Merit Medical Systems, Inc. (MMSI) Stock Price & Analysis
Merit Medical Systems, Inc. (MMSI) is trading at USD 93.15, down 0.84% today, as of October 23, 2026 at 14:20 UTC (US market open; quotes may be delayed), according to Nexqual market data.
MMSI last closed at USD 93.94; today's session has ranged USD 93.11–93.87 on volume of 29,737 shares. Market capitalization is $5.56B, with a 52-week range of USD 59.74–94.75 (NMS). Source: Nexqual, retrieved October 23, 2026 at 14:20 UTC.
Also available as compact Markdown for AI agents: nexqual.com/MMSI.md
Key facts (MMSI)
- Last four reported quarters (through Jun 30, 2026): revenue $1.58B, net income $146M (9.2% margin), free cash flow $203M (SEC filings).
- 1 of 80 tracked superinvestors hold MMSI (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $2.8M; 3 not under a Rule 10b5-1 plan ($2.8M); 2 by opportunistic insiders (2 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 5 Form 4 filings, $573K; 0 by opportunistic insiders, 1 by routine insiders.
- Total return with dividends: 1Y +11.8% vs S&P 500 +14.4%; 5Y +38.5% vs S&P 500 +77.0%.
- Next earnings: 2026-10-29, EPS estimate USD 1.03, revenue estimate $410M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (MMSI)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.07B | $1.15B | $1.26B | $1.36B | $1.52B | $1.58B |
| Gross profit | $485M | $519M | $584M | $643M | $738M | — |
| Operating income | $60.9M | $87.6M | $124M | $156M | $185M | $201M |
| Net income | $48.5M | $74.5M | $94.4M | $120M | $128M | $146M |
| EPS (diluted) | $0.84 | $1.29 | $1.62 | $2.03 | $2.13 | — |
| Free cash flow | $119M | $69.3M | $111M | $186M | $216M | $203M |
| Gross margin | 45.2% | 45.1% | 46.4% | 47.4% | 48.7% | — |
| Operating margin | 5.7% | 7.6% | 9.9% | 11.5% | 12.2% | 12.8% |
| Net margin | 4.5% | 6.5% | 7.5% | 8.9% | 8.5% | 9.2% |
| Revenue growth | +11.5% | +7.1% | +9.2% | +7.9% | +11.8% | — |
| Cash + short-term investments | $67.8M | $58.4M | $587M | $377M | $446M | — |
| Total debt | $243M | $198M | $823M | $730M | $734M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (MMSI)
P/E at fiscal year-ends: Dec 2025 41.5x, Dec 2024 47.7x, Dec 2023 47.0x.
Superinvestors (SEC 13F-HR, Q2 2026) (MMSI)
1 of 80 tracked investors hold MMSI. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Lee Ainslie | Maverick Capital | 0.61% | $67.9M | Added +37.0% |
Insider sales (SEC Form 4, open-market, last ~7 months) (MMSI)
0 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-24 | Peterson Neil W. | CHIEF OPERATING OFFICER | 7,500 | $678K | 29.4% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-04 | Peterson Neil W. | CHIEF OPERATING OFFICER | 21,449 | $1.8M | 45.6% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-07 | Ward Lynne N. | Director | 5,000 | $313K | 39% | No | Too little history (no open-market trades in 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (MMSI)
5 purchases, $573K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-05-11 | Smith Christian Adam | Chief Commercial Officer | 1,626 | $99K | 61 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-07 | Lloyd Brian G. | CHIEF LEGAL OFFICER, SECRETARY | 2,000 | $125K | 62.63 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-06 | Aronson Martha Goldberg | President and CEO | 2,000 | $121K | 60.44 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-06 | Parra Raul Jr. | CFO AND TREASURER | 1,500 | $92K | 61.01 | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
| 2026-05-05 | Voigt Michel J. | CHIEF HUMAN RESOURCES OFFICER | 2,250 | $136K | 60.65 | Too little history (no open-market trades in 2024) |
Analysts (MMSI)
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-29 | Needham | Reiterated | Buy | $101 |
| 2026-08-13 | B of A Securities | Target raised | Neutral | $92 → $97 |
| 2026-08-11 | BTIG | Reiterated | Buy | $105 |
| 2026-08-03 | Canaccord Genuity | Target raised | Buy | $85 → $94 |
| 2026-07-31 | JP Morgan | Target raised | Overweight | $77 → $95 |
| 2026-07-31 | Piper Sandler | Target raised | Overweight | $96 → $106 |
| 2026-07-31 | Wells Fargo | Target raised | Equal-Weight | $74 → $83 |
