Wall Street analysts expect Merit Medical Systems, Inc. (NASDAQ:MMSI) to announce $0.45 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Merit Medical Systems’ earnings. The lowest EPS estimate is $0.43 and the highest is $0.48. Merit Medical Systems reported earnings of $0.33 per share in the same quarter last year, which indicates a positive year over year growth rate of 36.4%. The firm is scheduled to report its next quarterly earnings report on Wednesday, February 27th.
On average, analysts expect that Merit Medical Systems will report full-year earnings of $1.66 per share for the current year, with EPS estimates ranging from $1.64 to $1.67. For the next fiscal year, analysts forecast that the business will post earnings of $1.93 per share, with EPS estimates ranging from $1.90 to $1.98. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Merit Medical Systems.
Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Thursday, October 25th. The medical instruments supplier reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.05. Merit Medical Systems had a net margin of 4.72% and a return on equity of 10.86%. The company had revenue of $221.66 million during the quarter, compared to analyst estimates of $217.62 million.
MMSI has been the subject of a number of research reports. Sidoti set a $79.00 price objective on shares of Merit Medical Systems and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. Bank of America lowered shares of Merit Medical Systems from a “buy” rating to an “underperform” rating and set a $64.00 price objective for the company. in a research note on Tuesday, August 7th. Zacks Investment Research raised shares of Merit Medical Systems from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Needham & Company LLC upped their price objective on shares of Merit Medical Systems from $54.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Finally, Barrington Research upped their price objective on shares of Merit Medical Systems from $50.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Merit Medical Systems has a consensus rating of “Buy” and an average target price of $68.10.
NASDAQ:MMSI traded down $0.53 during mid-day trading on Monday, reaching $59.16. The company’s stock had a trading volume of 255,629 shares, compared to its average volume of 401,593. Merit Medical Systems has a 1 year low of $36.21 and a 1 year high of $66.34. The firm has a market cap of $3.27 billion, a PE ratio of 46.22, a price-to-earnings-growth ratio of 2.76 and a beta of 1.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.77 and a quick ratio of 1.47.
In other Merit Medical Systems news, Director F. Ann Millner sold 9,593 shares of the stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $56.92, for a total transaction of $546,033.56. Following the completion of the sale, the director now directly owns 7,891 shares of the company’s stock, valued at $449,155.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.16% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in MMSI. BlackRock Inc. lifted its position in shares of Merit Medical Systems by 11.0% during the second quarter. BlackRock Inc. now owns 7,045,772 shares of the medical instruments supplier’s stock valued at $360,744,000 after buying an additional 698,458 shares during the last quarter. Partner Fund Management L.P. lifted its position in shares of Merit Medical Systems by 69.9% during the second quarter. Partner Fund Management L.P. now owns 1,455,616 shares of the medical instruments supplier’s stock valued at $74,528,000 after buying an additional 598,822 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Merit Medical Systems by 10,444.4% during the second quarter. Advisors Asset Management Inc. now owns 471,864 shares of the medical instruments supplier’s stock valued at $219,000 after buying an additional 467,389 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of Merit Medical Systems during the third quarter valued at about $25,196,000. Finally, Frontier Capital Management Co. LLC lifted its position in shares of Merit Medical Systems by 74.8% during the second quarter. Frontier Capital Management Co. LLC now owns 916,409 shares of the medical instruments supplier’s stock valued at $46,920,000 after buying an additional 392,203 shares during the last quarter. 87.09% of the stock is owned by institutional investors and hedge funds.
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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