27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Barrington Research analyst Michael Petusky reiterated an Outperform rating on Merit Medical Systems, Inc. (NASDAQ:MMSI), with a price target of $95.
Merit Medical is expected to report its financial results for the second quarter of 2023 in about three weeks.
The company stated in late April that it expects to deliver 4%-6% revenue growth in 2Q on a reported basis and 5%-7% top-line growth on a constant currency basis. The analyst's estimate is $310.8 million, or approximately a 5.4% gain.
Petusky expects Merit's peripheral intervention (PI) business to grow 9% Y/Y to $120.9 million, while the cardiac intervention is estimated to generate $92.3 million, up 3% Y/Y in 2Q.
The analyst notes that custom procedural solutions are expected to fall by 1% to $48.6 million, while OEM is estimated to deliver $39.5 million, up by 6.5%.
Petusky's estimates are slightly above the company's guidance range and expects $0.78 in adjusted EPS in the second quarter (or 6.9% adjusted EPS growth).
The analyst expects Merit to continue affirming its multi-year growth plan foundations, generating at least $300 million in aggregate free cash flow in 2021, 2022, and 2023.
Merit is estimated to provide an update on the early impact of its recent M&A efforts (PI assets in early June), notes the analyst.
While the transactions are expected to be slightly dilutive to adjusted EPS in FY/23, they are viewed as strategic and likely accretive to adjusted EPS beginning in FY/24.
Petusky assumes approximately $200 million in net debt 12 months from now.
The analyst expects gross profit in the quarter to be reported to be $145.46 million, up 7.7% on year. Operating income is expected to rise by 63.1% on year to $37.92 million.
Price Action: MMSI shares are trading lower by 1.46% to $79.74 on the last check Thursday.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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