Merit Medical Systems, Inc. (MMSI) Expected to Post Quarterly Sales of $230.12 Million

Brokerages expect Merit Medical Systems, Inc. (NASDAQ:MMSI) to report sales of $230.12 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Merit Medical Systems’ earnings, with estimates ranging from $225.23 million to $235.83 million. Merit Medical Systems posted sales of $190.90 million during the same quarter last year, which would indicate a positive year over year growth rate of 20.5%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, February 27th.

According to Zacks, analysts expect that Merit Medical Systems will report full year sales of $879.63 million for the current year, with estimates ranging from $874.73 million to $885.33 million. For the next year, analysts expect that the business will report sales of $1.01 billion, with estimates ranging from $934.00 million to $1.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Merit Medical Systems.

A number of research firms recently issued reports on MMSI. Zacks Investment Research lowered Merit Medical Systems from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. ValuEngine raised Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 24th. Canaccord Genuity lifted their target price on Merit Medical Systems from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, October 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $73.00 target price on shares of Merit Medical Systems in a report on Monday, December 17th. Finally, BidaskClub lowered Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 5th. One research analyst has rated the stock with a sell rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $67.60.

Shares of MMSI traded up $1.78 during trading hours on Friday, reaching $57.59. 4,641 shares of the company’s stock traded hands, compared to its average volume of 261,386. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 44.70, a price-to-earnings-growth ratio of 2.18 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 2.77. Merit Medical Systems has a twelve month low of $41.55 and a twelve month high of $66.34.

In other news, Director Nolan E. Karras sold 2,000 shares of Merit Medical Systems stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $61.28, for a total transaction of $122,560.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Justin J. Lampropoulos sold 20,000 shares of Merit Medical Systems stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $61.01, for a total value of $1,220,200.00. Following the sale, the executive vice president now owns 20,000 shares of the company’s stock, valued at $1,220,200. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,743 shares of company stock valued at $1,633,506. 5.16% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in shares of Merit Medical Systems by 5.9% during the fourth quarter. Bank of New York Mellon Corp now owns 875,501 shares of the medical instruments supplier’s stock worth $48,862,000 after acquiring an additional 48,526 shares during the last quarter. Lisanti Capital Growth LLC boosted its stake in shares of Merit Medical Systems by 91.5% during the 4th quarter. Lisanti Capital Growth LLC now owns 93,620 shares of the medical instruments supplier’s stock worth $5,225,000 after acquiring an additional 44,720 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Merit Medical Systems by 0.8% during the 4th quarter. New York State Common Retirement Fund now owns 88,382 shares of the medical instruments supplier’s stock worth $4,933,000 after acquiring an additional 707 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its stake in shares of Merit Medical Systems by 3.4% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 13,022 shares of the medical instruments supplier’s stock worth $727,000 after acquiring an additional 434 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund purchased a new position in shares of Merit Medical Systems during the 4th quarter worth $1,164,000. 98.53% of the stock is currently owned by institutional investors and hedge funds.

About Merit Medical Systems

Merit Medical Systems, Inc engages in the manufacture and market of proprietary disposable medical devices. It operates through Cardiovascular and Endoscopy segments. The Cardiovascular segment consists of peripheral intervention, cardiac intervention, interventional oncology and spine, and cardiovascular and critical care product groups.

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