Merit Medical Systems, Inc. (MMSI) Expected to Post Quarterly Sales of $215.82 Million

Equities analysts forecast that Merit Medical Systems, Inc. (NASDAQ:MMSI) will announce sales of $215.82 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Merit Medical Systems’ earnings. The highest sales estimate is $219.69 million and the lowest is $207.73 million. Merit Medical Systems reported sales of $179.34 million during the same quarter last year, which suggests a positive year over year growth rate of 20.3%. The company is expected to announce its next earnings results on Wednesday, October 24th.

According to Zacks, analysts expect that Merit Medical Systems will report full year sales of $869.39 million for the current fiscal year, with estimates ranging from $847.29 million to $875.66 million. For the next fiscal year, analysts forecast that the business will report sales of $941.59 million per share, with estimates ranging from $917.45 million to $976.36 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Merit Medical Systems.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Monday, July 23rd. The medical instruments supplier reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $224.81 million during the quarter, compared to analysts’ expectations of $214.64 million. Merit Medical Systems had a net margin of 2.44% and a return on equity of 10.48%. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS.

A number of equities analysts have weighed in on the stock. 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 report on Tuesday, August 7th. Zacks Investment Research upgraded shares of Merit Medical Systems from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Barrington Research upped their target price on shares of Merit Medical Systems from $50.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, July 24th. Raymond James upped their target price on shares of Merit Medical Systems from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, July 24th. Finally, Canaccord Genuity upped their target price on shares of Merit Medical Systems from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $60.44.

Merit Medical Systems traded down $0.30, reaching $54.75, on Tuesday, Marketbeat reports. The stock had a trading volume of 205,862 shares, compared to its average volume of 557,691. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.66 and a quick ratio of 1.45. The stock has a market cap of $3.01 billion, a P/E ratio of 42.77, a PEG ratio of 2.60 and a beta of 1.32. Merit Medical Systems has a 12-month low of $36.21 and a 12-month high of $61.17.

In related news, Director Michael E. Stillabower sold 12,050 shares of the stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $50.50, for a total transaction of $608,525.00. Following the sale, the director now owns 55,668 shares in the company, valued at $2,811,234. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Justin J. Lampropoulos sold 14,000 shares of the stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $51.31, for a total transaction of $718,340.00. Following the sale, the executive vice president now owns 14,000 shares in the company, valued at approximately $718,340. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,756 shares of company stock worth $2,756,764. Company insiders own 5.00% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MMSI. Rockefeller Capital Management L.P. acquired a new stake in Merit Medical Systems during the first quarter worth about $35,317,000. BlackRock Inc. raised its stake in Merit Medical Systems by 11.0% during the second quarter. BlackRock Inc. now owns 7,045,772 shares of the medical instruments supplier’s stock worth $360,744,000 after acquiring an additional 698,458 shares during the period. Frontier Capital Management Co. LLC raised its stake in Merit Medical Systems by 74.8% during the second quarter. Frontier Capital Management Co. LLC now owns 916,409 shares of the medical instruments supplier’s stock worth $46,920,000 after acquiring an additional 392,203 shares during the period. Redwood Investments LLC acquired a new stake in Merit Medical Systems during the second quarter worth about $17,087,000. Finally, Carillon Tower Advisers Inc. raised its stake in Merit Medical Systems by 22.2% during the second quarter. Carillon Tower Advisers Inc. now owns 1,068,907 shares of the medical instruments supplier’s stock worth $54,728,000 after acquiring an additional 194,196 shares during the period. Hedge funds and other institutional investors own 83.25% of the company’s stock.

Merit Medical Systems Company Profile

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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