Welcome to our dedicated page for Merit Medical Systems news (Ticker: MMSI), a resource for investors and traders seeking the latest updates and insights on Merit Medical Systems stock.
Merit Medical Systems Inc (NASDAQ: MMSI) is a leading manufacturer of medical devices used in diagnostic and interventional cardiology, radiology, and endoscopy procedures. Headquartered in South Jordan, Utah, the company employs approximately 7,000 individuals globally. Merit Medical's extensive product portfolio includes inflation devices for angioplasty and stent placement, diagnostic and therapeutic catheters, guide wires, thrombolytic catheters, fluid dispensing systems, angiography accessories, and custom angiography kits. The company's products are marketed across the United States, Europe, and around the world through direct sales forces and distributors.
Merit Medical operates primarily in two segments: Cardiovascular, which constitutes the majority of its revenue, and Endoscopy. The company is renowned for its innovative healthcare technology, with recent notable achievements including FDA 510(k) clearance for their SCOUT® MD™ Surgical Guidance System, designed to enhance the precision of tumor excision in breast cancer surgeries.
In 2024, Merit Medical commenced the MOTION study, a multicenter, prospective, randomized, controlled trial comparing genicular artery embolization (GAE) using Embosphere® Microspheres to corticosteroid injections for treating knee osteoarthritis. This study underscores the company's commitment to evidence-based medicine and patient-centric care. Additionally, the company recently launched the Micro ACE Advanced Micro-Access System and the Siege Vascular Plug, which are expected to significantly improve patient outcomes in vascular procedures.
Financially, the company has introduced a Continued Growth Initiatives Program with robust targets set for 2026. Merit Medical has consistently focused on innovation, investment in research, and strategic expansion, making it a pivotal player in the medical technology sector.
For the latest updates and detailed financial data, Merit Medical Systems regularly schedules earnings calls and provides comprehensive reports which can be accessed by interested stakeholders.
Merit Medical Systems (MMSI) reported Q1 2023 revenue of $297.6 million, marking an 8.0% increase from Q1 2022. Constant currency revenue grew 9.8% year-over-year, driven by performance in U.S. and international markets. The GAAP operating margin improved to 8.9% compared to 5.5% in Q1 2022, while non-GAAP operating margin rose to 16.1%. Q1 GAAP EPS was $0.36, up from $0.18 the previous year. CEO Fred Lampropoulos highlighted the strong start to FY 2023, updating financial guidance with projected revenue between $1.217 billion and $1.229 billion. Positive outlook includes expectations of 5%-6% growth in the cardiovascular segment and earnings per share of $1.71 to $1.79 by year-end. Cash and equivalents stood at $57.9 million, with total debt obligations of $197.8 million.
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