9. Merit Medical Systems (Nasdaq:MMSI): +63.0%
Merit Medical (South Jordan, Utah) managed to beat Wall Street expectations on third-quarter earnings, even as the disposable medical device maker engages in an acquisition spree. Acquisitions included spinal implant maker Osseon, bone biopsy assets from Laurane Medical, ITL Healthcare and its custom procedure pack business, and steerable “smart” guidewire maker IntelliMedical Technologies.
“Despite challenges with the general conditions of summer selling, the company delivered earnings above expectations which demonstrates both our commitment and discipline to our financial and operating plan, which, except as discussed below, we are confirming for the balance of this year, as well as our announced plans for 2018 and 2019,” CEO Fred Lampropoulos said in prepared remarks in October.
The M&A deals continue. Merit announced in November that it was spending $100 million to snap up the soft tissue biopsy assets that Becton Dickinson (NYSE:BDX) and C.R. Bard (NYSE:BCR) needed to sell to complete their $24 billion merger.
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