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SOUTH JORDAN, Utah – Merit Medical Systems Inc. (NASDAQ:MMSI), a leading manufacturer of medical devices with a market capitalization of $6.3 billion and impressive revenue growth of 8.12% over the last twelve months, held a conference call today to discuss recent developments and updates related to its WRAPSODY™ Cell-Impermeable Endoprosthesis (Wrapsody CIE).
According to InvestingPro analysis, the company currently trades near its 52-week high, reflecting strong investor confidence in its business model. During the call, the company shared prepared remarks, which have been furnished as part of a Current Report on Form 8-K to the Securities and Exchange Commission (SEC).
The discussion centered on commercial, marketing, and industry aspects of the Wrapsody CIE, a device designed for vascular interventions. Merit Medical Systems highlighted that the information presented in the conference call, including the remarks in the exhibit, is furnished and not filed according to the SEC regulations and, therefore, is not subject to the liabilities of Section 18 of the Securities Exchange Act of 1934, nor is it incorporated by reference into any SEC filings.
The company’s prepared remarks contained forward-looking statements about its operations and the potential of the Wrapsody CIE. These statements, which are subject to risks, uncertainties, and other factors, may differ materially from actual future results or performance. It’s worth noting that InvestingPro data shows Merit Medical (TASE:PMCN) maintains a strong financial position with a current ratio of 5.36, indicating excellent ability to meet short-term obligations. Get access to 13 more exclusive InvestingPro Tips and comprehensive financial analysis through the Pro Research Report, available for over 1,400 US stocks.
The company, incorporated in Utah, is known for its specialization in the development, manufacture, and distribution of proprietary disposable medical devices used in interventional, diagnostic, and therapeutic procedures, particularly in cardiology, radiology, and endoscopy. With an overall financial health score rated as "GREAT" by InvestingPro, Merit Medical demonstrates strong operational efficiency with a gross profit margin of 46.83%. Unlock detailed valuation metrics and expert analysis with an InvestingPro subscription.
For more detailed information, the full text of the conference call remarks can be found in Exhibit 99.1 of the Form 8-K filed with the SEC.
In other recent news, Merit Medical Systems has demonstrated remarkable performance in recent times. The company’s revenue has increased by 8.12% over the last year.
Piper Sandler has shown confidence in the company by raising the stock target from $110.00 to $114.00, maintaining an Overweight rating. Similarly, Needham reaffirmed its positive stance with a Buy rating, and Raymond (NSE:RYMD) James increased its price target while retaining an Outperform rating.
The company’s Wrapsody Cell-Impermeable Endoprosthesis received premarket approval from the US Food and Drug Administration, with commercialization set to commence in 2025. This development is expected to enhance the company’s revenue stream and bolster its market position.
Merit Medical’s Q3 results were strong, with total revenue reaching $339.8 million, an increase of 7.8% from the previous year. The company also acquired Cook Medical’s lead management portfolio, which is anticipated to generate significant future revenue.
In a significant leadership change, the company’s President, Joseph C. Wright, resigned, with Fred P. Lampropoulos reinstated as the President.
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