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Merit Medical Systems
(NASDAQ:MMSI)
Merit Medical Systems (MMSI) vs. SPDR S&P 500 ETF (SPY)
Merit Medical Systems Business Overview & Revenue Model
Merit Medical Systems Earnings Call Summary
Merit Medical Systems Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.48B | 1.36B | 1.26B | 1.15B | 1.07B | 963.88M |
| Gross Profit | 715.90M | 643.33M | 583.87M | 519.10M | 485.33M | 401.18M |
| EBITDA | 276.11M | 297.60M | 231.44M | 181.15M | 153.45M | 102.71M |
| Net Income | 118.43M | 120.36M | 94.41M | 74.52M | 48.45M | -9.84M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 2.42B | 2.33B | 1.66B | 1.65B | 1.66B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 376.71M | 589.14M | 58.41M | 67.75M | 56.92M |
| Total Debt | 834.34M | 794.66M | 891.36M | 268.75M | 315.03M | 435.07M |
| Total Liabilities | 1.10B | 1.04B | 1.12B | 519.57M | 608.50M | 705.82M |
| Stockholders Equity | 1.53B | 1.38B | 1.20B | 1.14B | 1.04B | 958.58M |
Cash Flow | ||||||
| Free Cash Flow | 263.37M | 182.76M | 108.45M | 69.26M | 119.29M | 115.99M |
| Operating Cash Flow | 267.61M | 220.80M | 145.15M | 114.29M | 147.23M | 165.27M |
| Investing Cash Flow | -411.50M | -368.65M | -175.35M | -57.40M | -37.16M | -58.65M |
| Financing Cash Flow | 13.73M | -60.01M | 559.27M | -60.26M | -98.44M | -95.71M |
Merit Medical Systems Technical Analysis
Merit Medical Systems Risk Analysis
Merit Medical Systems Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $5.25B | 44.58 | 8.30% | ― | 11.49% | -2.89% | |
70 Outperform | $1.95B | 41.90 | 13.81% | 0.89% | 14.11% | 23.98% | |
64 Neutral | $6.82B | 46.69 | 9.55% | 0.25% | 5.95% | 7.73% | |
60 Neutral | $5.51B | 29.37 | 4.36% | 1.09% | 1.11% | -23.73% | |
58 Neutral | $3.10B | -82.51 | -1.78% | ― | 2.95% | 47.92% | |
56 Neutral | $5.57B | ― | -4.69% | ― | 6.23% | 17.53% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
Merit Medical Systems Corporate Events
Merit Medical faces a potential business risk as none of its directors or officers reported any adoption or termination of trading arrangements under Rule 10b5-1 or non-Rule 10b5-1 during the quarter ending September 30, 2025. This lack of disclosure could signal a gap in transparency or strategic planning regarding insider trading activities, which might affect investor confidence. The absence of such arrangements might also indicate a missed opportunity for the company to manage insider transactions in a structured manner. Consequently, stakeholders may view this as a risk factor that could impact the company’s governance and market perception.
Merit Medical’s recent earnings call showcased a robust financial performance, highlighted by significant revenue growth, record-setting gross margins, and a substantial increase in free cash flow. The company’s commitment to product innovation and strategic acquisitions suggests promising future prospects, although challenges persist, particularly in the Endoscopy segment and the Chinese market.
Merit Medical Systems, Inc. is a global manufacturer and marketer of healthcare technology, specializing in medical devices used in interventional, diagnostic, and therapeutic procedures across various medical fields. The company has reported a revenue of $384.2 million for the third quarter of 2025, marking a 13% increase compared to the same period in 2024. This growth was driven by strong performances in its cardiovascular and endoscopy segments.
On October 30, 2025, Merit Medical Systems announced its financial results for the third quarter of 2025, reporting a revenue of $384.2 million, a 13% increase from the same period in 2024. The company exceeded its financial expectations, prompting an update in its full-year guidance, reflecting confidence in continued growth and profitability.
The most recent analyst rating on (MMSI) stock is a Buy with a $104.00 price target. To see the full list of analyst forecasts on Merit Medical Systems stock, see the MMSI Stock Forecast page.
Study Overview: Merit Medical Systems, Inc. is conducting a prospective, multicenter, observational study titled ‘Prospective, Multicenter, Observational Study to Evaluate the Merit WRAPSODY® Cell Impermeable Endoprosthesis for Treatment of Stenosis or Occlusion Within the Dialysis Outflow Circuit (WRAP North America).’ The study aims to assess the safety and efficacy of the WRAPSODY CIE device in treating venous stenosis and occlusion in a real-world North American population, following participants up to three years post-procedure.
