MERIT MEDICAL SYSTEMS INC MMSI
S
April 16, 2017 - 8:00pm EST by
member
| 2017 | 2018 | ||||||
| Price: | 28.20 | EPS | 1.09 | n/a | |||
| Shares Out. (in M): | 50 | P/E | 26 | n/a | |||
| Market Cap (in $M): | 1,405 | P/FCF | 53 | n/a | |||
| Net Debt (in $M): | 240 | EBIT | 70 | 0 | |||
| TEV (in $M): | 1,645 | TEV/EBIT | 23 | n/a | |||
| Borrow Cost: | Available 0-15% cost | ||||||
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You are not eligible to view 39 messages. To gain access to more recent message posts signup free for membership.
| 71 | |
Surprised by this...
Merit Medical Systems Inc (MMSI.O), a U.S. medical device manufacturer with a market value of $3.5 billion, is exploring options that include an outright sale to a private equity firm, people familiar with... login to read the rest | |
| 69 | |
are you still following the stock? Would love to hear you thoughts on their plans to improve margins. | |
| 67 | |
Announced $18mm DOJ settlement which seems low. Does this also resolve the potential lawsuits from different states?
Merit Medical Systems, Inc. (NASDAQ: MMSI), a leading manufacturer and marketer of proprietary disposable devices used in interventional, diagnostic and therapeutic... login to read the rest | |
| 65 | |
Thanks for posting martin. Very strange that this hasn't moved the stock much. Issue has been out there since 2016, but DOJ moving forward with a case by mid-July is incremental. Involvement of CCO as... login to read the rest | |
| 62 | |
Surprised to see Starboard involved here. Will be interesting to see what happens, especially with this being run as a family business. BOD could definitely use a refresh. How receptive will Fred be to forced... login to read the rest | |
| 60 | |
Agree that there is more downside. Surprised it has bounced back from $20 so quickly. | |
| 58 | |
Crushed it here sir. | |
| 57 | |
"Yes, Fred. Yes, I think unfortunately our guidance doesn't reflect how excited we are about what we've done and how the future looks." | |
| 56 | |
What a crazy miss on "adjusted EPS"
Merit Medical reports Q3 EPS $0.28 ex-items vs FactSet $0.45
FY Guidance (Dec 2019):
EPS $1.40 - $1.46 ex-items vs prior guidance $1.74 - $1.97 and FactSet $1.75
Revenue $986 - $995M vs... login to read the rest | |
| 49 | |
Agree w/ Hawkeye on M&A expenses and WC. Raul (unwittingly) provided insight on 1Q19 call when he noted that they are basically sacrificing WC management to keep GM higher. I also do suspect they are... login to read the rest | |
| 48 | |
The FCF conversion is terrible for a number of reasons:
1. While some of the add-backs are non-cash, a number of them (mostly related to acquisition expense and the never ending Special Legal Expense) are cash.
2. ... login to read the rest | |
| 46 | |
Yep. Couldn't help but laugh out loud at Raul's answer re: wide guidance range. The call was truly special. Love the fake conversations w/ investors/doctors/employees Fred references every call too. Response to final question...WOW. Makes you wonder whether... login to read the rest | |
| 41 | |
Another miss on GM and Operating Income w/ headline ADJ EPS "Beat" at $0.37 vs. consensus at $0.36E (down was down from $0.40). Revs stalling. Still no FCF. Best part is that ADJ EPS was rounded up from | |
| 39 | |
Appreciate the thoughts banjo. -Agree and glad you mentioned tax rate. Pre-tax income was a miss vs. estimates. Found it odd that most analysts on the Street failed to highlight this, but I shouldn't be... login to read the rest | |
| 37 | |
Justin Lampropoulos just sold 20k shares for $1.2mm. Follows sales earlier this month by COO (10k/$0.6mm) and a Director (~10k/$0.5mm). | |
| 36 | |
Probably not material but also some slight changes to risk factors in the Q. I wonder if we see a big write down at some point | |
| 35 | |
10Q finally out. On the call, mgmt said capex will pick up next year to $50m. However, YTD capex is already $47m, so 2018 run-rate is $64m. Compare this to D&A run-rate of $66m. Amortization... login to read the rest | |
| 33 | |
The game continues... a few quick notes below. With latest deal and capital raise, hard to handicap when the story breaks.
-Gross margin was stronger than I would have expected. Especially given that a lot of... login to read the rest | |
| 31 | |
These guys got game | |
| 30 | |
Some notes from the quarter below. I think mgmt. tried to pull as many levers as possible this quarter, understanding the importance following CFO departure. These guys actively play the Street expectations game, mentioned several... login to read the rest | |
| 29 | |
take a look at the balance sheet compared with q1:
debt is up by $27m.
cash up by 9.5.
so net use of 17.5.
deal with BD closed in February so no extra cash was suppose to go there.
but... login to read the rest | |
| 28 | |
The guide for margins looked fairly bad, sales up a fair bit for FY18 benefitting from the competitor issues yet GMs down and Adj. EPS flat? A/R and Inventory also continues to blow out. This | |
| 26 | |
Probably nothing. Just a sudden resignation of the CFO of a highly leveraged company that's been rapidly growing EBITDA but unable to produce any free cash flow. I'm sure this is fine. | |
| 25 | |
Thanks Maggie. Anyone have additional insight or thoughts here? | |
| 24 | |
Merit Medical Announces Leadership Change and Appointment of Interim CFO
SOUTH JORDAN, Utah, May 31, 2018 (GLOBE NEWSWIRE) -- Merit Medical Systems, Inc.(MMSI) , a leading manufacturer and marketer of proprietary disposable devices used in interventional,... login to read the rest | |
| 23 | |
On funding from banks, have to assume it is based on where the stock is trading/ability to de-lever though a secondary. Going through all of the acquisitions, Argon deal really sticks out. In most others,... login to read the rest | |
| 20 | |
I've gone through the filings and it is obvious that MMSI is playing games with the expenses from acquisitions. The adjusted earnings don't reflect the real cash cost of these acquisitions/buying growth. Also, Street is... login to read the rest | |
| 18 | |
Thanks martin, any chance you can share the calculation to get to the 20% decline in DFINE? | |
| 13 | |
martin - what did you think of the Q217 report? And updated FY18/19 guidance? Thanks. | |
| 11 | |
Thanks for the thoughful write-up and added insights post-Q1. Any idea though on what's driving the stock here? Purely momentum at this point? (I have plenty of shorts acting similarly and killing me I'll admit).... login to read the rest | |