Zacks: Brokerages Expect Merit Medical Systems, Inc. (MMSI) Will Announce Earnings of $0.32 Per Share
Analysts forecast that Merit Medical Systems, Inc. (NASDAQ:MMSI) will announce $0.32 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Merit Medical Systems’ earnings. The highest EPS estimate is $0.34 and the lowest is $0.30. Merit Medical Systems posted earnings of $0.31 per share in the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The firm is scheduled to announce its next earnings report on Tuesday, February 20th.
On average, analysts expect that Merit Medical Systems will report full year earnings of $1.27 per share for the current year, with EPS estimates ranging from $1.25 to $1.28. For the next year, analysts forecast that the business will post earnings of $1.43 per share, with EPS estimates ranging from $1.42 to $1.45. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Merit Medical Systems.
Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. The firm had revenue of $179.30 million during the quarter, compared to the consensus estimate of $181.28 million. Merit Medical Systems had a net margin of 4.06% and a return on equity of 9.86%. The company’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share.
MMSI has been the topic of several research analyst reports. Piper Jaffray Companies restated a “buy” rating and set a $45.00 target price on shares of Merit Medical Systems in a research note on Friday, July 28th. Craig Hallum reiterated a “buy” rating and issued a $50.00 price objective (up previously from $42.00) on shares of Merit Medical Systems in a research note on Thursday, July 27th. Bank of America Corporation began coverage on shares of Merit Medical Systems in a research note on Thursday, July 20th. They issued a “buy” rating and a $44.00 price objective on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $45.00 price objective on shares of Merit Medical Systems in a research note on Wednesday, September 6th. Finally, Zacks Investment Research upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Saturday. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $41.65.
COPYRIGHT VIOLATION NOTICE: This article was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/10/30/zacks-brokerages-expect-merit-medical-systems-inc-mmsi-will-announce-earnings-of-0-32-per-share.html.
Merit Medical Systems (NASDAQ MMSI) traded up 2.03% during trading on Monday, hitting $37.75. 317,286 shares of the stock traded hands. The company has a market cap of $1.89 billion, a P/E ratio of 53.77 and a beta of 1.25. Merit Medical Systems has a 52-week low of $20.70 and a 52-week high of $45.50. The firm has a 50-day moving average price of $42.12 and a 200 day moving average price of $38.05.
In related news, Director Kent W. Stanger sold 670 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $42.06, for a total value of $28,180.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the insider now directly owns 35,000 shares of the company’s stock, valued at $1,441,650. The disclosure for this sale can be found here. Insiders sold a total of 67,106 shares of company stock valued at $2,772,344 over the last three months. 5.00% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. purchased a new stake in Merit Medical Systems in the 3rd quarter worth approximately $541,000. Peregrine Capital Management LLC increased its holdings in Merit Medical Systems by 2.1% in the 3rd quarter. Peregrine Capital Management LLC now owns 321,756 shares of the medical instruments supplier’s stock worth $13,626,000 after acquiring an additional 6,522 shares in the last quarter. Nationwide Fund Advisors increased its holdings in Merit Medical Systems by 160.4% in the 3rd quarter. Nationwide Fund Advisors now owns 94,612 shares of the medical instruments supplier’s stock worth $4,007,000 after acquiring an additional 58,276 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Merit Medical Systems by 8.3% in the 3rd quarter. Fisher Asset Management LLC now owns 172,758 shares of the medical instruments supplier’s stock worth $7,316,000 after acquiring an additional 13,241 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Merit Medical Systems in the 2nd quarter worth approximately $300,000. 90.40% of the stock is owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Merit Medical Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merit Medical Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.