3. Merit Medical Systems (MMSI) designs, develops, manufactures and markets single-use medical products for interventional and diagnostic procedures. The company's business is divided into four segments: cardiology, radiology, gastroenterology and pulmonary. Merit is scheduled to release its second quarter 2011 results on July 21 after market hours.
Analysts polled by Bloomberg foresee the company reporting second-quarter net income of $7.49 million or 20 cents per share, compared to $6.41 million or 18 cents per share in the same quarter prior year. Sales are seen rising by 19% to $89.40 million from $74.95 million in the year-ago quarter. Gross margin is likely to expand to 46.75% from 43.31% in the year-ago quarter. Operating profit for the quarter could increase by 29% to $11.31 million.
The company recently closed its public offering of 5.52 million shares of common stock, including 720,000 shares issued as a result of the underwriters' exercise of their over-allotment option. Net proceeds of the issue totaled $87.6 million, excluding underwriting discounts, commissions and estimated offering expenses.Of the nine analysts covering the stock, 56% recommend a buy and the rest rate a hold. There are no sell ratings on the stock. Analysts polled by Bloomberg foresee the stock gaining an average 22.6% to $21.67 in the upcoming 12 months.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV