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Atrion Corporation - ATRI STOCK NEWS

Welcome to our dedicated page for Atrion Corporation news (Ticker: ATRI), a resource for investors and traders seeking the latest updates and insights on Atrion Corporation stock.

Atrion Corp (Symbol: ATRI) is a specialized medical device company headquartered at 527 Plymouth Rd, Plymouth, Pennsylvania, United States. The company is renowned for its development and manufacturing of high-quality products used primarily in medical applications.

Atrion's portfolio includes fluid-delivery products which generate the largest portion of its revenue. These products, such as specialized valves, are designed to hold and release controlled amounts of fluids or gases, making them essential in areas such as anesthesia and oncology.

Another significant segment of Atrion's business is its cardiovascular product line. The flagship product in this category is the MPS2 Myocardial Protection System. This advanced system is crucial during open-heart surgeries as it manages the delivery of fluids and medications, drug mixing, and the control of temperature and pressure. In addition to the MPS2, Atrion offers cardiac-surgery vacuum relief valves, inflation devices, and other essential tools used in cardiac procedures.

The company's ophthalmic products include medical devices aimed at disinfecting contact lenses, ensuring eye care professionals and patients have access to effective and reliable solutions.

Atrion Corp primarily generates its revenue within the United States, making it a significant player in the domestic medical devices industry. The company is committed to maintaining high standards of operational excellence and product quality.

In terms of financial performance, 2023 proved challenging for Atrion. The company reported revenues of $169.3 million, a decrease of $14.2 million from the previous year. Net income also saw a decline, reaching $19.4 million, down from $35 million. Diluted earnings per share were $11.02, compared to $19.56 the prior year. According to Mr. Battat, the CEO, the drop in performance was primarily due to global supply chain issues affecting the availability of electronic components crucial for their MPS 3 cardiac surgery consoles. Despite these challenges, Atrion decided to retain its skilled workforce to be better positioned for a rebound in demand in 2024 and beyond.

For more information and the latest updates, investors and stakeholders can contact Cindy Ferguson, Vice President and Chief Financial Officer, at (972) 390-9800.

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Atrion (NASDAQ: ATRI) has entered into a merger agreement with Nordson Nordson will acquire Atrion for $460 per share in cash, valuing the deal at approximately $815 million. This price represents a 15% premium to Atrion’s 90-day average stock price and is 20.2 times Atrion’s 2023 EBITDA. The transaction was unanimously approved by the boards of both companies and is expected to close in Q3 2024, pending customary regulatory approvals and closing conditions.

Three of Atrion’s largest shareholders, representing 22% of the company’s shares, have agreed to vote in favor of the merger. Truist Securities is the financial advisor for Atrion, and A&O Shearman is the legal counsel. Upon completion, Atrion will become a wholly-owned subsidiary of Nordson.

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Nordson (Nasdaq: NDSN) announced its agreement to acquire Atrion (Nasdaq: ATRI), a leader in medical infusion and cardiovascular technologies, for $460.00 per share in cash. This acquisition values Atrion at approximately $800 million and expands Nordson’s medical portfolio into new markets and therapies. Atrion generated about $169 million in revenue in 2023 and operates three FDA registered manufacturing facilities in the U.S.

The acquisition will be funded through cash on hand and newly issued financial debt and is expected to close before Nordson’s fiscal year-end in 2024, pending regulatory and stockholder approvals. The transaction is expected to generate significant synergies within the first two years of ownership.

The acquisition aligns with Nordson's strategy to leverage long-term growth drivers in the medical sector, including an aging population, increased healthcare spending, and the adoption of minimally invasive surgical techniques.

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Atrion (NASDAQ: ATRI) has announced a quarterly dividend of $2.20 per share on its common stock. This dividend will be paid on June 28, 2024, to shareholders recorded by June 14, 2024. Atrion specializes in developing and manufacturing medical products.

