SunTrust Banks Brokers Boost Earnings Estimates for Merit Medical Systems, Inc. (MMSI)

Merit Medical Systems, Inc. (NASDAQ:MMSI) – Stock analysts at SunTrust Banks raised their Q2 2018 earnings per share (EPS) estimates for Merit Medical Systems in a report released on Tuesday. SunTrust Banks analyst B. Nudell now expects that the medical instruments supplier will earn $0.43 per share for the quarter, up from their previous estimate of $0.37. SunTrust Banks has a “Buy” rating and a $55.00 price objective on the stock. SunTrust Banks also issued estimates for Merit Medical Systems’ Q3 2018 earnings at $0.42 EPS, Q4 2018 earnings at $0.45 EPS, FY2018 earnings at $1.64 EPS and FY2019 earnings at $1.86 EPS.

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Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The company had revenue of $190.90 million for the quarter, compared to analyst estimates of $187.62 million. Merit Medical Systems had a return on equity of 9.65% and a net margin of 3.78%. Merit Medical Systems’s revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 earnings per share.

Other equities research analysts have also issued research reports about the company. Barrington Research raised Merit Medical Systems from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Thursday, March 1st. Zacks Investment Research downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. ValuEngine downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BidaskClub upgraded Merit Medical Systems from a “sell” rating to a “hold” rating in a report on Thursday, January 18th. Finally, Canaccord Genuity increased their price objective on Merit Medical Systems from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, March 1st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Merit Medical Systems presently has a consensus rating of “Buy” and a consensus target price of $46.42.

Shares of Merit Medical Systems (MMSI) opened at $45.95 on Thursday. The company has a market capitalization of $2,322.33, a PE ratio of 35.81, a PEG ratio of 2.17 and a beta of 1.28. The company has a current ratio of 2.73, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38. Merit Medical Systems has a 1 year low of $27.65 and a 1 year high of $49.50.

A number of hedge funds have recently bought and sold shares of the business. Eagle Asset Management Inc. grew its stake in Merit Medical Systems by 209.5% in the fourth quarter. Eagle Asset Management Inc. now owns 1,874,146 shares of the medical instruments supplier’s stock valued at $81,018,000 after purchasing an additional 1,268,635 shares in the last quarter. Carillon Tower Advisers Inc. bought a new position in Merit Medical Systems in the fourth quarter valued at approximately $13,788,000. Perceptive Advisors LLC grew its stake in Merit Medical Systems by 774.0% in the fourth quarter. Perceptive Advisors LLC now owns 874,013 shares of the medical instruments supplier’s stock valued at $37,757,000 after purchasing an additional 774,013 shares in the last quarter. Rockefeller Financial Services Inc. grew its stake in Merit Medical Systems by 4.6% in the fourth quarter. Rockefeller Financial Services Inc. now owns 781,227 shares of the medical instruments supplier’s stock valued at $33,749,000 after purchasing an additional 34,175 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in Merit Medical Systems by 0.6% in the fourth quarter. Teachers Advisors LLC now owns 638,426 shares of the medical instruments supplier’s stock valued at $27,580,000 after purchasing an additional 4,038 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

In related news, Director Franklin J. Miller sold 10,000 shares of the stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $43.93, for a total transaction of $439,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kent W. Stanger sold 9,082 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $44.90, for a total value of $407,781.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,082 shares of company stock valued at $1,286,382. 5.00% of the stock is owned by corporate insiders.

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About Merit Medical Systems

Merit Medical Systems, Inc is a manufacturer and marketer of disposable medical devices used in a range of interventional, diagnostic and therapeutic medical procedures. The Company operates in two segments: cardiovascular and endoscopy. The cardiovascular segment consists of cardiology and radiology devices, which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases, and includes embolotherapeutic, cardiac rhythm management (CRM), electrophysiology (EP), and interventional oncology and spine devices.

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

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