Merit Medical Systems, Inc. (NASDAQ:MMSI) Expected to Announce Quarterly Sales of $252.28 Million

Wall Street analysts expect Merit Medical Systems, Inc. (NASDAQ:MMSI) to report sales of $252.28 million for the current quarter, according to Zacks. Four analysts have issued estimates for Merit Medical Systems’ earnings, with estimates ranging from $249.09 million to $255.80 million. Merit Medical Systems posted sales of $233.25 million during the same quarter last year, which suggests a positive year over year growth rate of 8.2%. The company is expected to announce its next earnings report on Tuesday, February 25th.

On average, analysts expect that Merit Medical Systems will report full year sales of $989.20 million for the current fiscal year, with estimates ranging from $986.02 million to $992.73 million. For the next fiscal year, analysts anticipate that the company will post sales of $1.05 billion, with estimates ranging from $1.04 billion to $1.06 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Merit Medical Systems.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.17). Merit Medical Systems had a net margin of 1.94% and a return on equity of 9.23%. The business had revenue of $243.05 million during the quarter, compared to the consensus estimate of $248.53 million. During the same period last year, the firm earned $0.47 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year.

MMSI has been the topic of a number of analyst reports. TheStreet cut shares of Merit Medical Systems from a “b-” rating to a “c+” rating in a research note on Monday, August 26th. BidaskClub upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 23rd. Barrington Research decreased their price objective on Merit Medical Systems from $59.00 to $31.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Canaccord Genuity reiterated a “buy” rating and issued a $37.00 price objective (down from $53.00) on shares of Merit Medical Systems in a research note on Friday, September 20th. Finally, ValuEngine raised Merit Medical Systems from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $47.89.

In other news, CFO Raul Jr. Parra bought 2,525 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was bought at an average price of $25.50 per share, for a total transaction of $64,387.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Enterprise Associates 14 New bought 935,000 shares of Merit Medical Systems stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $15.59 per share, for a total transaction of $14,576,650.00. 4.75% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Investment Advisory Services LLC bought a new position in Merit Medical Systems in the 2nd quarter valued at $29,000. Meeder Asset Management Inc. acquired a new position in Merit Medical Systems in the second quarter worth $32,000. Financial Gravity Wealth Inc. boosted its stake in Merit Medical Systems by 5,241.7% in the second quarter. Financial Gravity Wealth Inc. now owns 641 shares of the medical instruments supplier’s stock worth $38,000 after purchasing an additional 629 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Merit Medical Systems by 20,825.0% during the third quarter. Tower Research Capital LLC TRC now owns 1,674 shares of the medical instruments supplier’s stock worth $51,000 after purchasing an additional 1,666 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Merit Medical Systems by 803.1% during the third quarter. Nisa Investment Advisors LLC now owns 2,935 shares of the medical instruments supplier’s stock worth $89,000 after purchasing an additional 2,610 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

Shares of Merit Medical Systems stock traded up $0.68 during trading on Monday, hitting $29.14. 1,049,543 shares of the company’s stock traded hands, compared to its average volume of 611,231. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.88 and a quick ratio of 1.47. The firm’s fifty day moving average price is $27.72 and its 200 day moving average price is $39.68. Merit Medical Systems has a twelve month low of $19.50 and a twelve month high of $63.64. The company has a market cap of $1.61 billion, a PE ratio of 17.24, a PEG ratio of 2.35 and a beta of 1.08.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc manufactures and markets 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 peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.

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