On Aug 23, Zacks Investment Research raised Merit Medical Systems Inc. (MMSI - Free Report) to a Zacks Rank #1 (Strong Buy) on estimate revisions.
Why the Upgrade?
The upgrade was primarily driven by estimate revisions over the last 30 days.
The Zacks Consensus Estimate for full-year 2016 is currently pegged at 98 cents per share, which moved up a penny over the same time frame, as two out of four analysts revised their estimates upward.
Meanwhile, the Zacks Consensus Estimate for full-year 2017 has been revised upward by 2.6% (3 cents) to the present $1.17 per share, as three out of four analysts raised their projections.
Key Growth Factors
The estimate revisions were primarily driven by Merit Medical’s strong second-quarter 2016 results. The company’s adjusted earnings of 26 cents per share outpaced the Zacks Consensus Estimate by couple of cents (8.3%). Sales of $151.7 million also managed to beat the Zacks Consensus Estimate of $148 million.
Sales increased 9.9% on a year-over-year basis at constant currency; driven by 9.6% growth in cardiovascular sales and 4.8% increase in endoscopy segment sales.
Merit Medical noted strong order growth from China, Japan, Russia, in addition to the United States in the quarter. The company’s results were also positively driven by robust performance in Australia and Canada.
Merit Medical announced the launch of two new HeRO products, the product line which it acquired from CryoLife , earlier this year. Additionally, the acquisition of DFINE Inc. will expand the company’s vertebral spine business (kyphoplasty and vertebralplasty) as well the oncology business.
Other Stocks to Consider
Other favorably ranked stocks include Masimo (MASI - Free Report) and Halyard Health . Both the stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
On Aug 23, Zacks Investment Research raised Merit Medical Systems Inc. (MMSI - Free Report) to a Zacks Rank #1 (Strong Buy) on estimate revisions.
Why the Upgrade?
The upgrade was primarily driven by estimate revisions over the last 30 days.
The Zacks Consensus Estimate for full-year 2016 is currently pegged at 98 cents per share, which moved up a penny over the same time frame, as two out of four analysts revised their estimates upward.
Meanwhile, the Zacks Consensus Estimate for full-year 2017 has been revised upward by 2.6% (3 cents) to the present $1.17 per share, as three out of four analysts raised their projections.
Key Growth Factors
The estimate revisions were primarily driven by Merit Medical’s strong second-quarter 2016 results. The company’s adjusted earnings of 26 cents per share outpaced the Zacks Consensus Estimate by couple of cents (8.3%). Sales of $151.7 million also managed to beat the Zacks Consensus Estimate of $148 million.
Sales increased 9.9% on a year-over-year basis at constant currency; driven by 9.6% growth in cardiovascular sales and 4.8% increase in endoscopy segment sales.
Merit Medical noted strong order growth from China, Japan, Russia, in addition to the United States in the quarter. The company’s results were also positively driven by robust performance in Australia and Canada.
Merit Medical announced the launch of two new HeRO products, the product line which it acquired from CryoLife , earlier this year. Additionally, the acquisition of DFINE Inc. will expand the company’s vertebral spine business (kyphoplasty and vertebralplasty) as well the oncology business.
Other Stocks to Consider
Other favorably ranked stocks include Masimo (MASI - Free Report) and Halyard Health . Both the stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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