Shares of Merit Medical Systems, Inc. MMSI rose 4.5% on Aug 28 following the U.S. commercial release of the TEMNO Elite Soft Tissue Biopsy System. After the release, the Elite Soft Tissue Biopsy System became the latest addition to the company’s comprehensive portfolio of biopsy devices, including the TEMNO, Achieve and Tru-Cut family of devices.The latest launch is expected to solidify Merit Medical’s foothold in the global soft tissue biopsy space. The single-use TEMNO Elite Soft Tissue Biopsy device is indicated for use in various soft tissue locations—such as liver, lung, lymph nodes, kidney, and other soft tissue suspect lesions.Shares of Merit Medical have lost 7.6% this year compared with the industry’s decline of 21.2%. The broader S&P 500 index was down 24.1% in the same period.Image Source: Zacks Investment ResearchSignificance of the ReleasePatients require routine biopsy for proper diagnosis of a disease. During a biopsy, tissues from patients are extracted and examined. Accurate diagnosis of a disease requires adequate sample size and quality of tissues. Merit Medical’s new biopsy system is stated to have obtained samples that are 72% larger than its competitor’s side-notch, semi-automatic devices.The new biopsy device also includes a Sample Assist feature, simplifying tissue removal for clinicians with an easy button slide. The system includes a valved coaxial introducer that helps reduce procedural steps and blood leakage and helps to reduce the risk of pneumothorax and air embolism in patients.Industry ProspectsPer a report by Allied Market Research, the global biopsy devices market was valued at $2.73 billion in 2018. The market size is expected to increase to $4.31 billion in 2026 at a compound annual growth rate of 5.9%. Growing incidences of cancer like breast, prostate and lung cancer and technological advancements fuel the adoption of biopsy devices.Given the market potential, the latest launch is expected to provide a significant boost to Merit Medical’s business globally.Merit Medical Systems, Inc. Price Merit Medical Systems, Inc. price | Merit Medical Systems, Inc. Quote Notable DevelopmentsEarlier this month, Merit Medical announced the U.S. commercial release of the Prelude Roadster Guide Sheath. Last month, Merit Medical announced the launch of its SafeGuard Focus Cool Compression Device, an innovative addition to its SafeGuard platform.In July, Merit Medical reported its second-quarter 2022 results, registering a year-over-year uptick in the top and the bottom line. The company also saw revenue growth in the Cardiovascular and Endoscopy segments and across all product categories within its Cardiovascular unit. Solid product sales and robust performances in the United States and outside were also witnessed.Stocks to ConsiderCurrently, Merit Medical carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader medical space are ShockWave Medical SWAV, AMN Healthcare Services AMN and McKesson MCK. While ShockWave Medical and AMN Healthcare Services sport a Zacks Rank #1 (Strong Buy), McKesson carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Estimates for ShockWave Medical’s earnings per share rose from $2.02 to $2.57 for 2022 and from $2.95 to $3.42 for 2023 in the past 60 days. SWAV has gained 53.4% so far this year.ShockWave Medical delivered an earnings surprise of 180.14%, on average, in the last four quarters.Estimates for AMN Healthcare Services have improved from earnings of $10.41 to $11.26 for 2022 and $7.94 to $8.30 for 2023 in the past 60 days. AMN stock has declined 13.5% so far this year.AMN Healthcare Services delivered an earnings surprise of 15.66%, on average, in the last four quarters.McKesson’s earnings per share estimates increased from $23.27 to $24.42 for fiscal 2023 and $25.41 to $26.04 for fiscal 2024 in the past 60 days. MCK has gained 40.3% so far this year.McKesson delivered an earnings surprise of 13.00%, on average, in the last four quarters. FREE Report: The Metaverse is Exploding! Don’t You Want to Cash In? Rising gas prices. The war in Ukraine. America's recession. Inflation. It's no wonder why the metaverse is so popular and growing every day. Becoming Spider Man and fighting Darth Vader is infinitely more appealing than spending over $5 per gallon at the pump. And that appeal is why the metaverse can provide such massive gains for investors. But do you know where to look? Do you know which metaverse stocks to buy and which to avoid? 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