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Atrion (NASDAQ: ATRI) reported first quarter 2024 results with revenues of $47.3 million, operating income of $3.1 million, and net income of $2.8 million. Diluted earnings per share were $1.59. Despite revenue growth and increased operating income, net income decreased due to a one-time inventory write-off. Gross margins declined primarily due to delayed orders, excess inventory, and product mix. The company remains debt free with total cash and investments of $18.7 million.

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Atrion Corporation (NASDAQ: ATRI) reported its Q4 2023 results with revenues of $43.6 million, up $729 thousand, operating income of $6.7 million, down $2.1 million, and net income of $6.4 million, down $1.9 million. Full year 2023 revenues were $169.3 million, down $14.2 million, with net income at $19.4 million, down $15.6 million. The company faced challenges due to global supply chain issues impacting production and sales.
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Atrion Corporation (ATRI) declares a quarterly dividend of $2.20 per share. The dividend will be payable on March 29, 2024, to stockholders of record on March 15, 2024. Atrion focuses on developing and manufacturing products for medical applications.
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Atrion Corporation (NASDAQ: ATRI) Declares Quarterly Dividend of $2.20 per Share. Atrion Corporation announced the declaration of a quarterly dividend of $2.20 per share on its outstanding shares of Common Stock. Payable on December 15, 2023, to stockholders of record at the close of business on December 1, 2023. Atrion Corporation develops and manufactures products primarily for medical applications.
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Atrion Corporation (NASDAQ: ATRI) announced third-quarter results, reporting a decrease in revenues, operating income, and net income compared to the same period in 2022. Diluted earnings per share were also down. The President and CEO attributed the decrease to OEM sales being negatively impacted by customers deferring orders due to supply chain shortages in 2022 and the inability to obtain sufficient components to meet demand for MPS 3 consoles. Sequentially, revenues for 2023 quarters were down 15% in Q1, 10% in Q2, and 6% in Q3 compared to the same periods in 2022.
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Atrion Corporation appoints Jeannette Bankes as a director, bringing extensive experience in medical device and pharmaceutical companies.
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Atrion Corporation increases quarterly cash dividend from $2.15 to $2.20 per share.
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FAQ

What does Atrion Corp specialize in?

Atrion Corp specializes in developing and manufacturing medical devices, including fluid-delivery products, cardiovascular tools, and ophthalmic devices.

Where is Atrion Corp located?

Atrion Corp is located at 527 Plymouth Rd, Plymouth, Pennsylvania, United States.

What are Atrion's main product lines?

Atrion's main products include fluid-delivery systems, cardiovascular devices such as the MPS2 Myocardial Protection System, and ophthalmic medical devices.

How did Atrion perform financially in 2023?

In 2023, Atrion reported revenues of $169.3 million, a decrease of $14.2 million from the previous year. Net income was $19.4 million, down from $35 million.

Who can I contact for more information about Atrion Corp?

For more information, you can contact Cindy Ferguson, Vice President and Chief Financial Officer, at (972) 390-9800.

What impacted Atrion's financial performance in 2023?

Atrion's financial performance in 2023 was impacted by global supply chain issues which affected the availability of electronic components for their MPS 3 cardiac surgery consoles.

What is the MPS2 Myocardial Protection System?

The MPS2 Myocardial Protection System is a device used during open-heart surgeries to deliver fluids and medications, mix drugs, and control temperature and pressure.

Where does Atrion generate most of its revenue?

Atrion generates the majority of its revenue within the United States.

What kind of ophthalmic products does Atrion offer?

Atrion offers ophthalmic products that include medical devices used for disinfecting contact lenses.

Why did Atrion retain its workforce despite financial challenges?

Atrion retained its workforce to preserve their skills, reward their loyalty, and ensure the company was prepared to respond to future demand increases.

Atrion Corporation

Nasdaq:ATRI

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804.30M
1.76M
45.35%
71.93%
4.28%
Surgical and Medical Instrument Manufacturing
Manufacturing
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United States of America
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