Equities research analysts expect that Merit Medical Systems, Inc. (NASDAQ:MMSI) will post sales of $214.46 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Merit Medical Systems’ earnings, with the highest sales estimate coming in at $217.33 million and the lowest estimate coming in at $208.55 million. Merit Medical Systems posted sales of $186.55 million during the same quarter last year, which would indicate a positive year over year growth rate of 15%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, July 25th.
On average, analysts expect that Merit Medical Systems will report full-year sales of $848.35 million for the current financial year, with estimates ranging from $844.04 million to $854.49 million. For the next financial year, analysts forecast that the business will post sales of $918.91 million per share, with estimates ranging from $901.51 million to $944.22 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Merit Medical Systems.
Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Wednesday, April 25th. The medical instruments supplier reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. Merit Medical Systems had a net margin of 2.37% and a return on equity of 10.01%. The firm had revenue of $203.04 million during the quarter, compared to analysts’ expectations of $192.60 million. During the same period in the previous year, the company earned $0.28 earnings per share. The firm’s quarterly revenue was up 18.7% on a year-over-year basis.
A number of analysts have commented on MMSI shares. ValuEngine raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Zacks Investment Research raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Saturday, March 3rd. BidaskClub raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Tuesday, May 1st. Needham & Company LLC started coverage on shares of Merit Medical Systems in a report on Friday, April 20th. They set a “buy” rating and a $53.00 target price for the company. Finally, Canaccord Genuity upped their target price on shares of Merit Medical Systems from $50.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, March 1st. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $51.00.
MMSI stock traded up $0.10 during midday trading on Friday, reaching $50.25. 281,800 shares of the company’s stock traded hands, compared to its average volume of 367,712. Merit Medical Systems has a 52-week low of $35.11 and a 52-week high of $55.50. The stock has a market cap of $2.53 billion, a P/E ratio of 39.26, a P/E/G ratio of 2.36 and a beta of 1.34. The company has a current ratio of 2.76, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53.
In other Merit Medical Systems news, insider Joseph Wright sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the insider now directly owns 9,928 shares in the company, valued at $491,535.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Justin J. Lampropoulos sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $51.31, for a total transaction of $718,340.00. Following the completion of the transaction, the executive vice president now owns 14,000 shares of the company’s stock, valued at $718,340. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,050 shares of company stock valued at $2,317,065. Company insiders own 5.16% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Virtus Fund Advisers LLC bought a new position in shares of Merit Medical Systems in the fourth quarter worth approximately $160,000. We Are One Seven LLC bought a new position in shares of Merit Medical Systems in the fourth quarter worth approximately $170,000. Van Hulzen Asset Management LLC bought a new position in shares of Merit Medical Systems in the first quarter worth approximately $200,000. BTC Capital Management Inc. bought a new position in shares of Merit Medical Systems in the first quarter worth approximately $206,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Merit Medical Systems by 1,336.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,842 shares of the medical instruments supplier’s stock worth $221,000 after purchasing an additional 4,505 shares during the period. Institutional investors and hedge funds own 92.27% of the company’s stock.
About Merit Medical Systems
Merit Medical Systems, Inc designs, develops, manufactures, and markets various 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 various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.
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