Merit Medical Systems, Inc. (MMSI) Scheduled to Post Earnings on Tuesday
Merit Medical Systems, Inc. (NASDAQ:MMSI) will be posting its quarterly earnings results after the market closes on Tuesday, October 24th. Analysts expect Merit Medical Systems to post earnings of $0.30 per share for the quarter. Merit Medical Systems has set its FY17 guidance at $1.23-$1.28 EPS.
Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.07. Merit Medical Systems had a return on equity of 9.78% and a net margin of 4.87%. The business had revenue of $186.50 million for the quarter, compared to analyst estimates of $181.46 million. During the same quarter last year, the company earned $0.26 EPS. The business’s quarterly revenue was up 23.4% on a year-over-year basis. On average, analysts expect Merit Medical Systems to post $1.26 EPS for the current fiscal year and $1.42 EPS for the next fiscal year.
Shares of Merit Medical Systems, Inc. (MMSI) opened at 42.40 on Tuesday. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 60.40 and a beta of 1.25. Merit Medical Systems, Inc. has a 12 month low of $20.70 and a 12 month high of $45.50. The stock’s 50 day moving average price is $42.09 and its 200 day moving average price is $37.27.
In other Merit Medical Systems news, insider Richard W. Edelman sold 29,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $41.19, for a total transaction of $1,194,510.00. Following the transaction, the insider now owns 35,000 shares of the company’s stock, valued at approximately $1,441,650. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kent W. Stanger sold 7,400 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $42.22, for a total value of $312,428.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,106 shares of company stock worth $2,772,344. 5.00% of the stock is currently owned by company insiders.
MMSI has been the subject of a number of analyst reports. Piper Jaffray Companies reissued a “buy” rating and issued a $45.00 price target on shares of Merit Medical Systems in a report on Friday, July 28th. Craig Hallum reissued a “buy” rating and issued a $50.00 price target (up previously from $42.00) on shares of Merit Medical Systems in a report on Thursday, July 27th. Bank of America Corporation initiated coverage on Merit Medical Systems in a report on Thursday, July 20th. They issued a “buy” rating and a $44.00 price target for the company. Sidoti reissued a “buy” rating and issued a $46.00 price target (up previously from $41.00) on shares of Merit Medical Systems in a report on Wednesday, June 28th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $45.00 price target on shares of Merit Medical Systems in a report on Wednesday, September 6th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $41.27.
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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.
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