The biggest medtech stock gainers, losers in 2022

(From Ishant Mishra on Unsplash) In another roller coaster year for medtech, these are the companies that saw their stock rise and fall the most drastically.

The MassDevice MedTech 100 Index, which includes stocks of the world’s largest medical device companies, reflects the performance of many in the medtech space.

In a tough year for a lot of businesses, the Index wasn’t immune to struggles. Overall, it dropped 27.3% from this time last year. That compares to a 19.7% drop for the S&P 500 and an 8.9% dip for the Dow Jones Industrial Average.

Some businesses, though, powered through the supply chain- and inflation-related woes to see their stock rise from this time last year. Others weren’t so lucky. Here are some of the biggest gainers and losers — selected from the MedTech 100 Index — of 2022.

Biggest gainers BD — $245.27 to $254.97 — Up 4% 

While BD (NYSE:BDX) didn’t have the most significant growth, its stock remains in a …

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Merit Medical announces launch of ‘EZ’ radial compression device

The PreludeSync EZ radial compression device [Image courtesy of Merit Medical Systems]Merit Medical Systems (NASDAQ: MMSI) today announced the U.S. launch of its PreludeSync EZ radial compression device.

South Jordan, Utah–based Merit Medical described the PreludeSync EZ as a unique cinch-style wristband. The company designed it to provide precise two-handed placement and clear visibility of the access site.

The goal is to optimize bleeding prevention for radial artery procedures. Think catheter-based delivery systems. For example, a doctor will run a catheter through a pinhole-sized site in the wrist to conduct minimally invasive scans and procedures around the heart.

The PreludeSync EZ provides a simplified alternative to the two-strap compression band currently on the market, according to the company. In addition, the PreludeSync EZ’s design features include a large window that provides clear visibility to further assist precise placement.

“…

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Merit Medical appoints new chief commercial officer

Merit Medical Systems (Nasdaq:MMSI) announced that it promoted longtime executive Joe Wright to chief commercial officer.

Wright’s new role includes responsibility for spearheading the company’s overall commercial strategy. The 17-year Merit veteran most recently served as president of the company’s international business and led units across the Asia Pacific (APAC) region and the Americas. He also had commercial responsibility for the EMEA region over the past year.

Wright has also served as president of Merit Technology and VP of global marketing. Merit said in a news release that Wright’s appointment enables the company to “increasingly align and strengthen” ITS commercial capabilities and helps to perpetuate the company’s growth strategy.

“Today is an important day for Merit,” said Fred Lampropoulos, Merit Medical chair and CEO. “I’m delighted to promote Joe Wright, as he is an accomplished business leader wh…

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Merit Medical rises on Street-beating Q3, raised guidance

Merit Medical Systems (Nasdaq:MMSI) shares are up today — a day after it reported Q3 results that topped the consensus forecast.

The South Jordan, Utah-based disposable medical device maker announced yesterday evening that it posted profits of $15.3 million in the quarter. That amounts to 27¢ per share.

Merit registered sales of $287.2 million for the three months ended Sept. 30, 2022. Its figures include a 27.6% bottom-line improvement on sales growth of 7.5%.

Adjusted to exclude one-time items, Merit posted earnings per share of 64¢. That’s 11¢ ahead of expectations on Wall Street. Analysts projected sales of $272 million.

Mike Matson at Neeham & Co. said Merit Medical enjoyed broad-based growth that drove a solid Q3 despite inflation and currency headwinds. He reiterated his Buy rating: “We believe that MMSI continues to execute on its strategy despite macro headwinds and expect it to continue to drive strong revenue growth, mar…

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Merit Medical Systems launches soft tissue biopsy system

Merit Medical Systems (Nasdaq:MMSI) announced today that it launched the TEMNO Elite soft tissue biopsy system in the U.S.

South Jordan, Utah-based Merit designed TEMNO Elite for use in various soft tissue locations. This includes the liver, lung, lymph nodes, kidney, and other soft tissue suspect lesions.

The single-use device complements a broader portfolio, the company said. The portfolio includes the TEMNO, Achieve and Tru-Cut device families.

Merit designed TEMNO Elite to retrieve superior samples, according to a news release. The TEMNO Elite Total Core biopsy technology provides samples 72% larger than competitor side-notch, semi-automatic devices. It features Sample Assist technology to simplify tissue removal as well.

Sample Assist allows clinicians to retrieve full samples with just the slide of a button. Additionally, it includes an optional, valved coaxial introducer. This enhances patient safety by reducing the risk of air entry and fl…

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Merit Medical launches new Prelude Roadster guide sheath

[Image from Merit Medical]Merit Medical Systems (Nasdaq:MMSI) announced today that it commercially released its Prelude Roadster guide sheath.

South Jordan, Utah-based Merit designed its Prelude Roadster for deliverability, visibility, and resilience in tortuous peripheral vasculature anatomies. It helps to deliver devices used to diagnose and treat patients with peripheral artery disease (PAD).

Get the full story at our sister site, Medical Tubing & Extrusion.

