Wall Street analysts expect that Merit Medical Systems, Inc. (NASDAQ:MMSI) will report $0.34 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Merit Medical Systems’ earnings. The highest EPS estimate is $0.37 and the lowest is $0.33. Merit Medical Systems reported earnings per share of $0.48 in the same quarter last year, which suggests a negative year-over-year growth rate of 29.2%. The company is scheduled to announce its next earnings results on Tuesday, February 25th.
On average, analysts expect that Merit Medical Systems will report full year earnings of $1.41 per share for the current fiscal year, with EPS estimates ranging from $1.40 to $1.44. For the next year, analysts forecast that the firm will report earnings of $1.56 per share, with EPS estimates ranging from $1.51 to $1.60. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Merit Medical Systems.
Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.17). The business had revenue of $243.05 million for the quarter, compared to the consensus estimate of $248.53 million. Merit Medical Systems had a net margin of 1.94% and a return on equity of 9.23%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share.
MMSI has been the subject of several research reports. ValuEngine raised shares of Merit Medical Systems from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Raymond James downgraded shares of Merit Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th. Barrington Research decreased their target price on shares of Merit Medical Systems from $59.00 to $31.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Piper Jaffray Companies lowered their price target on Merit Medical Systems from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, TheStreet downgraded Merit Medical Systems from a “b-” rating to a “c+” rating in a research note on Monday, August 26th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $47.89.
In other news, CEO Fred P. Lampropoulos sold 150,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $30.72, for a total transaction of $4,608,000.00. Following the completion of the sale, the chief executive officer now owns 929,991 shares of the company’s stock, valued at approximately $28,569,323.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Raul Jr. Parra acquired 2,525 shares of Merit Medical Systems stock in a transaction dated Tuesday, November 5th. The stock was bought at an average price of $25.50 per share, with a total value of $64,387.50. The disclosure for this purchase can be found here. 4.75% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Merit Medical Systems by 6.2% in the second quarter. BlackRock Inc. now owns 8,567,745 shares of the medical instruments supplier’s stock worth $510,294,000 after buying an additional 502,387 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in shares of Merit Medical Systems by 137.4% during the third quarter. Conestoga Capital Advisors LLC now owns 2,045,887 shares of the medical instruments supplier’s stock valued at $62,318,000 after purchasing an additional 1,184,217 shares in the last quarter. State Street Corp grew its position in shares of Merit Medical Systems by 9.0% during the third quarter. State Street Corp now owns 1,899,874 shares of the medical instruments supplier’s stock valued at $57,870,000 after purchasing an additional 157,199 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Merit Medical Systems by 6.4% during the second 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 in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Merit Medical Systems by 65.4% in the second quarter. Invesco Ltd. now owns 971,691 shares of the medical instruments supplier’s stock worth $57,874,000 after purchasing an additional 384,332 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.
Shares of NASDAQ MMSI opened at $27.99 on Friday. The firm’s 50-day moving average price is $27.73 and its 200-day moving average price is $40.22. Merit Medical Systems has a 52-week low of $19.50 and a 52-week high of $64.03. The company has a market cap of $1.55 billion, a PE ratio of 16.56, a PEG ratio of 2.35 and a beta of 1.08. The company has a quick ratio of 1.47, a current ratio of 2.88 and a debt-to-equity ratio of 0.53.
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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