Merit Medical Systems, Inc. (MMSI) Expected to Post Earnings of $0.32 Per Share

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.

ILLEGAL ACTIVITY NOTICE: This news story was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this news story on another domain, it was copied illegally and republished in violation of international copyright and trademark legislation. The legal version of this news story can be read at https://www.dispatchtribunal.com/2018/02/02/merit-medical-systems-inc-mmsi-expected-to-post-earnings-of-0-32-per-share.html.

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.

Get a free copy of the Zacks research report on Merit Medical Systems (MMSI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Merit Medical Systems (NASDAQ:MMSI)

Receive News & Ratings for Merit Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merit Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply