contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Medistim is active in ultrasound technology. The company develops and commercializes medical equipment for use in cardiovascular and transplant surgery. The company strives to reduce risks and improve quality by using transit time flow measurement and high-frequency ultrasound imaging. Medistim has subsidiaries and distributors in markets around the world. Its customers are public and private hospitals and the company is headquartered in Norway.

Medistim reported Q4 results yesterday, Friday, and the results clearly exceeded market expectations.   Revenue grew by over 20% and EBIT improved by as much as 64% YoY.    Growth was driven especially by sales in the Americas, where the company had a difficult couple of years. APAC was a small disappointment, but this is likely explained by timing. The equipment delivered is expensive, so the recording of orders across different quarters can cause fluctuations in the results. It is also good to keep in mind that this quarter’s strong result should not be taken as a definite indication that growth will necessarily continue as strongly, but it is a good signal of the company’s performance nonetheless.   Equipment sales were strong in Q4, which caused the share of recurring revenue in total sales to dip. This is a desired development, as equipment sales drive future recurring sales. During the year, the company launched new software sold as an add-on alongside the equipment. This is intended to increase the margin per device. The company also raised prices to offset costs caused by tariffs.   The company’s return on capital has turned into a strong upward trend, as NOPAT improved by nearly 50% from last year. NOPAT stagnated for a couple of years, but 2025 was a clear leap in earnings. The company calculates ROIC excluding cash and cash equivalents. It was also pleasing to note that growth occurred in both imaging and flow products. Devices are often sold modularly, where a customer might first buy “flow” and later add a more expensive imaging module.   Another important thing is to monitor how Cardiac/Vascular sells. Medistim is the market leader on the Cardiac side, but Vascular is a large potential market. Therefore, success in Vascular would be very important for future growth. Overall, a very successful quarter. It would be desirable for the development to continue as strongly, but this naturally requires continuous investment in products and the strengthening of the sales team. The company also announced during the previous quarter that it is opening a direct sales channel in Japan.

Go ahead and submit your own forecasts for this company.                   Inderes              Medistim - Inderes    Medistim is active in ultrasound technology. The company develops and commercializes medical equipment for use in cardiovascular and transplant surgery. The company strives to reduce risks and improve quality by using transit time flow measurement...

Medistim published its Q3 results yesterday. There was a bit of excitement on my part, as the company had promised to raise prices with new product features and to mitigate the impact of tariffs. I wondered what effects this would have on demand and if the company’s pricing power was as strong as I had believed.                  medistim.com              Financial Reports & Presentations: Medistim's Investment Insights    Access Medistim's  financial reports and presentations to explore our financial health, strategic growth, and investment potential. Stay updated with our progress.                             Revenue grew by over 25% and EBIT grew by 27%. EBIT margin 24.3%. The EBIT margin did, of course, drop from the Q1-Q2 peak margins, which was primarily due to performance-based bonuses and commissions paid by the company. These were questioned quite a lot in the earnings call, and management commented that the increased costs are also a sign that targets have been met. Recurring revenue decreased slightly below 70%, which I still consider a good sign, as it indicates that more devices are being delivered, which will bring recurring revenue in the future.   As we can see, in 2024, recurring revenue strongly increased its relative share when equipment sales were softer.  Revenue growth was distributed such that EMEA was soft and contracted, whereas Americas grew by approximately 35% and APAC by as much as 193%. Regarding Asian sales, it’s good to note that sales in the comparative period were weak, as there were no sales in Japan at all and a distributor was changed in China, hence the large percentage change. On the other hand, if APAC continues even moderate growth, its importance to Medistim will be greater than EMEA in the coming years.  The strong growth in USA + rest of Americas sales was a pleasant surprise. Could it also indicate good news for other medtech companies dependent on USA sales? However, management commented that quarterly fluctuations are significant and orders can shift between quarters, so it’s certainly better to follow the bigger picture. On the product side, it was pleasing to see that sales of imaging devices, in particular, have grown significantly. These are higher-priced products and, as I understand it, are purchased modularly, so a customer might first buy a flow module and later purchase an imaging device.  A minor flaw in the report was that growth primarily came from the Cardiac segment, where the company has an almost monopolistic position. Vascular is a future growth driver from which the company seeks future growth, but competition is tougher. Earlier in the year, Vascular grew very strongly, but Q3 was softer. In the conference call, it was stated that this is normal quarterly fluctuation, but this remains to be seen.   All in all, a pretty good quarter; it remains to be seen how EMEA and Vascular sales develop in future quarters and if topline growth remains as strong.

