Merit Medical Systems, Inc. (NASDAQ:MMSI) – Equities research analysts at SunTrust Banks lifted their Q3 2018 earnings per share (EPS) estimates for Merit Medical Systems in a report released on Thursday, May 17th. SunTrust Banks analyst B. Nudell now forecasts that the medical instruments supplier will earn $0.43 per share for the quarter, up from their prior forecast of $0.42. SunTrust Banks has a “Buy” rating and a $62.00 price target on the stock. SunTrust Banks also issued estimates for Merit Medical Systems’ Q4 2018 earnings at $0.50 EPS, Q1 2019 earnings at $0.36 EPS, Q2 2019 earnings at $0.48 EPS, Q3 2019 earnings at $0.50 EPS, Q4 2019 earnings at $0.58 EPS, FY2019 earnings at $1.92 EPS, FY2020 earnings at $2.22 EPS and FY2021 earnings at $2.53 EPS.
Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Wednesday, April 25th. The medical instruments supplier reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Merit Medical Systems had a net margin of 2.37% and a return on equity of 10.01%. The company had revenue of $203.04 million for the quarter, compared to the consensus estimate of $192.60 million. During the same period in the previous year, the firm earned $0.28 earnings per share. Merit Medical Systems’s quarterly revenue was up 18.7% compared to the same quarter last year.
MMSI has been the subject of a number of other research reports. BidaskClub cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Friday, April 20th. Zacks Investment Research cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. ValuEngine upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Raymond James lifted their price objective on shares of Merit Medical Systems from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Thursday, April 26th. Finally, Canaccord Genuity lifted their price objective on shares of Merit Medical Systems from $50.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, March 1st. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $50.42.
Shares of Merit Medical Systems opened at $53.70 on Monday, Marketbeat Ratings reports. The company has a quick ratio of 1.42, a current ratio of 2.76 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $2.71 billion, a P/E ratio of 41.95, a price-to-earnings-growth ratio of 2.53 and a beta of 1.33. Merit Medical Systems has a fifty-two week low of $32.85 and a fifty-two week high of $53.75.
A number of hedge funds and other institutional investors have recently bought and sold shares of MMSI. Virtus Fund Advisers LLC acquired a new position in Merit Medical Systems during the 4th quarter worth approximately $160,000. We Are One Seven LLC purchased a new stake in shares of Merit Medical Systems during the 4th quarter worth approximately $170,000. Van Hulzen Asset Management LLC purchased a new stake in shares of Merit Medical Systems during the 1st quarter worth approximately $200,000. BTC Capital Management Inc. purchased a new stake in shares of Merit Medical Systems during the 1st quarter worth approximately $206,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Merit Medical Systems by 1,336.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,842 shares of the medical instruments supplier’s stock worth $221,000 after buying an additional 4,505 shares during the last quarter. Institutional investors own 95.97% of the company’s stock.
About Merit Medical Systems
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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