Brokerages expect Merit Medical Systems, Inc. (NASDAQ:MMSI) to report earnings of $0.32 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Merit Medical Systems’ earnings, with estimates ranging from $0.30 to $0.33. Merit Medical Systems reported earnings per share of $0.31 during the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The firm is expected to issue its next earnings results on Tuesday, February 20th.
On average, analysts expect that Merit Medical Systems will report full year earnings of $1.27 per share for the current fiscal year, with EPS estimates ranging from $1.25 to $1.28. For the next fiscal year, analysts anticipate that the business will report earnings of $1.47 per share, with EPS estimates ranging from $1.42 to $1.60. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Merit Medical Systems.
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, beating the consensus estimate of $0.30 by $0.02. Merit Medical Systems had a net margin of 4.06% and a return on equity of 9.86%. The business had revenue of $179.30 million during the quarter, compared to analyst estimates of $181.28 million. During the same period in the prior year, the business posted $0.26 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis.
Several equities analysts have recently commented on the stock. ValuEngine downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Wells Fargo & Co reaffirmed an “outperform” rating and set a $51.00 price objective (up from $46.00) on shares of Merit Medical Systems in a research note on Thursday, November 30th. Zacks Investment Research raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Saturday, October 28th. BidaskClub downgraded shares of Merit Medical Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. Finally, SunTrust Banks set a $47.00 price objective on shares of Merit Medical Systems and gave the company a “buy” rating in a research note on Thursday, November 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $43.77.
Merit Medical Systems (NASDAQ:MMSI) opened at $44.10 on Thursday. The company has a market cap of $2,250.00, a PE ratio of 73.50, a PEG ratio of 2.61 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.78. Merit Medical Systems has a one year low of $24.23 and a one year high of $46.40.
In related news, Director Franklin J. Miller sold 10,000 shares of the stock in a transaction dated Saturday, December 29th. The shares were sold at an average price of $43.93, for a total value of $439,300.00. Following the completion of the transaction, the director now directly owns 21,244 shares of the company’s stock, valued at $933,248.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kent W. Stanger sold 9,082 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $44.90, for a total transaction of $407,781.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,000 shares of company stock valued at $1,416,379. 5.00% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Wolverine Trading LLC purchased a new stake in Merit Medical Systems in the third quarter worth about $226,000. Insight Capital Research & Management Inc. purchased a new stake in Merit Medical Systems in the third quarter worth about $1,258,000. Neuberger Berman Group LLC grew its holdings in Merit Medical Systems by 1,420.2% in the third quarter. Neuberger Berman Group LLC now owns 304,049 shares of the medical instruments supplier’s stock worth $12,876,000 after purchasing an additional 284,049 shares during the period. California Public Employees Retirement System grew its holdings in Merit Medical Systems by 5.9% in the third quarter. California Public Employees Retirement System now owns 142,092 shares of the medical instruments supplier’s stock worth $6,018,000 after purchasing an additional 7,892 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in Merit Medical Systems in the third quarter worth about $8,889,000. 90.65% of the stock is owned by institutional investors.
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About Merit Medical Systems
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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