Analysts Expect Merit Medical Systems, Inc. (NASDAQ:MMSI) to Post $0.45 EPS

Brokerages expect that Merit Medical Systems, Inc. (NASDAQ:MMSI) will post earnings of $0.45 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Merit Medical Systems’ earnings. The highest EPS estimate is $0.47 and the lowest is $0.43. Merit Medical Systems posted earnings per share of $0.47 during the same quarter last year, which would suggest a negative year over year growth rate of 4.3%. The business is expected to announce its next earnings results after the market closes on Wednesday, October 30th.

According to Zacks, analysts expect that Merit Medical Systems will report full year earnings of $1.75 per share for the current fiscal year, with EPS estimates ranging from $1.73 to $1.78. For the next year, analysts forecast that the company will post earnings of $2.01 per share, with EPS estimates ranging from $2.00 to $2.05. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Merit Medical Systems.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.08). Merit Medical Systems had a net margin of 4.10% and a return on equity of 10.40%. The firm had revenue of $255.50 million for the quarter, compared to the consensus estimate of $258.58 million. During the same period in the previous year, the company posted $0.43 earnings per share. Merit Medical Systems’s quarterly revenue was up 13.7% on a year-over-year basis.

A number of brokerages recently commented on MMSI. Bank of America set a $37.00 price target on Merit Medical Systems and gave the company a “hold” rating in a research note on Friday, September 13th. Sidoti set a $74.00 price target on Merit Medical Systems and gave the company a “buy” rating in a research note on Friday, July 26th. Needham & Company LLC lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Oppenheimer began coverage on Merit Medical Systems in a research note on Monday, September 23rd. They set an “outperform” rating and a $40.00 price target for the company. Finally, Barrington Research began coverage on Merit Medical Systems in a research note on Thursday, September 12th. They set a “buy” rating and a $59.00 price target for the company. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Merit Medical Systems has a consensus rating of “Hold” and a consensus target price of $52.11.

In other news, Director F. Ann Millner sold 3,780 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $36.67, for a total value of $138,612.60. Following the completion of the sale, the director now directly owns 13,298 shares of the company’s stock, valued at approximately $487,637.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fred P. Lampropoulos sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $30.72, for a total value of $4,608,000.00. Following the completion of the sale, the chief executive officer now directly owns 929,991 shares of the company’s stock, valued at $28,569,323.52. The disclosure for this sale can be found here. Insiders sold a total of 234,530 shares of company stock valued at $7,853,050 over the last ninety days. Corporate insiders own 4.75% of the company’s stock.

Large investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Merit Medical Systems by 6.2% in the second quarter. BlackRock Inc. now owns 8,567,745 shares of the medical instruments supplier’s stock worth $510,294,000 after buying an additional 502,387 shares during the period. FMR LLC raised its holdings in shares of Merit Medical Systems by 6.1% in the first quarter. FMR LLC now owns 1,735,494 shares of the medical instruments supplier’s stock worth $107,306,000 after buying an additional 99,015 shares during the period. Macquarie Group Ltd. raised its holdings in shares of Merit Medical Systems by 6.4% in the second quarter. Macquarie Group Ltd. now owns 1,213,409 shares of the medical instruments supplier’s stock worth $72,271,000 after buying an additional 73,409 shares during the period. Invesco Ltd. raised its holdings in shares of Merit Medical Systems by 65.4% in the second quarter. Invesco Ltd. now owns 971,691 shares of the medical instruments supplier’s stock worth $57,874,000 after buying an additional 384,332 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of Merit Medical Systems by 19.1% in the second quarter. Jennison Associates LLC now owns 934,955 shares of the medical instruments supplier’s stock worth $55,686,000 after buying an additional 150,000 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems stock traded down $0.14 during midday trading on Tuesday, reaching $30.37. 312,150 shares of the stock traded hands, compared to its average volume of 551,117. The stock’s fifty day moving average is $29.79 and its 200-day moving average is $46.46. Merit Medical Systems has a 12 month low of $25.67 and a 12 month high of $64.03. The stock has a market cap of $1.69 billion, a P/E ratio of 17.97, a PEG ratio of 1.68 and a beta of 1.07. The company has a quick ratio of 1.27, a current ratio of 2.42 and a debt-to-equity ratio of 0.48.

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

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