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Merit Medical's (MMSI) New Launch to Improve Patient Outcome
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Merit Medical Systems, Inc. (MMSI - Free Report) recently announced the launch of the SCOUT Mini Reflector, which has been designed for use in soft tissues, such as breast and lymph nodes. The latest SCOUT Mini Reflector is the newest addition to Merit Medical’s Oncology Breast and Soft Tissue Localization portfolio, which also includes the standard SCOUT Reflector as part of the SCOUT Radar Localization system.
The latest launch is expected to significantly solidify Merit Medical’s foothold in the global oncology space.
Significance of the Launch
Per Merit Medical’s estimates, over 300,000 new cases of breast cancer are likely to be diagnosed in women in the United States in 2022. Radar localization procedures enable physicians to surgically remove abnormal breast tissue while minimizing trauma to surrounding healthy tissues. By implanting a tiny reflector, physicians can precisely target affected tissue, resulting in more successful surgeries and improved patient outcomes.
Merit Medical’s latest mini reflector is much (33%) shorter than the standard SCOUT Reflector. This is expected to provide more utility in difficult-to-localize areas. Also, the latest mini reflector has provisions for multiple treatment needs and can be used pre- or post-neoadjuvant chemotherapy, at the time of biopsy and for bracketing. Further, the SCOUT indication for use also supports placement in other soft-tissue malignancies, thereby expanding the use of SCOUT technology outside the traditional use for breast cancer treatment.
Per management, the SCOUT Mini Reflector will likely meet the requirement for smaller implantable devices for physicians and patients, which will enhance the treatments.
Industry Prospects
Per a report by Facts and Factors published on GlobeNewswire, the market for global breast cancer treatments is anticipated to reach $34.06 billion by 2026 from $19.24 billion in 2019 at a CAGR of 8.5%. Factors like increasing cases of breast cancer and unhealthy lifestyles are likely to drive the market.
Given the market potential, the latest launch is expected to provide a significant boost to Merit Medical’s business globally.
Recent Developments
This month, Merit Medical announced the successful enrollment of the first patient in its WRAP Registry Study.
In April, Merit Medical reported its first-quarter 2022 results, wherein it recorded solid uptick in revenues, both on a reported basis and at constant currency rates. The company also saw substantial segmental growth and growth across all product categories within its Cardiovascular unit. Solid product sales and robust performances in both the United States and outside were also witnessed.
Also in April, Merit Medical launched the ReSolve Thoracostomy Tray, where each tray component is placed in order of use, thereby supporting procedural efficiency and ease of use. The new tray has all products needed for performing a thoracostomy — a minimally invasive technique that enables patients to opt out of an open surgical procedure to drain chest fluids or air.
Price Performance
Shares of the company have lost 15.8% in the past year compared with 10.5% fall of the industry and 11.3% decline of the S&P 500 composite.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Merit Medical carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Patterson Companies, Inc. (PDCO - Free Report) and ShockWave Medical, Inc. (SWAV - Free Report) .
AMN Healthcare, flaunting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 1.1%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.6%.
AMN Healthcare has gained 13.8% against the industry’s 32.7% fall in the past year.
Patterson Companies, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 9.6%. PDCO’s earnings surpassed estimates in all the trailing four quarters, the average beat being 16.5%.
Patterson Companies has lost 1.8% compared with the industry’s 10.5% fall over the past year.
ShockWave Medical, sporting a Zacks Rank #1 at present, has an estimated growth rate of 44.9% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average beat being 189.9%.
ShockWave Medical has gained 7.9% against the industry’s 24.4% fall over the past year.
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Merit Medical's (MMSI) New Launch to Improve Patient Outcome
Merit Medical Systems, Inc. (MMSI - Free Report) recently announced the launch of the SCOUT Mini Reflector, which has been designed for use in soft tissues, such as breast and lymph nodes. The latest SCOUT Mini Reflector is the newest addition to Merit Medical’s Oncology Breast and Soft Tissue Localization portfolio, which also includes the standard SCOUT Reflector as part of the SCOUT Radar Localization system.
The latest launch is expected to significantly solidify Merit Medical’s foothold in the global oncology space.
Significance of the Launch
Per Merit Medical’s estimates, over 300,000 new cases of breast cancer are likely to be diagnosed in women in the United States in 2022. Radar localization procedures enable physicians to surgically remove abnormal breast tissue while minimizing trauma to surrounding healthy tissues. By implanting a tiny reflector, physicians can precisely target affected tissue, resulting in more successful surgeries and improved patient outcomes.
Merit Medical’s latest mini reflector is much (33%) shorter than the standard SCOUT Reflector. This is expected to provide more utility in difficult-to-localize areas. Also, the latest mini reflector has provisions for multiple treatment needs and can be used pre- or post-neoadjuvant chemotherapy, at the time of biopsy and for bracketing. Further, the SCOUT indication for use also supports placement in other soft-tissue malignancies, thereby expanding the use of SCOUT technology outside the traditional use for breast cancer treatment.
Per management, the SCOUT Mini Reflector will likely meet the requirement for smaller implantable devices for physicians and patients, which will enhance the treatments.
Industry Prospects
Per a report by Facts and Factors published on GlobeNewswire, the market for global breast cancer treatments is anticipated to reach $34.06 billion by 2026 from $19.24 billion in 2019 at a CAGR of 8.5%. Factors like increasing cases of breast cancer and unhealthy lifestyles are likely to drive the market.
Given the market potential, the latest launch is expected to provide a significant boost to Merit Medical’s business globally.
Recent Developments
This month, Merit Medical announced the successful enrollment of the first patient in its WRAP Registry Study.
In April, Merit Medical reported its first-quarter 2022 results, wherein it recorded solid uptick in revenues, both on a reported basis and at constant currency rates. The company also saw substantial segmental growth and growth across all product categories within its Cardiovascular unit. Solid product sales and robust performances in both the United States and outside were also witnessed.
Also in April, Merit Medical launched the ReSolve Thoracostomy Tray, where each tray component is placed in order of use, thereby supporting procedural efficiency and ease of use. The new tray has all products needed for performing a thoracostomy — a minimally invasive technique that enables patients to opt out of an open surgical procedure to drain chest fluids or air.
Price Performance
Shares of the company have lost 15.8% in the past year compared with 10.5% fall of the industry and 11.3% decline of the S&P 500 composite.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Merit Medical carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Patterson Companies, Inc. (PDCO - Free Report) and ShockWave Medical, Inc. (SWAV - Free Report) .
AMN Healthcare, flaunting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 1.1%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.6%.
You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has gained 13.8% against the industry’s 32.7% fall in the past year.
Patterson Companies, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 9.6%. PDCO’s earnings surpassed estimates in all the trailing four quarters, the average beat being 16.5%.
Patterson Companies has lost 1.8% compared with the industry’s 10.5% fall over the past year.
ShockWave Medical, sporting a Zacks Rank #1 at present, has an estimated growth rate of 44.9% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average beat being 189.9%.
ShockWave Medical has gained 7.9% against the industry’s 24.4% fall over the past year.