Wells Fargo downgrades Merit Medical on 2026 guidance uncertainty

Wells Fargo downgraded Merit Medical (MMSI) to Equal Weight from Overweight with a price target of $78, down from $95. The firm cites uncertainty regarding the company’s fiscal 2026 guidance for the downgrade. Wells sees limited upside to the guidance if Merit’s Q1 headwinds persist. There is no clear catalyst to support a reacceleration of Merit’s growth, the analyst tells investors in a research note. Wells cites guidance uncertainty and a lack of catalysts for the downgrade.