Shares of Merit Medical Systems, Inc. (NASDAQ: MMSI) closed with gain of +1.01% to $55.05. Recent traded volume was 154,934 shares versus to it an average volume of 463,546 shares. The company holds 54.69M shares outstanding and market cap of 3.01B. The stock’s day range was recorded between a low of $54.53 and a high $55.05.
Merit Medical Systems, Inc. (MMSI) recently reported revenue of $224.8M for the quarter ended June 30, 2018, an raise of 20.5% over revenue of $186.5M for the quarter ended June 30, 2017. On a comparable, constant currency basis, revenue for the second quarter of 2018 would have been up 18.6% over revenue for the comparable quarter of 2017.
Merit’s GAAP net income for the second quarter of 2018 was $10.9M, or $0.21 per share, contrast to $9.5M, or $0.19 per share, for the second quarter of 2017. Merit’s non-GAAP net income* for the quarter ended June 30, 2018 was $22.4M, or $0.43 per share, contrast to $18.3M, or $0.36 per share, for the quarter ended June 30, 2017.
“The company grew substantially in the second quarter, driven primarily by demand for our legacy products, a full quarter of selling products purchased from BD, and continued growth in our international markets,” stated Fred P. Lampropoulos, Merit’s Chairman and Chief Executive Officer. “We see additional growth opportunities for the balance of 2018, due primarily to recently-awarded tenders, anticipated releases of new products, commencement of production of the Laurane Medical product line in our Irish facility, our acquisition of product distribution contracts for the DirectACCESS Medical FirstChoice™ Ultra High Pressure PTA Balloon Catheter, and the execution of a product distribution contract for the QXMédical Q50® PLUS Stent Graft Balloon Catheter.”
- Q2 2018 worldwide revenue of $224.8M ($221.2M on a comparable, constant currency* basis), up 20.5% as stated (up 18.6% on a comparable, constant currency* basis) over Q2 2017
- Q2 2018 core revenue* up 11.7% over Q2 2017 core revenue* (core revenue* up 9.8% on a comparable, constant currency* basis)
- Q2 2018 GAAP EPS was $0.21, contrast to $0.19 in Q2 2017; Q2 2018 non-GAAP EPS* was $0.43, contrast to $0.36 in Q2 2017
- Q2 2018 GAAP gross margin was 44.5%, contrast to 45.1% in Q2 2017; Q2 2018 non-GAAP gross margin* was 48.9%, contrast to 48.3% for Q2 2017
- Q2 2018 non-GAAP gross margin* was up 140 basis points contrast to FIRST QUARTER 2018
A look on the firm performance, its monthly performance is -0.27% and a quarterly performance of 5.66%. The stock price is trading upbeat from its 200 days moving average with 16.97% and up from 50 days moving average with 3.48%.