shares during the last quarter. Invesco Ltd. lifted its position in Merit Medical Systems by 65.4% during the 2nd quarter. Invesco Ltd. now owns 971,691 shares of the medical instruments supplier’s stock worth $57,874,000 after acquiring an additional 384,332 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Merit Medical Systems by 1,385.8% during the second quarter. Nuveen Asset Management LLC now owns 401,400 shares of the medical instruments supplier’s stock valued at $23,908,000 after buying an additional 374,384 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Merit Medical Systems by 151.5% during the second quarter. Morgan Stanley now owns 330,232 shares of the medical instruments supplier’s stock valued at $19,668,000 after buying an additional 198,936 shares during the last quarter. 98.70% of the stock is owned by hedge funds and other institutional investors.
About Merit Medical Systems
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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