| 2026-07-31 | Needham | Target raised | Buy | $90 → $101 |
| 2026-07-31 | BTIG | Target raised | Buy | $100 → $105 |
Total return (dividends reinvested) (MMSI)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | +11.8% | +38.5% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | +11.8% | +6.7% |
| Volatility (annualized) | 29.6% | 26.9% |
| Max drawdown | -35.3% (Jan 2026→May 2026) | -43.9% (Feb 2025→May 2026) |
MMSI revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Foundational | $281.0M | 67.1% | +7.1% |
| Foundational Access | $161.8M | 38.6% | +6.4% |
| Therapeutic | $137.9M | 32.9% | +14.8% |
| Foundational Original Equipment Manufacturer | $48.3M | 11.5% | +11.8% |
| Foundational Vascular Intervention | $41.7M | 9.9% | +19.2% |
| Therapeutic Vascular Intervention | $34.4M | 8.2% | +6.8% |
| Therapeutic Cardiac Therapies | $28.5M | 6.8% | +24.3% |
| Foundational Procedural Solutions | $27.9M | 6.7% | -11.9% |
| Therapeutic Oncology | $25.8M | 6.2% | +7.6% |
| Therapeutic Endoscopy | $23.6M | 5.6% | +28.5% |
| Therapeutic Original Equipment Manufacturer | $12.8M | 3.1% | +31.5% |
| Therapeutic Renal Therapies | $12.7M | 3.0% | -0.8% |
| Product & Service Other | $1.2M | 0.3% | +257.2% |
| Total revenue | $418.8M | 100% | — |
MMSI revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $252.1M | 60.2% | +11.0% |
| Non Us | $166.8M | 39.8% | +7.3% |
| Total revenue | $418.8M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
MMSI suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Biolife Delaware | “We are amortizing the Biolife developed technology intangible assets over 12 years, the trademark intangible assets over 12 years, and the customer list intangible asset on an accelerated basis over 12 years.” |
| Customer | ANGIODYNAMICS INC (ANGO) | “We are amortizing the AngioDynamics developed technology intangible assets over ten years, the trademark intangible assets over 11 years, and the customer list intangible asset on an accelerated basis over ten years.” |
| Customer | Merit and Cook Medical Holdings | “We are amortizing Cook developed technology intangible assets over ten years, the trademark intangible assets over 12 years, and the customer list intangible asset on an accelerated basis over 12 years.” |
| Customer | EndoGastric Solutions | “We are amortizing the EGS developed technology intangible assets over ten years, the trademark intangible assets over 11 years, and the customer list intangible asset on an accelerated basis over 11 years.” |
| Partner | Pentax of America | “Cash outflows invested in acquisitions for the year ended December 31, 2025 were $144.8 million and were primarily related to payments required by our merger agreement with Biolife LLC ($120.0 million) and our asset purchase agreement with Pentax of America, Inc. ($19 million).” |
| Partner | Scholten Surgical Instruments | “On March 8, 2024, we entered into an asset purchase agreement with Scholten Surgical Instruments, Inc. ("SSI") to acquire the assets associated with the Bioptome™, Novatome®, and Sensatome™ devices.” |
| Partner | Medical | “As a former shareholder of Cianna Medical, a former Merit director was eligible for payments for the achievement of sales milestones specified in our merger agreement with Cianna Medical completed in 2018.” |
| Competitor | Johnson & Johnson (JNJ) | “Our primary competitors in our spine market are Medtronic, Stryker Corporation, and Johnson & Johnson.” |
Quoted from the company's 10-K filed Feb 24, 2026.
Companies that name MMSI in their SEC reports
| Relationship to MMSI | Company | Filing | Sentence |
|---|---|---|---|
| customer | ANGIODYNAMICS INC (ANGO) | 10-K Jul 14, 2026 | “The Company and Merit entered into various agreements to facilitate the transition of the divested businesses to Merit, including a Transition Services Agreement and Contract Manufacturing Agreement.” |
MMSI company outlook (results filed Jul 30, 2026)
- “(2) "Prior Guidance" reflects Merit's full-year 2026 financial guidance, previously introduced on April 30, 2026.”
Quoted word-for-word from the SEC 8-K results press release.
