Merit Medical Systems, Inc. (NASDAQ:MMSI) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.23-$1.28 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.18. The company issued revenue guidance of $722-$727 million, compared to the consensus revenue estimate of $720.13 million.
Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) traded down 0.13% during mid-day trading on Friday, hitting $39.75. The stock had a trading volume of 295,424 shares. The firm has a 50 day moving average of $39.04 and a 200-day moving average of $32.99. Merit Medical Systems, Inc. has a one year low of $20.70 and a one year high of $42.60. The stock has a market cap of $1.99 billion, a P/E ratio of 56.62 and a beta of 1.26.
Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The business had revenue of $186.50 million for the quarter, compared to the consensus estimate of $181.46 million. Merit Medical Systems had a return on equity of 9.78% and a net margin of 4.87%. The business’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 earnings per share. Equities research analysts expect that Merit Medical Systems, Inc. will post $1.26 earnings per share for the current fiscal year.
MMSI has been the topic of a number of research analyst reports. Craig Hallum restated a buy rating and issued a $50.00 target price (up previously from $42.00) on shares of Merit Medical Systems in a research report on Thursday, July 27th. Zacks Investment Research upgraded Merit Medical Systems from a hold rating to a buy rating and set a $41.00 target price on the stock in a research report on Thursday, June 22nd. SunTrust Banks, Inc. initiated coverage on Merit Medical Systems in a research note on Tuesday, June 20th. They issued a buy rating and a $43.00 price objective for the company. Sidoti reaffirmed a buy rating and issued a $41.00 price objective (up from $35.00) on shares of Merit Medical Systems in a research note on Saturday, April 29th. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $45.00 price objective on shares of Merit Medical Systems in a research note on Friday, July 28th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $39.74.
In other news, Director Kent W. Stanger sold 7,400 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $42.22, for a total value of $312,428.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director A Scott Anderson sold 25,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $41.15, for a total value of $1,028,750.00. Following the completion of the sale, the director now directly owns 10,400 shares of the company’s stock, valued at $427,960. The disclosure for this sale can be found here. Insiders have sold a total of 147,450 shares of company stock valued at $5,607,192 over the last ninety days. 5.00% of the stock is owned by company insiders.
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Merit Medical Systems Company Profile
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.
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