Merit Medical Systems, Inc. (NASDAQ:MMSI) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.23-1.28 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.26. The company issued revenue guidance of $722-727 million, compared to the consensus revenue estimate of $725.48 million.
Several research firms have recently issued reports on MMSI. Craig Hallum reiterated a buy rating and issued a $50.00 price objective (up from $42.00) on shares of Merit Medical Systems in a report on Thursday, July 27th. Bank of America Corporation began coverage on Merit Medical Systems in a research note on Thursday, July 20th. They set a buy rating and a $44.00 price target for the company. Piper Jaffray Companies restated a buy rating and set a $45.00 price target on shares of Merit Medical Systems in a research note on Friday, July 28th. Raymond James Financial, Inc. reaffirmed an outperform rating and set a $44.00 price objective on shares of Merit Medical Systems in a research report on Monday, August 28th. Finally, UBS AG cut Merit Medical Systems from a strong-buy rating to an outperform rating in a research report on Monday, August 28th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $41.65.
Shares of Merit Medical Systems, Inc. (MMSI) traded down $0.65 during trading on Friday, reaching $36.80. The company’s stock had a trading volume of 288,300 shares, compared to its average volume of 388,707. The company has a market cap of $1,879.95, a P/E ratio of 29.49, a PEG ratio of 2.54 and a beta of 1.20. The company has a quick ratio of 1.43, a current ratio of 2.78 and a debt-to-equity ratio of 0.39. Merit Medical Systems, Inc. has a 12 month low of $22.10 and a 12 month high of $45.50.
Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Merit Medical Systems had a return on equity of 9.86% and a net margin of 4.06%. The business had revenue of $179.30 million for the quarter, compared to the consensus estimate of $181.28 million. During the same quarter in the prior year, the company earned $0.26 EPS. The business’s revenue was up 14.2% compared to the same quarter last year. equities analysts anticipate that Merit Medical Systems, Inc. will post 1.27 EPS for the current year.
In related news, Director Kent W. Stanger sold 670 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $42.06, for a total transaction of $28,180.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.00% of the stock is currently owned by corporate insiders.
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Merit Medical Systems Company Profile
Merit Medical Systems, Inc is a manufacturer and marketer of disposable medical devices used in a range of interventional, diagnostic and therapeutic medical procedures. The Company operates in two segments: cardiovascular and endoscopy. The cardiovascular segment consists of cardiology and radiology devices, which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases, and includes embolotherapeutic, cardiac rhythm management (CRM), electrophysiology (EP), and interventional oncology and spine devices.
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