Brokerages Expect Merit Medical Systems, Inc. (NASDAQ:MMSI) to Announce $0.27 Earnings Per Share

Equities analysts predict that Merit Medical Systems, Inc. (NASDAQ:MMSI) will announce earnings per share of $0.27 for the current quarter, according to Zacks. Four analysts have issued estimates for Merit Medical Systems’ earnings, with the lowest EPS estimate coming in at $0.20 and the highest estimate coming in at $0.35. Merit Medical Systems reported earnings of $0.37 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 27%. The firm is expected to report its next earnings results on Tuesday, April 28th.

On average, analysts expect that Merit Medical Systems will report full-year earnings of $1.56 per share for the current fiscal year, with EPS estimates ranging from $1.52 to $1.62. For the next fiscal year, analysts expect that the firm will report earnings of $1.72 per share, with EPS estimates ranging from $1.50 to $1.85. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Merit Medical Systems.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Monday, February 24th. The medical instruments supplier reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $257.92 million for the quarter, compared to analyst estimates of $252.31 million. Merit Medical Systems had a return on equity of 8.67% and a net margin of 0.55%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 earnings per share.

A number of analysts recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $50.00 target price (up previously from $42.00) on shares of Merit Medical Systems in a research report on Tuesday, February 25th. Wells Fargo & Co lifted their target price on Merit Medical Systems from $26.00 to $33.00 and gave the company an “underweight” rating in a research report on Tuesday, February 25th. Raymond James lifted their target price on Merit Medical Systems from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Oppenheimer lifted their target price on Merit Medical Systems from to in a research report on Friday, February 7th. Finally, ValuEngine raised Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Saturday, February 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Merit Medical Systems presently has a consensus rating of “Buy” and an average target price of $44.50.

In other Merit Medical Systems news, Director Franklin J. Miller sold 2,331 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $35.25, for a total transaction of $82,167.75. Following the transaction, the director now owns 4,665 shares of the company’s stock, valued at $164,441.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Franklin J. Miller sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $38.07, for a total value of $571,050.00. Following the transaction, the director now directly owns 17,334 shares in the company, valued at approximately $659,905.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,969 shares of company stock worth $900,749. Company insiders own 4.75% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in MMSI. Municipal Employees Retirement System of Michigan grew its position in shares of Merit Medical Systems by 1.9% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 16,890 shares of the medical instruments supplier’s stock valued at $527,000 after purchasing an additional 320 shares during the last quarter. Amalgamated Bank grew its position in shares of Merit Medical Systems by 3.6% in the fourth quarter. Amalgamated Bank now owns 10,327 shares of the medical instruments supplier’s stock valued at $322,000 after purchasing an additional 363 shares during the last quarter. Mason Street Advisors LLC grew its position in shares of Merit Medical Systems by 2.6% in the fourth quarter. Mason Street Advisors LLC now owns 19,230 shares of the medical instruments supplier’s stock valued at $600,000 after purchasing an additional 495 shares during the last quarter. Great West Life Assurance Co. Can grew its position in shares of Merit Medical Systems by 0.8% in the fourth quarter. Great West Life Assurance Co. Can now owns 68,035 shares of the medical instruments supplier’s stock valued at $2,108,000 after purchasing an additional 539 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY grew its position in shares of Merit Medical Systems by 3.2% in the third quarter. Metropolitan Life Insurance Co NY now owns 17,613 shares of the medical instruments supplier’s stock valued at $536,000 after purchasing an additional 554 shares during the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:MMSI traded down $0.02 during midday trading on Monday, reaching $32.98. The company had a trading volume of 479,393 shares, compared to its average volume of 703,085. The company has a quick ratio of 1.26, a current ratio of 2.50 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average price is $36.26 and its 200 day moving average price is $31.92. The stock has a market cap of $1.91 billion, a PE ratio of 366.49, a P/E/G ratio of 1.75 and a beta of 0.85. Merit Medical Systems has a 1-year low of $19.50 and a 1-year high of $63.64.

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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