Merit Medical (MMSI) Up 18.9% In A Month On Solid Q1 Earnings
Zacks Investment Research | May 28, 2018 07:39AM ET
Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have gained 18.9% since the release of first-quarter 2018 results on Apr 25.
The rally was backed by better-than-expected earnings per share (EPS) and revenue growth across all product lines along with strong performance in all geographies. Over the past month, the company has gained 10.4% significantly outperforming the industry ’s decline of 1.3%.
Let’s delve deep into the release:
The company reported adjusted EPS of 31 cents, which beat the Zacks Consensus Estimate by 6.9%. Earnings rose 10.7% from the prior-year quarter.
Revenues in Detail
In the first quarter, worldwide revenues totaled $203 million on a reported basis, beating the Zacks Consensus Estimate by 4.6%. At constant currency (cc), revenues came in at $197.9 million. Revenues inched up 15.7% at cc.
Meanwhile, core revenues grossed $183.2 million, up 7.1% at cc.
Per management, organic growth was 7.1%, mainly driven by catheter, endoscopy and inflation device sales. Moreover, sales from the United States and China, Asia-Pacific, Europe, Middle East and Africa contributed to overall growth.
Merit Medical Systems, Inc. Price, Consensus and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.