Merit Med Sys Inc Stock Price, News & Analysis

Merit Medical Systems, Inc. (NASDAQ: MMSI) announced that its Chairman and CEO, Fred Lampropoulos, received the 2022 Manufacturing Leader of the Year Award from the Utah Manufacturers Association. The award recognizes excellence in leadership within Utah’s manufacturing sector. Lampropoulos highlighted the challenges of supply chain interruptions but emphasized the company's innovative responses to continue product delivery. With over 30 years in operation, Merit has grown its revenue to over $1 billion and maintains ISO certifications across its global manufacturing facilities.

Merit Medical Systems has reached a settlement in the derivative action, Maute v. Lampropoulos, resolving claims against former directors for allegedly breaching fiduciary duties through misleading statements regarding the integration of Cianna Medical and ClariVein assets. The settlement hearing is set for February 16, 2023, to assess the fairness and adequacy of the settlement terms. Merit will implement governance reforms as detailed in the stipulation. Both Merit and the Individual Defendants deny wrongdoing and liability.

Merit Medical Systems has appointed Joe Wright as its new Chief Commercial Officer, overseeing global commercial activities. With over 17 years at Merit, most recently as President of International, Wright brings extensive leadership experience across various regions. This restructuring aims to enhance alignment and strengthen commercial capabilities, supporting the company's growth strategy. Chairman Fred P. Lampropoulos emphasized Wright's track record of driving growth and innovation, crucial for improving patient outcomes.

Merit Medical Systems, Inc. (MMSI) reported Q3 2022 revenue of $287.2 million, a 7.5% increase from Q3 2021, with a 10.5% rise in constant currency revenue. The company achieved a GAAP operating margin of 6.5% and a non-GAAP operating margin of 16.1%. GAAP EPS rose to $0.27 from $0.21, while non-GAAP EPS increased to $0.64 from $0.52. Updated 2022 guidance estimates net sales between $1.145-$1.151 billion, reflecting confidence in ongoing growth and profitability.

Merit Medical Systems (NASDAQ: MMSI) announced it will release its financial results for Q3 2022 on October 26, 2022, after the market close. An investor conference call is scheduled for the same day at 5:00 p.m. Eastern. Interested parties can pre-register for the call, and a live webcast will be available. Founded in 1987, Merit is a global leader in healthcare technology, employing over 6,900 individuals across multiple countries.

Merit Medical Systems has launched the TEMNO Elite™ Soft Tissue Biopsy System, designed to improve biopsy procedures. It provides 72% larger samples compared to competitors, ensuring better diagnostic accuracy. The device features Sample Assist™ technology for easier tissue retrieval and includes an optional valved coaxial introducer for enhanced patient safety. This innovation reinforces Merit’s commitment to advancing patient care and improving diagnostic processes in pathology labs.

Merit Medical Systems has launched the Prelude Roadster™ Guide Sheath in the U.S., enhancing access to difficult vascular anatomies. This device is crucial for treating the approximately 6.5 million Americans with Peripheral Artery Disease (PAD), a condition that impedes blood flow and raises the risk of serious complications. The Prelude Roadster aims to improve the deliverability and efficacy of medical procedures in challenging cases, demonstrating the company's commitment to patient care.

Merit Medical Systems (MMSI) reported Q2 2022 revenue of $295.0 million, reflecting a 5.2% increase from Q2 2021. Constant currency organic revenue grew 7.4%. The GAAP operating margin improved to 7.9% compared to 3.2% last year, with non-GAAP operating margin reaching 19.1%. GAAP EPS was $0.27, up from $0.09, and non-GAAP EPS rose to $0.73 from $0.62. Updated guidance for FY 2022 projects revenue between $1.123 billion to $1.135 billion, a 5% to 6% increase, with net income forecasted between $62.4 million to $68.3 million.

Merit Medical Systems has launched the Elation Pulmonary Balloon Dilator, the smallest configuration specifically designed for small airways in the U.S. market. This innovative product addresses a critical need in pulmonary care, enabling physicians to match balloon size to specific small airways, enhancing treatment options for patients with airway obstructions. The multi-stage balloon configuration also features a kink-resistant catheter, allowing for multiple dilations in one procedure. This development marks a significant advancement in minimally invasive treatments for lung conditions.