Brokers Set Expectations for Merit Medical Systems, Inc.’s Q3 2019 Earnings (MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSI) – SunTrust Banks increased their Q3 2019 EPS estimates for Merit Medical Systems in a research note issued to investors on Wednesday, November 28th. SunTrust Banks analyst B. Nudell now expects that the medical instruments supplier will post earnings of $0.52 per share for the quarter, up from their previous forecast of $0.50. SunTrust Banks has a “Buy” rating and a $68.00 price objective on the stock. SunTrust Banks also issued estimates for Merit Medical Systems’ FY2020 earnings at $2.26 EPS and FY2021 earnings at $2.60 EPS.

Several other brokerages have also recently issued reports on MMSI. Sidoti set a $79.00 price objective on shares of Merit Medical Systems and gave the company a “buy” rating in a research note on Tuesday, October 2nd. Bank of America cut shares of Merit Medical Systems from a “buy” rating to an “underperform” rating and set a $64.00 price objective for the company. in a research note on Tuesday, August 7th. Zacks Investment Research raised shares of Merit Medical Systems from a “sell” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Monday, October 29th. Piper Jaffray Companies upped their price objective on shares of Merit Medical Systems from $58.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, October 2nd. Finally, ValuEngine raised shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $68.10.

Shares of NASDAQ MMSI opened at $63.05 on Monday. Merit Medical Systems has a 12-month low of $41.25 and a 12-month high of $66.34. The stock has a market cap of $3.46 billion, a P/E ratio of 49.26, a price-to-earnings-growth ratio of 2.90 and a beta of 1.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.77 and a quick ratio of 1.47.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Thursday, October 25th. The medical instruments supplier reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.05. Merit Medical Systems had a net margin of 4.72% and a return on equity of 10.86%. The company had revenue of $221.66 million during the quarter, compared to analysts’ expectations of $217.62 million.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Merit Medical Systems by 13.3% in the 3rd quarter. BlackRock Inc. now owns 7,985,361 shares of the medical instruments supplier’s stock worth $490,700,000 after acquiring an additional 939,589 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Merit Medical Systems by 11.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,286,818 shares of the medical instruments supplier’s stock worth $324,875,000 after acquiring an additional 522,994 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Merit Medical Systems by 1.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 2,045,983 shares of the medical instruments supplier’s stock worth $125,725,000 after acquiring an additional 19,863 shares during the last quarter. Partner Fund Management L.P. lifted its holdings in shares of Merit Medical Systems by 69.9% in the 2nd quarter. Partner Fund Management L.P. now owns 1,455,616 shares of the medical instruments supplier’s stock worth $74,528,000 after acquiring an additional 598,822 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Merit Medical Systems by 950.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,345,468 shares of the medical instruments supplier’s stock worth $82,679,000 after acquiring an additional 1,217,352 shares during the last quarter. 88.59% of the stock is owned by institutional investors and hedge funds.

In other news, Director F. Ann Millner sold 9,593 shares of the stock in a transaction that occurred on Wednesday, October 31st. The shares were 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 owns 7,891 shares of the company’s stock, valued at approximately $449,155.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Ronald Frost sold 5,257 shares of the stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $61.31, for a total transaction of $322,306.67. Following the completion of the sale, the chief operating officer now directly owns 5,257 shares of the company’s stock, valued at approximately $322,306.67. The disclosure for this sale can be found here. In the last three months, insiders sold 39,593 shares of company stock valued at $2,379,286. Corporate insiders own 5.00% of the company’s stock.

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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Earnings History and Estimates for Merit Medical Systems (NASDAQ:MMSI)

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