Merit Medical Systems, Inc. (MMSI) Expected to Announce Earnings of $0.42 Per Share

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Analysts expect that Merit Medical Systems, Inc. (NASDAQ:MMSI) will report earnings of $0.42 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Merit Medical Systems’ earnings. The lowest EPS estimate is $0.41 and the highest is $0.43. Merit Medical Systems posted earnings of $0.32 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 31.3%. The company is expected to issue its next earnings report after the market closes on Thursday, October 25th.

On average, analysts expect that Merit Medical Systems will report full-year earnings of $1.64 per share for the current year, with EPS estimates ranging from $1.62 to $1.66. For the next fiscal year, analysts anticipate 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 an average based on a survey of sell-side research firms that cover Merit Medical Systems.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data 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 business had revenue of $224.81 million during the quarter, compared to analyst estimates of $214.64 million. Merit Medical Systems had a return on equity of 10.48% and a net margin of 2.44%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same period last year, the company posted $0.36 EPS.

A number of analysts have recently issued reports on the company. BidaskClub upgraded Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 27th. Canaccord Genuity increased their target price on Merit Medical Systems from $60.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Zacks Investment Research upgraded Merit Medical Systems from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Tuesday, June 26th. Needham & Company LLC increased their price objective on Merit Medical Systems from $67.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Finally, Barrington Research increased their price objective on Merit Medical Systems to $69.00 and gave the stock an “outperform” rating in a report on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Merit Medical Systems currently has a consensus rating of “Buy” and a consensus price target of $67.10.

Shares of MMSI traded down $1.09 during trading hours on Friday, hitting $62.72. 326,000 shares of the company were exchanged, compared to its average volume of 391,504. The firm has a market cap of $3.56 billion, a PE ratio of 50.52, a P/E/G ratio of 3.07 and a beta of 1.38. The company has a quick ratio of 1.45, a current ratio of 2.66 and a debt-to-equity ratio of 0.56. Merit Medical Systems has a one year low of $36.21 and a one year high of $66.34.

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Hawaiian Bank bought a new position in Merit Medical Systems during the third quarter valued at about $107,000. Mount Yale Investment Advisors LLC bought a new position in Merit Medical Systems during the first quarter valued at about $156,000. Campbell & CO Investment Adviser LLC bought a new position in Merit Medical Systems during the second quarter valued at about $206,000. Mutual Advisors LLC acquired a new stake in shares of Merit Medical Systems in the second quarter valued at about $208,000. Finally, Intrust Bank NA acquired a new stake in shares of Merit Medical Systems in the second quarter valued at about $211,000. Institutional investors own 86.20% 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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