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Fly News Breaks for March 3, 2020
Mar 3, 2020 | 06:30 EDT
Stocks across Medical Technology and Devices have pulled back due to fears over the coronavirus, with multiples back in-line with three-year averages, Piper Sandler analyst Matt O'Brien tells investors in a research note. In the analyst's coverage, Align Technology (ALGN) and Merit Medical (MMSI) have the most revenue exposure to China, with DexCom (DXCM) and Globus Medical (GMED) among the least exposed large and mid cap names, respectively. The names O'Brien would own, specifically related to the impact of coronavirus on their stock price, are Boston Scientific (BSX), Globus Medical and Tela Bio (TELA) in large, mid-, and small-cap med tech.
News For BSX;ALGN;MMSI;DXCM;GMED;TELA From the Last 2 Days
Feb 24, 2021 | 16:23 EST
Reports Q4 revenue $258M, consensus $250.45M."We delivered fourth quarter revenue results above the high-end of our guidance range, increasing 6% quarter-over-quarter as reported, despite the challenging operating environment and slower-than-expected pace of recovery from the COVID-19 pandemic in many of our primary markets around the world," said Fred P. Lampropoulos, Merit's Chairman and Chief Executive Officer. "We are proud of the continued improvement in profitability performance in Q4, including a 23% increase in non-GAAP operating profit year-over-year and a 288% increase in free cash flow to more than $26 million in the quarter." Mr. Lampropoulos continued: "Our financial guidance for 2021 reflects cautious optimism on the prospects for an improving operating environment as we progress through the year, with continued COVID-19-related headwinds over the first half of the year, and a return to more normalized growth as the overall global recovery takes shape over the second half of the year. Importantly, while our 2021 guidance reflects total revenue growth, on a constant currency basis, in the low-to-mid single digits year-over-year, excluding the impact of divestitures and product sales that uniquely benefitted from pandemic-related demand trends in 2020, our revenue guidance reflects growth in the mid-to-high single digits year-over-year in 2021. We also expect to report improving non-GAAP gross and operating margins and strong free cash flow in 2021, driven by strong execution and contributions from our multi-year strategic initiatives related to our Foundations for Growth Program."