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Merit Medical: 3Q Earnings Snapshot

·1 min read

SOUTH JORDAN, Utah (AP) _ Merit Medical Systems Inc. (MMSI) on Wednesday reported a loss of $3 million in its third quarter.

The South Jordan, Utah-based company said it had a loss of 5 cents per share. Earnings, adjusted for non-recurring costs, came to 42 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.

The maker of disposable medical devices posted revenue of $244 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $219.1 million.

Merit Medical expects full-year earnings in the range of $1.52 to $1.57 per share, with revenue in the range of $950 million to $959 million.

Merit Medical shares have increased 58% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $49.24, a rise of 63% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MMSI at https://www.zacks.com/ap/MMSI