Zacks: Analysts Expect Merit Medical Systems, Inc. (MMSI) to Post $0.42 Earnings Per Share

Analysts expect Merit Medical Systems, Inc. (NASDAQ:MMSI) to post earnings of $0.42 per share for the current quarter, Zacks reports. Five analysts have issued estimates for Merit Medical Systems’ earnings, with the highest EPS estimate coming in at $0.43 and the lowest estimate coming in at $0.41. Merit Medical Systems posted earnings of $0.32 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 31.3%. The company is expected to announce its next earnings report on Wednesday, October 24th.

On average, analysts expect that Merit Medical Systems will report full year earnings of $1.64 per share for the current fiscal year, with EPS estimates ranging from $1.62 to $1.66. For the next year, analysts forecast that the business will post earnings of $1.90 per share, with EPS estimates ranging from $1.85 to $1.93. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Merit Medical Systems.

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

Several equities analysts recently issued reports on MMSI shares. BidaskClub cut Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Merit Medical Systems in a research report on Friday, June 1st. Bank of America cut Merit Medical Systems from a “buy” rating to an “underperform” rating and set a $64.00 price objective on the stock. in a research report on Tuesday, August 7th. Zacks Investment Research raised Merit Medical Systems from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, Barrington Research upped their price objective on Merit Medical Systems from $50.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $63.25.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MMSI. Mount Yale Investment Advisors LLC bought a new position in shares of Merit Medical Systems during the 1st quarter valued at $156,000. Campbell & CO Investment Adviser LLC bought a new position in Merit Medical Systems in the 2nd quarter worth $206,000. Mutual Advisors LLC bought a new position in Merit Medical Systems in the 2nd quarter worth $208,000. Intrust Bank NA bought a new position in Merit Medical Systems in the 2nd quarter worth $211,000. Finally, Advisors Asset Management Inc. raised its holdings in Merit Medical Systems by 10,444.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 471,864 shares of the medical instruments supplier’s stock worth $219,000 after purchasing an additional 467,389 shares during the period. 86.96% of the stock is currently owned by hedge funds and other institutional investors.

MMSI stock traded up $0.55 during midday trading on Tuesday, hitting $61.75. The company’s stock had a trading volume of 988 shares, compared to its average volume of 326,033. The stock has a market capitalization of $3.36 billion, a PE ratio of 48.09, a price-to-earnings-growth ratio of 2.90 and a beta of 1.33. Merit Medical Systems has a 12 month low of $36.21 and a 12 month high of $63.20. The company has a current ratio of 2.66, a quick ratio of 1.45 and a debt-to-equity ratio of 0.56.

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

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