Study Overview: Merit Medical Systems, Inc. is conducting a study titled ‘Multicenter, Single Arm Prospective, Non-Randomized Study Designed to Evaluate the Safety and Effectiveness of the BLOOM™ Micro-Occluder System for the Treatment of Patent Ductus Arteriosus (PDA) in Pre-mature Infants (PREEMIE).’ The study aims to assess the safety and effectiveness of the Bloom Micro Occluder System in treating PDA in premature infants, a condition that can lead to serious health issues if left untreated.
Study Overview: The PReSeRVE-HD study, officially titled ‘PRospective, Multicenter, Observational Study of the Merit HeRO® Graft and Super HeRO® EValuated in End-Stage Renal Disease Patients on HemoDialysis,’ aims to evaluate the safety and performance of the HeRO® Graft System and Super HeRO® devices in patients with end-stage renal disease undergoing hemodialysis. This study is significant as it seeks to improve long-term dialysis access for patients when other options have failed.
Study Overview: Merit Medical Systems, Inc. is conducting a US Post-Market Surveillance Study of the Surfacer® Inside-Out® Access Catheter System. This study aims to evaluate the system’s effectiveness in providing central venous access for patients with upper body venous occlusions or conditions that prevent conventional access. The study is significant as it addresses a critical need for alternative venous access solutions.
Study Overview: Merit Medical Systems, Inc. is conducting a prospective, multi-center study titled ‘Prospective, Multi-Center Study Using Bearing nsPVA Embolization Particles for the Treatment of uTErine fibRoids With Uterine Artery Embolization.’ The study aims to evaluate the safety and performance of Bearing nsPVA Embolization Particles in treating uterine fibroids through uterine artery embolization, highlighting its potential benefits in managing this common condition.
The WRAP Study, officially titled ‘Prospective, Multicenter, Observational Study to Evaluate the Merit WRAPSODY™ Endoprosthesis for Treatment of Stenosis or Occlusion Within the Dialysis Outflow Circuit of an Arteriovenous (AVF) Fistula or AV Graft (AVG) (The WRAP Registry),’ aims to gather real-world data on the safety and efficacy of the WRAPSODY Endoprosthesis System. This study is significant as it seeks to address venous stenosis and occlusion, conditions that can severely impact dialysis patients.
On October 15, 2025, Merit Medical Systems announced a definitive agreement to acquire the C2 CryoBalloon device and related technology from Pentax of America, Inc. for $22 million. This acquisition aims to enhance Merit’s endoscopy portfolio, particularly in the gastroenterology market, by providing innovative solutions for gastrointestinal disorders such as Barrett’s esophagus. The transaction is expected to close in the fourth quarter of 2025, with anticipated revenue contributions of $6 million to $8 million in 2026. The acquisition is projected to initially dilute Merit’s earnings but is expected to be accretive in the long term, strengthening its market position and expanding treatment options for patients.
The most recent analyst rating on (MMSI) stock is a Buy with a $104.00 price target. To see the full list of analyst forecasts on Merit Medical Systems stock, see the MMSI Stock Forecast page.
On October 3, 2025, Merit Medical Systems announced the resignation of Fred P. Lampropoulos as President and CEO, with Martha G. Aronson appointed as his successor. The Board expanded to eleven members, with Aronson also joining as a director. Lampropoulos will transition to Executive Chairman until January 3, 2026, after which he will continue as a director and Chairman. Aronson’s compensation package includes a base salary of $1,000,000, a signing bonus, and participation in Merit’s bonus and equity incentive plans. This leadership change marks a significant shift in Merit’s executive team, potentially impacting its strategic direction and stakeholder relations.
The most recent analyst rating on (MMSI) stock is a Buy with a $103.00 price target. To see the full list of analyst forecasts on Merit Medical Systems stock, see the MMSI Stock Forecast page.
Merit Medical’s recent earnings call conveyed a positive sentiment, highlighting robust revenue growth, improved operating margins, and increased cash flow. The company also discussed strategic acquisitions and leadership changes. However, challenges such as reimbursement delays for WRAPSODY CIE, reduced sales in China, and ongoing tariff impacts were acknowledged.