Wall Street brokers expect Merit Medical Systems, Inc. (NASDAQ:MMSI – Get Rating) to report sales of $263.08 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made earnings estimates for Merit Medical Systems. The lowest sales estimate is $260.42 million and the highest is $265.95 million. Merit Medical Systems reported sales of $248.91 million in the same quarter last year, suggesting a positive year-over-year growth rate of 5.7%. The company is expected to release its next quarterly earnings report on Thursday, May 5.

On average, analysts expect Merit Medical Systems to report annual revenue of $1.12 billion in the current fiscal year, with estimates ranging from $1.12 billion to $1.13 billion. . For the next fiscal year, analysts expect the company to record sales of $1.18 billion, with estimates ranging from $1.17 billion to $1.19 billion. Zacks Investment Research sales averages are an average based on a survey of research analysts who provide coverage for Merit Medical Systems.

Merit Medical Systems (NASDAQ:MMSI – Get Rating) last reported results on Thursday, February 24. The medical device supplier reported EPS of $0.71 for the quarter, beating analyst consensus estimates of $0.51 by $0.20. The company posted revenue of $278.50 million in the quarter, versus a consensus estimate of $270.96 million. Merit Medical Systems posted a net margin of 4.10% and a return on equity of 12.81%. The company’s revenue increased by 7.9% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $0.54.

A number of brokerages have weighed in on the MMSI recently. Wells Fargo & Company raised its price target on Merit Medical Systems stock from $68.00 to $74.00 and gave the stock an “equal weight” rating in a Friday, Oct. 29 research note . Needham & Company LLC lowered its price target on Merit Medical Systems stock from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Friday. Piper Sandler lowered its target price on shares of Merit Medical Systems from $79.00 to $75.00 in a report released Friday. Barrington Research raised its price target on Merit Medical Systems shares from $78.00 to $82.00 and gave the company a “buy” rating in a report on Friday. Finally, Raymond James cut his price target on Merit Medical Systems stock from $73.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday. One analyst gave the stock a hold rating and five gave the company’s stock a buy rating. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $74.50.

MMSI shares opened at $64.55 on Friday. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 84.94, a growth price-to-earnings ratio of 2.34 and a beta of 1.15. Merit Medical Systems has a fifty-two week minimum of $51.66 and a fifty-two week maximum of $73.85. The company has a 50-day simple moving average of $58.75 and a 200-day simple moving average of $65.35. The company has a debt ratio of 0.27, a quick ratio of 1.20 and a current ratio of 2.17.

A number of hedge funds have recently bought and sold shares of the company. Peapack Gladstone Financial Corp increased its position in Merit Medical Systems by 5.4% in the fourth quarter. Peapack Gladstone Financial Corp now owns 3,410 shares of the medical device supplier worth $212,000 after acquiring 174 more shares last quarter. Mutual of America Capital Management LLC increased its position in Merit Medical Systems by 2.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 6,942 shares of the medical device supplier worth $432,000 after acquiring 189 additional shares last quarter. First Horizon Advisors Inc. increased its position in Merit Medical Systems by 23.4% in the third quarter. First Horizon Advisors Inc. now owns 1,032 shares of the medical device supplier worth $90,000 after acquiring 196 additional shares in the last quarter. Louisiana State Employees Retirement System increased its position in Merit Medical Systems by 0.8% in the fourth quarter. The Louisiana State Employees Retirement System now owns 24,600 shares of the medical device supplier worth $1,533,000 after acquiring 200 more shares last quarter. Finally, Profund Advisors LLC increased its position in Merit Medical Systems by 4.2% in the fourth quarter. Profund Advisors LLC now owns 5,125 shares of the medical device supplier worth $319,000 after acquiring 205 additional shares in the last quarter. 95.93% of the shares are held by institutional investors.

Merit Medical Systems Company Profile (Get a rating)

Merit Medical Systems, Inc. engages in the manufacturing and marketing of proprietary disposable medical devices. It operates through the Cardiovascular and Endoscopy segments. The Cardiovascular segment includes Peripheral Intervention, Cardiac Intervention, Interventional Oncology and Spine, and Cardiovascular and Critical Care product groups.

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