Medistim has been in the portfolio since the beginning of the year and has been mentioned in previous portfolio reviews    What I believe makes the company very attractive is its recurring revenue. The company sells sensors that can be used 50-100 times depending on the sensor, after which they need to be replaced. Currently, recurring revenue varies between 65-75% of total revenue. Ideally, it would fall below 60%, which in a good scenario would mean that equipment sales are increasing.  It’s also good to note that revenue comes from leased devices sold on a per-operation basis, and Medistim also acts as a distributor in Scandinavia. So the breakdown is not purely equipment / sensor sales. The company also has two different types of products: flow measurement and imaging. As I understand it, the products are modular, and often a customer might start by purchasing the flow function and later add imaging. In addition, the company has introduced new software to support decision-making in the operating room, which I believe increases competitive advantage and pricing power. This way, they have also been able to tackle the high price, meaning it can be purchased in parts or a leasing agreement can be made. In Q2, an interesting point about M&A was also raised. Management sees better potential in organic growth, for example, by moving to direct sales instead of using a partner.   And there seem to be quite good plans for organic growth.     The company has a 37% market share in cardiac, but there is significant potential for growth in vascular. I am attracted by the company’s pricing power and strong market position. So far, I believe management has navigated the company well, even through a somewhat challenging period, from which there are now indications of recovery. A few good articles about the company:                   outsiderscorner.substack.com              Medistim    Norwegian Medical Equipment Leader currently growing 25%, EBIT margins of 30% and ROIC of 35%                                              substack.com              Medistim (MEDI): A Heart Surgeon’s Best Friend    As I work my way through the Nordic-listed universe, I often come across smaller, high-quality companies that meet nearly every mark — except valuation.

It would be nice to hear comments from other esteemed forum members about this company as well. How does this sound:  80% gross margins Over 30% ROIC Strong balance sheet Cash flows into the coffers Niche area of expertise Market leader in some areas  Quality company? Perhaps on the negative side, I see that the equipment to be invested in is quite expensive, meaning sales volumes are relatively small in terms of units.  EPS has been stagnant for a couple of years. But has it started to grow now?  The valuation doesn’t seem bad, although six months ago this could have been acquired at a very reasonable price.

Medistim’s stock has fallen from previous high valuation levels, which, according to the tweeter, makes the risk-reward ratio attractive. The company invests in innovations that apparently strengthen its competitive advantage. Strong cash flow, high margin, and dividend yield make it a stable long-term investment, according to the tweet. https://x.com/olensrud/status/1903321296320045322     Here are the company’s Q4 materials.

Q4 and 2022 results out                   medistim.com              Company Disclosures: Medistim's Transparency & Corporate Governance    Stay informed with Medistim's Company Disclosures page, offering transparent updates on corporate governance, financial performance, and strategic decisions. Learn more.                             "Another record quarter ending at MNOK 141.8 in sales (MNOK 112.7). Full year revenue at MNOK 491.9 (MNOK 427.3) is also a new record, up 15.1 %. Sales growth is driven by all major geographical regions. Currency neutral sales increase by 21.6 % for the quarter and 11.9 % for the year. Currency neutral sales of own products increase 24.6 % for the quarter and 14.0 % for the year. The Vascular business segment grows at 8.8 % for the quarter and 27.3 % for the year. The Imaging products grows at 33.5 % for the quarter and 44.0 % for the year. Operating profit (EBIT) for the quarter ended at MNOK 36.5 (MNOK 19.5), with an EBIT margin of 25.7 % (17.3 %). For the year, EBIT ended at MNOK 141.3 (MNOK 116.3), with an EBIT margin of 28.7 % (27.6 %). The board suggests a dividend of NOK 4.5 (NOK 3.75) per share to the General meeting, a total dividend payout of MNOK 82.1."

Medistim

Financial calendar for Medistim ASA FINANCIAL YEAR 2026 19.08.2026 - Half-yearly Report 14.04.2026 - Annual Report 06.05.2026 - Annual General Meeting 07.05.2026 - Quarterly Report - Q1 23.10...

<pre>Financial calendar for Medistim ASA FINANCIAL YEAR 2026 19.08.2026 - Half-yearly Report 14.04.2026 - Annual Report 06.05.2026 - Annual General Meeting 07.05.2026 - Quarterly Report - Q1 23.10.2026 - Quarterly Report - Q3 The date for the publication of the annual report was announced by mistake to be on the 9th of April. This is corrected and the date for the publication is the14th of April. This information is published pursuant to the requirements set out in the Continuing obligations. </pre>