Merit Medical Systems, Inc. (MMSI) AI Stock Analysis

Merit Medical Systems, Inc. specializes in the design, development, manufacturing, and global marketing of single-use medical products tailored for interventional, diagnostic, and therapeutic procedures. Operating through its Cardiovascular and Endoscopy segments, the company provides products primarily across cardiology, radiology, oncology, critical care, and endoscopy. Its Cardiovascular segment provides devices for peripheral and cardiac interventions, including angiography, electrophysiology, cardiac rhythm management, fluid management, hemodynamic monitoring, and hemostasis. The Endoscopy segment delivers pulmonary products such as laser-cut tracheobronchial stents and dilation balloons, as well as gastroenterology products and procedural accessories. Merit Medical also supplies custom procedural solutions including syringes, manifold kits, and disinfection protection systems.

Merit Medical increased annual revenue from $1.07B in FY2021 to $1.51B in FY2025, recording a 5-year revenue CAGR of 9.5% from FY2020 to FY2025. Gross margin expanded from 45.2% in FY2021 to 48.7% in FY2025, while operating margin rose from 5.7% to 12.2%. Over the same timeframe, annual net income grew from $48.5M to $128.5M, lifting EPS from $2.37 to $3.83. Over the trailing twelve months, revenue reached $1.58B with an operating margin of 14.5% and a profit margin of 9.2%. In the latest quarter ending June 30, 2026, quarterly revenue rose 9.5% year-over-year, and quarterly earnings grew 20.4%.

As of June 30, 2026, Merit Medical held $448.7M in cash and short-term investments against total debt of $820.1M, resulting in net debt of $371.4M. Shareholders' equity was $1.68B and total assets stood at $2.86B, supporting a current ratio of 4.20 and a debt-to-equity ratio of 0.49. In FY2025, operating cash flow reached $297.4M, covering capital expenditures of $84.8M to produce $212.5M in free cash flow. Over the past 5 years, the company's share count changed by 4.1%.

Merit Medical trades at a trailing P/E of 36.7x, which stands above the 24.6x median of its US-listed Healthcare peers. Its forward P/E is 18.9x versus the peer median of 17.3x, and its EV/EBITDA is 15.4x compared to the peer median of 12.0x. Its price-to-sales ratio of 3.4x sits below the peer median of 4.1x. Over the past year, the stock gained 10.4%, trailing the S&P 500 return of 16.8%. Over a 5-year period, the stock rose 28.2% compared to an 83.0% gain for the S&P 500.

Wall Street analysts currently maintain 4 Strong Buy, 5 Buy, and 2 Hold ratings on Merit Medical, with no Sell or Strong Sell ratings. The mean price target is $101.64, representing a 13.9% upside compared to the last close of $89.20. For the fiscal year ending December 31, 2026, consensus estimates project EPS of $4.30 on revenue of $1.64B. The company has beat EPS estimates in each of the last 4 quarters, and its next earnings date is October 29, 2026.

This page is an AI-written research summary of Merit Medical Systems, Inc. (MMSI). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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