Brokerages expect that Merit Medical Systems, Inc. (NASDAQ:MMSI) will report sales of $192.15 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Merit Medical Systems’ earnings, with the highest sales estimate coming in at $192.45 million and the lowest estimate coming in at $191.84 million. Merit Medical Systems reported sales of $171.07 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.3%. The firm is expected to announce its next quarterly earnings report on Thursday, April 26th.
On average, analysts expect that Merit Medical Systems will report full-year sales of $192.15 million for the current year, with estimates ranging from $842.65 million to $848.00 million. For the next fiscal year, analysts expect that the company will report sales of $905.60 million per share, with estimates ranging from $877.29 million to $932.52 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Merit Medical Systems.
Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Merit Medical Systems had a return on equity of 9.65% and a net margin of 3.78%. The business had revenue of $190.90 million for the quarter, compared to the consensus estimate of $187.62 million. During the same period in the prior year, the business earned $0.31 EPS. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis.
A number of research analysts recently weighed in on the company. SunTrust Banks upped their price target on Merit Medical Systems from $1.64 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research raised Merit Medical Systems from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Saturday. Canaccord Genuity upped their price target on Merit Medical Systems from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, March 1st. Barrington Research raised Merit Medical Systems from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Thursday, March 1st. Finally, BidaskClub raised Merit Medical Systems from a “sell” rating to a “hold” rating in a research note on Saturday, February 17th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Merit Medical Systems presently has an average rating of “Buy” and a consensus price target of $46.42.
In other news, Director Kent W. Stanger sold 9,082 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $44.90, for a total value of $407,781.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Franklin J. Miller sold 10,000 shares of the stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $43.93, for a total value of $439,300.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,082 shares of company stock valued at $1,286,382. Company insiders own 5.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Hodges Capital Management Inc. purchased a new stake in shares of Merit Medical Systems during the third quarter valued at approximately $14,253,000. Stevens Capital Management LP bought a new position in Merit Medical Systems during the third quarter valued at $594,000. New York State Teachers Retirement System grew its holdings in Merit Medical Systems by 3.6% during the third quarter. New York State Teachers Retirement System now owns 95,033 shares of the medical instruments supplier’s stock valued at $4,025,000 after purchasing an additional 3,300 shares during the period. Wells Fargo & Company MN grew its holdings in Merit Medical Systems by 189.2% during the third quarter. Wells Fargo & Company MN now owns 324,487 shares of the medical instruments supplier’s stock valued at $13,742,000 after purchasing an additional 212,304 shares during the period. Finally, 361 Capital LLC bought a new position in Merit Medical Systems during the third quarter valued at $2,133,000. 94.17% of the stock is owned by institutional investors.
Merit Medical Systems (NASDAQ:MMSI) traded up $1.15 during mid-day trading on Friday, reaching $46.20. The company had a trading volume of 482,423 shares, compared to its average volume of 308,354. Merit Medical Systems has a fifty-two week low of $27.65 and a fifty-two week high of $49.50. The company has a current ratio of 2.73, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38. The firm has a market cap of $2,236.88, a P/E ratio of 79.48, a P/E/G ratio of 2.09 and a beta of 1.28.
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About Merit Medical Systems
Merit Medical Systems, Inc is a manufacturer and marketer of disposable medical devices used in a range of interventional, diagnostic and therapeutic medical procedures. The Company operates in two segments: cardiovascular and endoscopy. The cardiovascular segment consists of cardiology and radiology devices, which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases, and includes embolotherapeutic, cardiac rhythm management (CRM), electrophysiology (EP), and interventional oncology and spine devices.
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