Latest Stocks: Merit Medical Systems, Inc. (MMSI) Expected to Post Quarterly Sales of $181.21 Million

Latest Stocks: Merit Medical Systems, Inc. (MMSI) Expected to Post Quarterly Sales of $181.21 Million

Wall Street analysts expect that Merit Medical Systems, Inc. (NASDAQ:MMSI) will announce sales of $181.21 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Merit Medical Systems’ earnings, with the lowest sales estimate coming in at $179.02 million and the highest estimate coming in at $182.6 million. Merit Medical Systems reported sales of $151.07 million in the same quarter last year, which would suggest a positive year over year growth rate of 20%. The company is expected to announce its next quarterly earnings results on Wednesday, July 26th.

According to Zacks, analysts expect that Merit Medical Systems will report full-year sales of $181.21 million for the current financial year, with estimates ranging from $717.2 million to $722.7 million. For the next year, analysts anticipate that the business will report sales of $778.42 million per share, with estimates ranging from $767.74 million to $795.43 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Merit Medical Systems.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Thursday, April 27th. The medical instruments supplier reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.05. The company had revenue of $171.07 million during the quarter, compared to the consensus estimate of $163.50 million. Merit Medical Systems had a return on equity of 8.85% and a net margin of 3.25%. Merit Medical Systems’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. Several equities analysts have weighed in on the company. Canaccord Genuity restated a “buy” rating and set a $35.00 price target on shares of Merit Medical Systems in a report on Monday, February 27th. Wells Fargo & Co initiated coverage on Merit Medical Systems in a research note on Wednesday, April 5th. They issued an “outperform” rating and a $31.70 price objective for the company. Zacks Investment Research raised Merit Medical Systems from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective for the company in a research note on Friday, February 24th. Sidoti reaffirmed a “buy” rating and issued a $41.00 price objective (up from $35.00) on shares of Merit Medical Systems in a research note on Saturday, April 29th. Finally, Craig Hallum initiated coverage on Merit Medical Systems in a research note on Monday, April 17th. They issued a “buy” rating and a $36.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $33.28.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Thursday, April 27th. The medical instruments supplier reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.05. The company had revenue of $171.07 million during the quarter, compared to the consensus estimate of $163.50 million. Merit Medical Systems had a return on equity of 8.85% and a net margin of 3.25%. Merit Medical Systems’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. Merit Medical Systems (NASDAQ:MMSI) traded down 2.843% during mid-day trading on Friday, reaching $33.325. The company had a trading volume of 238,463 shares. The company has a market capitalization of $1.49 billion, a PE ratio of 49.517 and a beta of 0.93. The firm has a 50-day moving average of $30.82 and a 200 day moving average of $27.53. Merit Medical Systems has a 1-year low of $18.22 and a 1-year high of $34.50.

In other Merit Medical Systems news, Director Franklin J. Miller sold 16,090 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $33.95, for a total transaction of $546,255.50. Following the transaction, the director now directly owns 27,334 shares in the company, valued at approximately $927,989.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is currently owned by company insiders. A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its position in Merit Medical Systems by 1.5% in the first quarter. Macquarie Group Ltd. now owns 1,000,319 shares of the medical instruments supplier’s stock valued at $28,909,000 after buying an additional 15,255 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in Merit Medical Systems during the first quarter valued at approximately $2,479,000. Jane Street Group LLC purchased a new position in Merit Medical Systems during the first quarter valued at approximately $242,000. Gotham Asset Management LLC purchased a new position in Merit Medical Systems during the first quarter valued at approximately $468,000. Finally, State Street Corp increased its position in Merit Medical Systems by 1.7% in the first quarter. State Street Corp now owns 1,218,788 shares of the medical instruments supplier’s stock valued at $35,223,000 after buying an additional 20,885 shares during the last quarter. Institutional investors own 91.92% of the company’s stock.

Merit Medical Systems Company Profile 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.

Get a free copy of the Zacks research report on Merit Medical Systems (MMSI) For more information about research offerings from Zacks Investment Research, visit Zacks.com

Related posts

Leave a Comment