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Merit Medical more than doubles profits in Q2, raises guidance

Merit Medical (Nasdaq:MMSI) posted second-quarter results this week that exceeded the consensus forecast on Wall Street.

The South Jordan, Utah-based company reported profits of $15.3 million, or 27¢ per share, on sales of $294.98 million for the three months ended June 30, for a bottom-line gain of 211.2% on sales growth of 5.23%.

Adjusted to exclude one-time items, earnings per share were 73¢, 15¢ ahead of The Street, where analysts were looking for sales of $281.01 million.

“Our updated guidance expectations for 2022 reflect continued confidence in our ability to drive solid constant currency revenue growth, material improvements in our profitability profile and strong free cash flow generation in 2022. Overall, we continue to execute on our multi-year strategic initiatives related to the Foundations for Growth Program and are excited about the results we are seeing across our business,” CEO Fred Lampropoulos said in a news release.

Merit…

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The biggest medtech personnel moves so far in 2022

In the ever-changing world of medtech, those who are leading the companies are bound to move around a bit.

At the end of last year, we compiled a list of medtech’s biggest personnel changes in 2021. Throughout just over half of 2022, we’ve already seen a slew of major moves around some of the space’s most powerful players.

Here is a list of some of the biggest personnel changes in medtech so far in 2022:

3M’s healthcare president retires 3M Health Care Business Group President Mojdeh Poul [Image courtesy of 3M]Mojdeh Poul, the president of 3M’s healthcare business, announced in May that she would retire from the position and her retirement was made effective on July 1.

Poul joined 3M in 2011 as the global business VP of critical and chronic care solutions. She later became VP and general manager of the company’s food safety business and president of numerous 3M divisions, including infection prevention, 3M Canada, and sa…

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Merit Medical launches smallest, shortest configuration of pulmonary balloon dilator

Merit Medical Systems (Nasdaq:MMSI) announced today that it launched the smallest and shortest configuration of its Elation portfolio.

South Jordan, Utah-based Merit designed its new Elation pulmonary balloon to allow physicians to accurately match balloon diameter and length to specific small airways in the lungs, offering treatment options to more patients through an expanded range of configurations.

The company said in a news release that, historically, physicians relied on single-stage cardiovascular balloons that were “often too large and too long” for use in smaller airways.

“This is the first dilation balloon with a pulmonary indication that has an appropriate size and length for smaller airways,” Dr. Ali Sadoughi, director of interventional pulmonology and bronchoscopy services at Montefiore Medical Center, said in the release. “This new configuration helps me safely dilate challenging strictures, including those in short airways at t…

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Merit Medical dips on Street-beating Q1 results

Merit Medical (NSDQ:MMSI) this week posted first-quarter results that beat the overall consensus on Wall Street.

The South Jordan, Utah-based disposable interventional medical device maker reported profits of $10.5 million, or 18¢ per share, on sales of $275.4 million for the three months ended March 31, for a bottom-line loss of 3.8% on sales growth of 10.65% compared with Q1 2021.

Adjusted to exclude one-time items, earnings per share were 53¢, 7¢ ahead of The Street, where analysts were looking for sales of $264.69 million.

“We delivered better-than-expected revenue results for the first quarter of 2022, driven by solid execution from our team, stronger-than-anticipated demand during the month of March, particularly in the U.S., and more favorable than anticipated sales trends in the APAC and “Rest of World” regions,” CEO Fred Lampropoulos said in a news release.

“We are confident in our 2022 guidance, which calls for total revenue growth, on a…

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Merit Medical chief operating officer retires

Merit Medical Systems (Nasdaq:MMSI) recently announced that chief operating officer Ronald Frost is retiring and Neil Peterson will succeed him, effective immediately.

Peterson has been with the South Jordan, Utah-based company for 27 years and has held numerous leadership roles within the company. He most recently served as VP of operations where he was responsible for oversight of all operations at Merit’s headquarters facilities in Utah.

“For more than 30 years, Ron has been an integral part of the growth and development of our company,” CEO Fred P. Lampropoulos said in a news release. “We thank Ron for his many contributions during his three-plus decades of service to the company and wish him the best in his retirement.” “Ron will assist in the transfer of responsibilities to Neil as needed.”

“Given his lengthy service to Merit, including responsibilities in the company’s engineering and operations groups, Neil is well q…

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Merit Medical wins FDA clearance for wire-free breast localization system

Merit Medical Systems (Nasdaq:MMSI) announced today that it received FDA clearance for its Scout Bx delivery system.

South Jordan, Utah-based Merit said in a news release that the technology represents the first wire-free breast localization solution that can be deployed at the time of stereotactic or MRI-guided biopsy.

The company designed Scout Bx to be compatible with the most commonly used stereotactic and MRI-guided breast biopsy devices on the market so patients can avoid an additional procedure.

Dr. Brett T. Parkinson, a diagnostic radiologist at Intermountain Healthcare in Salt Lake City and a consultant of Merit, said in the release that the system provides clinicians with a streamlined pathway to a broader group of patients without a requirement for the patient to undergo a second procedure.

“The Scout system is the market leader in wire-free breast surgical localization. Merit is committed to maintaining this leadership through continuo…

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