Brokerages expect Merit Medical Systems, Inc. (NASDAQ:MMSI) to post sales of $226.97 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Merit Medical Systems’ earnings. The lowest sales estimate is $225.23 million and the highest is $229.08 million. Merit Medical Systems reported sales of $190.90 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 18.9%. The firm is scheduled to announce its next earnings results on Wednesday, February 27th.
According to Zacks, analysts expect that Merit Medical Systems will report full-year sales of $875.49 million for the current year, with estimates ranging from $870.46 million to $878.58 million. For the next year, analysts expect that the company will post sales of $988.10 million, with estimates ranging from $934.00 million to $1.04 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Merit Medical Systems.
Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, October 25th. The medical instruments supplier reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. Merit Medical Systems had a return on equity of 10.86% and a net margin of 4.72%. The business had revenue of $221.66 million for the quarter, compared to the consensus estimate of $217.62 million.
MMSI has been the topic of a number of research reports. Bank of America downgraded Merit Medical Systems from a “buy” rating to an “underperform” rating and set a $64.00 price target on the stock. in a research note on Tuesday, August 7th. SunTrust Banks increased their price objective on Merit Medical Systems to $68.00 and gave the stock a “buy” rating in a research note on Monday, August 27th. Needham & Company LLC increased their price objective on Merit Medical Systems from $67.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. Barrington Research increased their price objective on Merit Medical Systems to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 2nd. Finally, Piper Jaffray Companies increased their price objective on Merit Medical Systems from $58.00 to $72.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $68.10.
In other news, COO Ronald Frost sold 4,743 shares of the stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $61.30, for a total value of $290,745.90. Following the completion of the sale, the chief operating officer now directly owns 4,743 shares of the company’s stock, valued at $290,745.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director F. Ann Millner sold 9,593 shares of the stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $56.92, for a total value of $546,033.56. Following the completion of the sale, the director now directly owns 7,891 shares of the company’s stock, valued at $449,155.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,593 shares of company stock valued at $2,379,286. Company insiders own 5.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. First Hawaiian Bank bought a new position in shares of Merit Medical Systems in the third quarter valued at approximately $107,000. Alpha Cubed Investments LLC bought a new position in shares of Merit Medical Systems in the third quarter valued at approximately $211,000. Creative Planning bought a new position in shares of Merit Medical Systems in the third quarter valued at approximately $221,000. Mutual Advisors LLC bought a new position in Merit Medical Systems during the second quarter valued at $208,000. Finally, Everence Capital Management Inc. bought a new position in Merit Medical Systems during the third quarter valued at $252,000. 88.59% of the stock is owned by institutional investors.
MMSI stock opened at $62.21 on Friday. Merit Medical Systems has a fifty-two week low of $41.25 and a fifty-two week high of $66.34. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 2.77. The company has a market cap of $3.20 billion, a P/E ratio of 48.60, a PEG ratio of 2.70 and a beta of 1.19.
About Merit Medical Systems
Merit Medical Systems, Inc designs, develops, manufactures, and markets various disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.
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