Equities research analysts predict that Merit Medical Systems, Inc. (NASDAQ:MMSI) will announce $248.79 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Merit Medical Systems’ earnings. The lowest sales estimate is $244.79 million and the highest is $255.40 million. Merit Medical Systems reported sales of $221.66 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.2%. The company is expected to announce its next quarterly earnings report after the market closes on Wednesday, October 30th.
According to Zacks, analysts expect that Merit Medical Systems will report full year sales of $1.01 billion for the current financial year, with estimates ranging from $1.00 billion to $1.02 billion. For the next financial year, analysts forecast that the business will post sales of $1.09 billion, with estimates ranging from $1.08 billion to $1.11 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Merit Medical Systems.
Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Thursday, July 25th. The medical instruments supplier reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.08). Merit Medical Systems had a net margin of 4.10% and a return on equity of 10.40%. The firm had revenue of $255.50 million during the quarter, compared to the consensus estimate of $258.58 million. During the same period in the prior year, the business posted $0.43 earnings per share. Merit Medical Systems’s quarterly revenue was up 13.7% compared to the same quarter last year.
Several research analysts have commented on the company. BidaskClub raised Merit Medical Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Canaccord Genuity reissued a “buy” rating and set a $37.00 target price (down previously from $53.00) on shares of Merit Medical Systems in a research note on Friday, September 20th. Barrington Research assumed coverage on Merit Medical Systems in a research note on Thursday, September 12th. They set a “buy” rating and a $59.00 target price for the company. Raymond James downgraded Merit Medical Systems from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. Finally, TheStreet downgraded Merit Medical Systems from a “b-” rating to a “c+” rating in a research note on Monday, August 26th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $52.11.
MMSI stock traded down $0.14 during midday trading on Thursday, reaching $30.37. The company had a trading volume of 312,150 shares, compared to its average volume of 551,117. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 1.27. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.68 and a beta of 1.07. Merit Medical Systems has a 1-year low of $25.67 and a 1-year high of $64.03. The stock has a 50 day moving average price of $29.79 and a 200-day moving average price of $46.46.
In other news, Director F. Ann Millner sold 3,780 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $36.67, for a total transaction of $138,612.60. Following the sale, the director now directly owns 13,298 shares in the company, valued at $487,637.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Ronald Frost purchased 5,000 shares of Merit Medical Systems stock in a transaction dated Tuesday, July 30th. The shares were purchased at an average price of $40.00 per share, for a total transaction of $200,000.00. Following the completion of the acquisition, the chief operating officer now owns 5,000 shares of the company’s stock, valued at approximately $200,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 234,530 shares of company stock worth $7,853,050. Company insiders own 4.75% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL raised its position in Merit Medical Systems by 50.7% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 30,600 shares of the medical instruments supplier’s stock valued at $932,000 after buying an additional 10,300 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Merit Medical Systems by 803.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,935 shares of the medical instruments supplier’s stock valued at $89,000 after buying an additional 2,610 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Merit Medical Systems in the 3rd quarter valued at $529,000. State of Alaska Department of Revenue grew its stake in Merit Medical Systems by 126.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 42,389 shares of the medical instruments supplier’s stock valued at $1,291,000 after purchasing an additional 23,661 shares during the period. Finally, Macquarie Group Ltd. grew its stake in Merit Medical Systems by 6.4% in the 2nd quarter. Macquarie Group Ltd. now owns 1,213,409 shares of the medical instruments supplier’s stock valued at $72,271,000 after purchasing an additional 73,409 shares during the period. Institutional investors own 97.79% of the company’s stock.
About Merit Medical Systems
Merit Medical Systems, Inc manufactures and markets 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 peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.
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