Brokerages Expect Merit Medical Systems, Inc. (MMSI) Will Post Earnings of $0.45 Per Share

Wall Street analysts predict that Merit Medical Systems, Inc. (NASDAQ:MMSI) will post $0.45 earnings per share for the current quarter, according to Zacks. Five analysts have provided estimates for Merit Medical Systems’ earnings. The highest EPS estimate is $0.48 and the lowest is $0.42. Merit Medical Systems reported earnings per share of $0.33 during the same quarter last year, which would suggest a positive year over year growth rate of 36.4%. The company is scheduled to report its next earnings report on Wednesday, February 27th.

On average, analysts expect that Merit Medical Systems will report full year earnings of $1.66 per share for the current year, with EPS estimates ranging from $1.63 to $1.69. For the next fiscal year, analysts expect that the business will report earnings of $1.97 per share, with EPS estimates ranging from $1.90 to $2.07. Zacks’ earnings per share averages are a mean average based on a survey of research firms that cover Merit Medical Systems.

Several equities analysts recently weighed in on the company. Zacks Investment Research upgraded Merit Medical Systems from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Thursday, January 3rd. Canaccord Genuity boosted their price objective on Merit Medical Systems from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, October 26th. ValuEngine upgraded Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 24th. BidaskClub downgraded Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $73.00 price objective on shares of Merit Medical Systems in a research report on Monday, December 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Merit Medical Systems currently has an average rating of “Buy” and a consensus price target of $67.60.

In other news, COO Ronald Frost sold 4,743 shares of Merit Medical Systems stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $61.30, for a total value of $290,745.90. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Justin J. Lampropoulos sold 20,000 shares of Merit Medical Systems stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $61.01, for a total value of $1,220,200.00. Following the completion of the sale, the executive vice president now directly owns 20,000 shares in the company, valued at $1,220,200. The disclosure for this sale can be found here. Insiders sold 26,743 shares of company stock worth $1,633,506 over the last 90 days. Company insiders own 5.16% of the company’s stock.

Several hedge funds have recently modified their holdings of MMSI. Point72 Asset Management L.P. increased its stake in Merit Medical Systems by 950.2% during the third 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. BlackRock Inc. increased its stake in Merit Medical Systems by 13.3% during the third 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. Jennison Associates LLC bought a new stake in Merit Medical Systems during the fourth quarter worth approximately $33,885,000. Vanguard Group Inc. increased its stake in Merit Medical Systems by 11.0% during the third 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. Finally, Vanguard Group Inc increased its stake in Merit Medical Systems by 11.0% during the third 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. 98.53% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ MMSI remained flat at $$57.86 on Wednesday. The company had a trading volume of 201,176 shares, compared to its average volume of 305,606. The stock has a market capitalization of $3.16 billion, a P/E ratio of 45.20, a PEG ratio of 2.18 and a beta of 1.12. The company has a quick ratio of 1.47, a current ratio of 2.77 and a debt-to-equity ratio of 0.20. Merit Medical Systems has a 12 month low of $42.45 and a 12 month high of $66.34.

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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