Merit Medical Systems, Inc. (NASDAQ:MMSI) Expected to Announce Quarterly Sales of $263.46 Million

Brokerages predict that Merit Medical Systems, Inc. (NASDAQ:MMSI – Get Rating) will post sales of $263.46 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Merit Medical Systems’ earnings. The highest sales estimate is $265.42 million and the lowest is $261.69 million. Merit Medical Systems reported sales of $248.91 million in the same quarter last year, which would suggest a positive year over year growth rate of 5.8%. The business is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Merit Medical Systems will report full year sales of $1.13 billion for the current year, with estimates ranging from $1.12 billion to $1.13 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.19 billion, with estimates ranging from $1.18 billion to $1.19 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Merit Medical Systems.

Merit Medical Systems (NASDAQ:MMSI – Get Rating) last issued its quarterly earnings results on Thursday, February 24th. The medical instruments supplier reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.21. The firm had revenue of $278.50 million for the quarter, compared to analysts’ expectations of $270.96 million. Merit Medical Systems had a return on equity of 13.54% and a net margin of 4.51%. Merit Medical Systems’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted $0.54 EPS.

Several equities analysts have weighed in on MMSI shares. Barrington Research lifted their target price on Merit Medical Systems from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, February 25th. Raymond James lowered their target price on Merit Medical Systems from $73.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, February 25th. TheStreet raised Merit Medical Systems from a “c” rating to a “b-” rating in a research note on Friday, February 25th. Piper Sandler lowered their target price on Merit Medical Systems from $79.00 to $75.00 in a research note on Friday, February 25th. Finally, Needham & Company LLC lowered their target price on Merit Medical Systems from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, February 25th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Merit Medical Systems currently has a consensus rating of “Buy” and an average price target of $75.20.

Several hedge funds and other institutional investors have recently made changes to their positions in MMSI. BlackRock Inc. lifted its holdings in Merit Medical Systems by 10.8% in the 4th quarter. BlackRock Inc. now owns 8,334,516 shares of the medical instruments supplier’s stock worth $519,240,000 after purchasing an additional 809,628 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in Merit Medical Systems by 4.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,510,787 shares of the medical instruments supplier’s stock worth $156,422,000 after purchasing an additional 117,795 shares during the last quarter. State Street Corp lifted its holdings in Merit Medical Systems by 3.2% in the 4th quarter. State Street Corp now owns 1,914,449 shares of the medical instruments supplier’s stock worth $119,270,000 after purchasing an additional 58,884 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Merit Medical Systems by 1.0% in the 3rd quarter. Macquarie Group Ltd. now owns 1,439,274 shares of the medical instruments supplier’s stock worth $103,340,000 after purchasing an additional 14,291 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in Merit Medical Systems by 40.1% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,182,149 shares of the medical instruments supplier’s stock worth $73,648,000 after purchasing an additional 338,655 shares during the last quarter. 95.93% of the stock is owned by institutional investors and hedge funds.

NASDAQ:MMSI traded down $0.60 on Friday, hitting $67.41. 8,414 shares of the company’s stock traded hands, compared to its average volume of 350,413. The company has a current ratio of 2.04, a quick ratio of 1.10 and a debt-to-equity ratio of 0.23. Merit Medical Systems has a 1 year low of $51.66 and a 1 year high of $73.85. The firm has a 50-day moving average price of $61.89 and a 200-day moving average price of $63.99. The company has a market cap of $3.81 billion, a PE ratio of 79.60, a price-to-earnings-growth ratio of 2.60 and a beta of 1.03.

Merit Medical Systems Company Profile (Get Rating)

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. The company operates in two segments, Cardiovascular and Endoscopy.

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