- Merit Medical has been posting healthy revenue growth and should see a pickup in oncology and cardiology procedures as hospitals work through their elective procedure backlogs.
- The new SplashWire guidewire appears to be gaining share, and Wrapsody should be a significant driver in the back half of this decade.
- Management has stayed disciplined and committed to its Foundations For Growth program, and investors are seeing the results in better margins and more discipline on M&A.
- Mid-single-digit revenue growth and margin expansion can drive high single-digit FCF growth and an EV/revenue-based fair value in the mid-$70s.
For further details see:
Merit Medical's Underperformance Seems Overdone As Elective Procedures Normalize