$187.59 Million in Sales Expected for Merit Medical Systems, Inc. (MMSI) This Quarter
Equities research analysts forecast that Merit Medical Systems, Inc. (NASDAQ:MMSI) will post sales of $187.59 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Merit Medical Systems’ earnings. The highest sales estimate is $189.40 million and the lowest is $185.66 million. Merit Medical Systems posted sales of $157.72 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 18.9%. The business is expected to announce its next quarterly earnings report on Tuesday, February 20th.
According to Zacks, analysts expect that Merit Medical Systems will report full-year sales of $187.59 million for the current financial year, with estimates ranging from $722.65 million to $726.30 million. For the next year, analysts forecast that the company will post sales of $811.52 million per share, with estimates ranging from $785.20 million to $848.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Merit Medical Systems.
Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. Merit Medical Systems had a return on equity of 9.86% and a net margin of 4.06%. The firm had revenue of $179.30 million during the quarter, compared to analyst estimates of $181.28 million. During the same period in the prior year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year.
Several research analysts have issued reports on MMSI shares. Zacks Investment Research upgraded Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Saturday, October 28th. SunTrust Banks set a $47.00 price objective on Merit Medical Systems and gave the stock a “buy” rating in a research note on Thursday, November 16th. Wells Fargo & Co reiterated an “outperform” rating and set a $51.00 price objective (up from $46.00) on shares of Merit Medical Systems in a research note on Thursday, November 30th. ValuEngine upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st. Finally, BidaskClub lowered Merit Medical Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. Merit Medical Systems has an average rating of “Buy” and a consensus target price of $43.77.
Merit Medical Systems (NASDAQ MMSI) traded up $0.85 during trading on Friday, reaching $45.30. The company’s stock had a trading volume of 122,544 shares, compared to its average volume of 247,557. The company has a quick ratio of 1.43, a current ratio of 2.78 and a debt-to-equity ratio of 0.39. Merit Medical Systems has a 1 year low of $24.23 and a 1 year high of $46.40. The firm has a market capitalization of $2,231.34, a price-to-earnings ratio of 74.26, a P/E/G ratio of 2.60 and a beta of 1.23.
In other news, Director Franklin J. Miller sold 10,000 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $43.93, for a total transaction of $439,300.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kent W. Stanger sold 2,918 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $44.55, for a total value of $129,996.90. The disclosure for this sale can be found here. Insiders have sold 32,000 shares of company stock worth $1,416,379 in the last 90 days. Company insiders own 5.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in MMSI. Schwab Charles Investment Management Inc. grew its holdings in shares of Merit Medical Systems by 11.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 224,414 shares of the medical instruments supplier’s stock worth $8,562,000 after purchasing an additional 22,718 shares during the last quarter. Legal & General Group Plc boosted its holdings in Merit Medical Systems by 13.6% in the second quarter. Legal & General Group Plc now owns 97,750 shares of the medical instruments supplier’s stock valued at $3,725,000 after acquiring an additional 11,724 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in Merit Medical Systems by 27.0% in the second quarter. Federated Investors Inc. PA now owns 6,793 shares of the medical instruments supplier’s stock valued at $259,000 after acquiring an additional 1,444 shares during the last quarter. Neuberger Berman Group LLC bought a new position in Merit Medical Systems in the second quarter valued at about $763,000. Finally, Principal Financial Group Inc. boosted its holdings in Merit Medical Systems by 3.9% in the second quarter. Principal Financial Group Inc. now owns 410,183 shares of the medical instruments supplier’s stock valued at $15,648,000 after acquiring an additional 15,345 shares during the last quarter. Institutional investors own 90.65% of the company’s stock.
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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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