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- At the Annual Needham Healthcare Conference, Merit Medical Systems Inc's (NASDAQ:MMSI) management said that inflationary pressures and supply chain issues have been manageable and have not had a material impact on its results year-to-date.
- Additionally, they noted that China's lockdowns had no material impact, while international growth has been strong in other regions, including Australia and Europe.
- Needham said that though, MMSI is currently shipping via air but plans to return to ocean shipping later this year.
- MMSI's exposure to Ukraine, Russia, and Belarus is around ~$12 million, and management said they would continue to do business in Ukraine.
- Also Read: Medical Device Maker Merit Medical Mulls Sale.
- Based on MMSI's 2022 guidance, the analysts believe that achieving at least the low-end of its 2023 operating margin target of 18-21% is feasible despite the increasingly difficult inflationary environment.
- Initially, Needham was skeptical that MMSI could achieve this. However, it notes that the 2022 guidance for operating margin is ~17% at the mid-point.
- Management highlighted progress on consolidating manufacturing plants from recent acquisitions that could boost gross margin improvement.
- The Company will announce Q1 FY22 results on April 27.
- Price Action: MMSI shares are down 0.17% at $68.72 during the market session on the last check Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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