Merit Medical Systems, Inc. (MMSI) Expected to Post Quarterly Sales of $187.59 Million

Equities research analysts predict that Merit Medical Systems, Inc. (NASDAQ:MMSI) will announce $187.59 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Merit Medical Systems’ earnings, with the lowest sales estimate coming in at $185.66 million and the highest estimate coming in at $189.40 million. Merit Medical Systems reported sales of $157.72 million in the same quarter last year, which suggests a positive year-over-year growth rate of 18.9%. The firm is expected to report its next quarterly earnings results 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 financial year, analysts expect 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 announced its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.32 EPS for the quarter, beating 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 company had revenue of $179.30 million for the quarter, compared to analyst estimates of $181.28 million. During the same quarter in the prior year, the company earned $0.26 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year.

A number of research analysts recently weighed in on MMSI shares. Zacks Investment Research raised Merit Medical Systems from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Saturday, October 28th. SunTrust Banks set a $47.00 price target on Merit Medical Systems and gave the stock a “buy” rating in a research note on Thursday, November 16th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $51.00 price target (up from $46.00) on shares of Merit Medical Systems in a research note on Thursday, November 30th. ValuEngine raised Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st. Finally, BidaskClub downgraded Merit Medical Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $43.77.

Shares of Merit Medical Systems (MMSI) traded up $0.85 during trading on Friday, hitting $45.30. The company had a trading volume of 122,544 shares, compared to its average volume of 247,557. Merit Medical Systems has a 52 week low of $24.23 and a 52 week high of $46.40. The company has a current ratio of 2.78, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39. The company has a market cap of $2,231.34, a price-to-earnings ratio of 74.26, a price-to-earnings-growth 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 that occurred on Saturday, December 29th. The stock was sold at an average price of $43.93, for a total value of $439,300.00. Following the completion of the sale, the director now directly owns 21,244 shares of the company’s stock, valued at $933,248.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,000 shares of company stock worth $1,416,379. 5.00% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of MMSI. Schwab Charles Investment Management Inc. raised its stake in shares of Merit Medical Systems by 11.3% in 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 raised its stake in shares of 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 worth $3,725,000 after purchasing an additional 11,724 shares during the last quarter. Federated Investors Inc. PA raised its stake in shares of 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 worth $259,000 after purchasing an additional 1,444 shares during the last quarter. Neuberger Berman Group LLC purchased a new stake in shares of Merit Medical Systems in the second quarter worth approximately $763,000. Finally, Principal Financial Group Inc. raised its stake in shares of 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 worth $15,648,000 after purchasing an additional 15,345 shares during the last quarter. 90.65% of the stock is owned by hedge funds and other institutional investors.

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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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