MMSI analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $1.03 | $1.02 | +1.5% | $410.4M | 10 |
| Next quarter (ends Dec 2026) | $1.14 | $1.15 | -1.2% | $425.0M | 10 |
| Current fiscal year (ends Dec 2026) | $4.30 | $4.07 | +5.6% | $1.64B | 10 |
| Next fiscal year (ends Dec 2027) | $4.61 | $4.40 | +4.8% | $1.74B | 10 |
MMSI options: expected move
Options price a move of about ±8.1% (±$7.58) by Nov 20, 2026, which includes earnings on Oct 29, 2026. Over the last 8 reports the stock moved ±4% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 35.5% | ±8.1% |
| Dec 18, 2026 | 56 | 30.4% | ±9.6% |
| Jan 15, 2027 | 84 | 30.3% | ±11.7% |
| Apr 16, 2027 | 175 | 30.4% | ±16.8% |
30-day implied volatility 30.4% vs 22.3% realized over the last 30 trading days. Put/call ratio (volume) 0.33. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 14:20 UTC)
| Price | USD 93.15 |
|---|---|
| Change | ▼ 0.84% (down) |
| Previous Close | USD 93.94 |
| Open | USD 93.53 |
| Day Range | USD 93.11 – 93.87 |
| 52-Week Range | USD 59.74 – 94.75 |
| Volume | 29,737 shares |
| Market Cap | $5.56B |
| Exchange | NMS |
Technical Analysis (MMSI)
Nexqual's technical model rates MMSI "BUY" based on 5 bullish and 1 bearish signals across 128 daily candles, as of October 23, 2026 at 14:20 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 66.08 (neutral) |
| vs SMA50 | Above (USD 88.45) |
| MACD | 1.47 (positive) |
Earnings (MMSI)
| Next Earnings Date | 2026-10-29 |
|---|---|
| EPS Estimate | USD 1.03 |
| Revenue Estimate | $410.38M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 1.19 vs est 0.96 ▲ beat |
| 2026-03-31 | USD 0.94 vs est 0.83 ▲ beat |
| 2025-12-31 | USD 1.04 vs est 0.95 ▲ beat |
| 2025-09-30 | USD 0.92 vs est 0.83 ▲ beat |
Source: Nexqual, October 23, 2026 at 14:20 UTC.
Financials & Fundamentals (MMSI)
| Total Revenue | $1.58B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +9.50% |
| Gross Margin | +49.51% |
| Operating Margin | +14.46% |
| Profit Margin | +9.22% |
| ROE | +9.19% |
| Debt / Equity | 0.49 |
| Current Ratio | 4.2 |
| Total Cash | $448.70M |
| Total Debt | $820.12M |
Source: Nexqual, October 23, 2026 at 14:20 UTC.
Ownership (MMSI)
| Insider Ownership | +2.45% |
|---|---|
| Institutional Ownership | +108.07% |
| Shares Outstanding | 59.71M |
| Float | 58.30M |
| Short % of Float | +8.22% |
Source: Nexqual, October 23, 2026 at 14:20 UTC.
From Merit Medical Systems, Inc.'s Latest SEC 10-K Filing (filed 2026-02-24)
Key Strengths & Strategy (as disclosed to the SEC)
- Merit Medical Systems, Inc. is a leading manufacturer and marketer of proprietary medical devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care and endoscopy.
- We manufacture many of our products using our proprietary technology and our expertise in plastic injection molding, insert molding and extrusion and in embolotherapy products production, along with many other technologically advanced manufacturing processes.
Partnerships
- In October 2020, we entered into a Corporate Integrity Agreement ("CIA") with the Office of Inspector General ("OIG"), a five-year agreement that was a condition of our settlement with the United States Department of Justice ("DOJ").
Legal & Regulatory Risks (Item 1A, quoted)
- The FDA regulatory clearance process is extensive and dynamic, and the failure to obtain and maintain required regulatory clearances and approvals could prevent us from commercializing our products.
- We may make changes to our cleared or approved devices without seeking additional clearances or approvals if we determine such clearances or approvals are not necessary and document the basis for that conclusion.
- The medical device industry is subject to extensive scrutiny and regulation by governmental and other authorities. If governmental authorities determine that we have violated laws or regulations, our company or our employees may be subject to various penalties, including civil or criminal penalties.
- We anticipate that governmental authorities will continue to scrutinize our industry closely, and that additional regulation by governmental authorities may increase compliance costs, exposure to litigation and other adverse effects on our operations.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
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|---|---|---|---|
| TFX | Teleflex Incorporated | USD 135.47 | ▼ 0.81% |
| STVN | Stevanato Group S.p.A. | USD 19.61 | ▲ 0.54% |
| MMED | MiniMed Group, Inc. | USD 18.02 | ▼ 1.48% |
| BLCO | Bausch + Lomb Corporation | USD 17.24 | ▼ 1.09% |
| ICUI | ICU Medical, Inc. | USD 166.4 | ▼ 1.15% |
| ATR | AptarGroup, Inc. | USD 125.93 | ▼ 1.69% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 14:20 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt