Is MMSI a good stock to buy right now?

Based on our 6-factor quantitative model, MERIT MEDICAL SYSTEMS INC (MMSI) receives a "Reduce" rating with a composite score of 40.5/100. It is ranked #2,978 out of 4,446 stocks. Key factor scores: Quality 50/100, Value 56/100, Momentum 25/100. The timing signal is "Neutral". This is quantitative analysis only — not investment advice.

What is the stock rating for MMSI?

MERIT MEDICAL SYSTEMS INC (MMSI) has a "Reduce" rating and 2-star score. The composite score of 40.5 ranks it #2,978 among 4,446 U.S. stocks. Ratings are updated weekly using academically-proven factor models.

What sector is MMSI in?

MERIT MEDICAL SYSTEMS INC operates in the Healthcare sector (Medical Equipment industry) with a market cap of $4.06 billion. It is classified as a mid-cap stock.

Does MMSI pay a dividend?

MMSI does not currently pay a regular dividend. The company may be reinvesting profits for growth.

What is MMSI's P/E ratio?

MMSI has a trailing P/E ratio of 33.80x. The Healthcare sector average is 23.6x. This above-average P/E reflects growth expectations or premium valuation.

How profitable is MMSI?

MMSI's quality factor score is 50/100. Gross margin: 47.9%. ROE: 7.5% vs sector average -43.5%. Margins are moderate to low, reflecting competitive market dynamics.

How is MMSI valued compared to peers?

MMSI's value factor score is 56/100 (higher = cheaper). Key multiples: P/E 33.8x, EV/EBITDA 28.3x. Valuation is roughly in line with peers.

What is MMSI's debt level?

MMSI's debt-to-equity ratio is 46%. Sector average: 32%. Low leverage suggests conservative financial management.

MMSI has a beta of 0.83, meaning it tracks the market. Stability score: 69/100.

Does MMSI have high short interest?

MMSI's short interest factor score is 12/100 (higher = less short selling). Elevated short interest may indicate bearish sentiment or short squeeze potential.

MMSI Stock Analysis: Top Mid-Cap Reduce (Score 40.5/100) | Blank Capital Research

Data Series	1D	5D	1M	YTD	1Y	3Y	5Y	10Y
MMSI	-0.57%	+0.83%	-2.08%	-22.56%	-25.43%	-	-	-
Industry Proxy XLV	-1.35%	+0.34%	-3.81%	-4.84%	+9.21%	-	-	-
U.S. Market SPY	-0.07%	+3.60%	+0.34%	-0.36%	+29.52%	-	-	-
Alpha vs Market	-0.50%	-2.78%	-2.42%	-22.19%	-54.96%	-	-	-
Alpha vs Sector	+0.78%	+0.49%	+1.73%	-17.72%	-34.64%	-	-	-

Metric	MMSI	Benchmark
P/E Ratio	33.8x	+43%
EV/EBITDA	28.3x	+347%
Price / Book	2.5x

Stock Entity	Score▼	Quality	Value	Momentum	P/E Ratio	ROE	Gross Margin	Net Margin	Rev Growth	D/E Ratio	Market Cap	Compare
AZN ASTRAZENECA PLC	61	43	77	87	45.2x	88.7%	68.6%	28.3%	-	37.0x	$311.3B	VS
SLGL Sol-Gel Technologies Ltd.	57	41	36	98	-	-146.7%	100.0%	-91.7%	-	0.0x	$271M	VS
VMD VIEMED HEALTHCARE, INC.	53	50	63	60	27.6x	9.4%	57.8%	5.4%	30.8%	39.0x	$370M	VS
INVA Innoviva, Inc.	53	50	72	60	15.9x	9.2%	78.6%	23.9%	7.9%	39.0x	$1.7B	VS
HOLX HOLOGIC INC	53	50	43	58	31.7x	10.2%	51.4%	12.9%	3.6%	48.0x	$16.9B	VS
FONR FONAR CORP	52	48	50	57	11.1x	6.5%	88.3%	10.1%	2.4%	33.0x	$117M	VS
JNJ JOHNSON & JOHNSON	52	50	39	65	21.4x	32.9%	67.8%	29.0%	9.3%	51.0x	$588.0B	VS
UTHR UNITED THERAPEUTICS Corp	51	50	63	66	19.4x	18.0%	88.4%	40.7%	11.8%	11.0x	$25.0B	VS
DGX QUEST DIAGNOSTICS INC	51	50	62	55	21.2x	14.2%	33.2%	9.6%	17.5%	79.0x	$21.7B	VS
PFE PFIZER INC	49	50	59	48	11.1x	16.1%	74.7%	22.1%	25.4%	140.0x	$162.4B	VS
MMSI MERIT MEDICAL SYSTEMS INC	41	50	56	25	33.8x	7.5%	47.9%	8.1%	13.7%	46.0x	$4.1B

Key Ratio	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Gross Margin %	0.5%	0.5%	0.5%	0.5%	0.5%	0.5%	0.4%	0.4%	0.4%	0.4%	0.4%
Operating Margin %	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	-0.0%	0.0%	0.1%	0.0%	0.1%
EBITDA Margin %	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%
Net Margin %	0.1%	0.1%	0.1%	0.1%	0.1%	0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%
FCF Margin %	-19.7%	-	-	-	-	-	12.4%	-0.0%	2.6%	3.3%	3.4%
ROE %	0.1%	0.1%	0.1%	0.1%	0.1%	0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%
ROA %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%
ROIC %	0.1%	6.3%	5.8%	4.8%	5.2%	3.8%	-0.1%	0.9%	3.7%	2.8%	3.4%

Key Ratio

TTM

2025

2024

2023

2022

2021

2020

2019

2018

2017

2016

Gross Margin %

0.5%

0.4%

Operating Margin %

0.1%

-0.0%

0.0%

0.1%

0.0%

0.1%

EBITDA Margin %

0.1%

Net Margin %

0.1%

0.0%

-0.0%

0.0%

FCF Margin %

-19.7%

12.4%

-0.0%

2.6%

3.3%

3.4%

ROE %

0.1%

0.0%

-0.0%

0.0%

ROA %

0.0%

-0.0%

0.0%

ROIC %

0.1%

6.3%

5.8%

4.8%

5.2%

3.8%

-0.1%

0.9%

3.7%

2.8%

3.4%

Line Item	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
	$1.5B	$1.5B	$1.4B	$1.3B	$1.2B	$1.1B	$964M	$995M	$883M	$728M	$604M	$542M
	—	$778M	$713M	$673M	$632M	$589M	—	—	—	—	—	—
	$700M	$738M	$643M	$584M	$519M	$485M	$401M	$432M	$395M	$326M	$265M	$236M
Gross Margin	47.9%	48.7%	47.4%	46.4%	45.1%	45.2%	41.6%	43.5%	44.7%	44.8%	43.9%	43.5%
	—	$455M	$400M	$374M	$343M	$336M	—	—	—	—	—	—
Research & Development	—	—	—	—	—	—	$58M	$66M	$60M	$64M	$46M	$42M
Depreciation	—	—	—	—	—	—	$107M	$105M	$70M	$54M	$45M	$38M
Total Operating Expenses	—	$554M	$488M	$460M	$432M	$424M	—	—	—	—	—	—
	$168M	$185M	$156M	$124M	$88M	$61M	-$2M	$15M	$59M	$33M	$35M	$38M
EBIT	$168M	$185M	$156M	$124M	$88M	$61M	-$2M	$15M	$59M	$33M	$35M	$38M
EBITDA	$168M	$185M	$156M	$124M	$88M	$61M	$103M	$120M	$129M	$97M	$79M	$76M
Operating Margin	11.5%	12.2%	11.5%	9.9%	7.6%	5.7%	-0.2%	1.6%	6.6%	4.5%	5.8%	6.9%
EBITDA Margin	11.5%	12.2%	11.5%	9.9%	7.6%	5.7%	10.7%	12.0%	14.6%	13.4%	13.0%	13.9%
	—	—	—	$16M	$6M	$5M	$10M	$12M	$10M	$8M	$9M	$6M
	—	$171M	$150M	$112M	$83M	$54M	—	—	—	—	—	—
Income Tax Expense	—	$42M	$30M	$18M	$8M	$5M	-$3M	-$3M	$8M	$8M	$5M	$7M
	$119M	$128M	$120M	$94M	$75M	$48M	-$10M	$5M	$42M	$28M	$20M	$24M
Net Margin	8.1%	8.5%	8.9%	7.5%	6.5%	4.5%	-1.0%	0.5%	4.8%	3.8%	3.3%	4.4%
	$2.17	$2.17	$2.07	$1.64	$1.31	$0.86	$-0.18	$0.10	$0.80	$0.56	$0.45	$0.54
Diluted EPS	$2.17	$2.13	$2.03	$1.62	$1.29	$0.84	$-0.18	$0.10	$0.80	$0.56	$0.45	$0.54
Weighted Avg Basic	—	59M	58M	58M	57M	56M	—	—	—	—	—	—
Weighted Avg Diluted	—	60M	59M	58M	58M	57M	—	—	—	—	—	—

Line Item

TTM

2025

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

$1.5B

$1.4B

$1.3B

$1.2B

$1.1B

$964M

$995M

$883M

$728M

$604M

$542M

—

$778M

$713M

$673M

$632M

$589M

—

$700M

$738M

$643M

$584M

$519M

$485M

$401M

$432M

$395M

$326M

$265M

$236M

Gross Margin

47.9%

48.7%

47.4%

46.4%

45.1%

45.2%

41.6%

43.5%

44.7%

44.8%

43.9%

43.5%

—

$455M

$400M

$374M

$343M

$336M

—

Research & Development

—

$58M

$66M

$60M

$64M

$46M

$42M

Depreciation

—

$107M

$105M

$70M

$54M

$45M

$38M

Total Operating Expenses

—

$554M

$488M

$460M

$432M

$424M

—

$168M

$185M

$156M

$124M

$88M

$61M

-$2M

$15M

$59M

$33M

$35M

$38M

EBIT

$168M

$185M

$156M

$124M

$88M

$61M

-$2M

$15M

$59M

$33M

$35M

$38M

EBITDA

$168M

$185M

$156M

$124M

$88M

$61M

$103M

$120M

$129M

$97M

$79M

$76M

Operating Margin

11.5%

12.2%

11.5%

9.9%

7.6%

5.7%

-0.2%

1.6%

6.6%

4.5%

5.8%

6.9%

EBITDA Margin

11.5%

12.2%

11.5%

9.9%

7.6%

5.7%

10.7%

12.0%

14.6%

13.4%

13.0%

13.9%

—

$16M

$6M

$5M

$10M

$12M

$10M

$8M

$9M

$6M

—

$171M

$150M

$112M

$83M

$54M

—

Income Tax Expense

—

$42M

$30M

$18M

$8M

$5M

-$3M

$8M

$5M

$7M

$119M

$128M

$120M

$94M

$75M

$48M

-$10M

$5M

$42M

$28M

$20M

$24M

Net Margin

8.1%

8.5%

8.9%

7.5%

6.5%

4.5%

-1.0%

0.5%

4.8%

3.8%

3.3%

4.4%

$2.17

$2.07

$1.64

$1.31

$0.86

$-0.18

$0.10

$0.80

$0.56

$0.45

$0.54

Diluted EPS

$2.17

$2.13

$2.03

$1.62

$1.29

$0.84

$-0.18

$0.10

$0.80

$0.56

$0.45

$0.54

Weighted Avg Basic

—

59M

58M

57M

56M

—

Weighted Avg Diluted

—

60M

59M

58M

57M

—

MERIT MEDICAL SYSTEMS INC (MMSI) Stock Analysis — April 2026 Rating, Price, and Forecast

Last updated: April 2026

Company Overview — What Does MERIT MEDICAL SYSTEMS INC Do?

Merit Medical Systems, Inc. designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. The company operates in two segments, Cardiovascular and Endoscopy. It provides peripheral intervention products for the diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions. The company also offers custom procedural solutions that include critical care products, disinfection protection systems, syringes, manifold kits, and trays and packs; coated tubes and wires; and sensor components for microelectromechanical systems. In addition, it provides pulmonary products that consist of laser-cut tracheobronchial stents, over-the-wire and direct visualization delivery systems, and dilation balloons to endoscopically dilate strictures; gastroenterology products; and kits and accessories for endoscopy and bronchoscopy procedures. The company sells its products to hospitals and alternate site-based physicians, technicians, and nurses through direct sales force, distributors, original equipment manufacturer partners, or custom procedure tray manufacturers in the United States and internationally. Merit Medical Systems, Inc. was incorporated in 1987 and is headquartered in South Jordan, Utah. MERIT MEDICAL SYSTEMS INC (MMSI) is classified as a mid-cap stock in the Healthcare sector, specifically within the Medical Equipment industry. The company is led by CEO Fred P. Lampropoulos and employs approximately 6,850 people, headquartered in South Jordan, Utah. With a market capitalization of $4.1B, MMSI is one of the notable companies in the Healthcare sector.

MERIT MEDICAL SYSTEMS INC (MMSI) Stock Rating — Reduce (April 2026)

As of April 2026, MERIT MEDICAL SYSTEMS INC receives a Reduce rating with a composite score of 40.5/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.MMSI ranks #2,978 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, MERIT MEDICAL SYSTEMS INC ranks #426 of 838 stocks, placing it in the lower half of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

MMSI Stock Price and 52-Week Range

MERIT MEDICAL SYSTEMS INC (MMSI) currently trades at $68.26. The stock lost $0.39 (0.6%) in the most recent trading session. The 52-week high for MMSI is $107.27, which means the stock is currently trading -36.4% from its annual peak. The 52-week low is $67.42, putting the stock 1.3% above its annual trough. Recent trading volume was 521K shares, suggesting relatively thin trading activity.

Is MMSI Overvalued or Undervalued? — Valuation Analysis

MERIT MEDICAL SYSTEMS INC (MMSI) carries a value factor score of 56/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 33.80x, compared to the Healthcare sector average of 23.63x — a premium of 43%. The price-to-book ratio stands at 2.54x, versus the sector average of 2.75x. The price-to-sales ratio is 2.75x, compared to 1.66x for the average Healthcare stock. On an enterprise value basis, MMSI trades at 28.34x EV/EBITDA, versus 6.34x for the sector.

Overall, MMSI's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.

MERIT MEDICAL SYSTEMS INC Profitability — ROE, Margins, and Quality Score

MERIT MEDICAL SYSTEMS INC (MMSI) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 7.5%, compared to the Healthcare sector average of -43.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at 4.4% versus the sector average of -33.1%.

On a margin basis, MERIT MEDICAL SYSTEMS INC reports gross margins of 47.9%, compared to 71.5% for the sector. The operating margin is 11.5% (sector: -66.1%). Net profit margin stands at 8.1%, versus -58.7% for the average Healthcare stock. Revenue growth is running at 13.7% on a trailing basis, compared to 10.6% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.

MMSI Debt, Balance Sheet, and Financial Health

MERIT MEDICAL SYSTEMS INC has a debt-to-equity ratio of 46.0%, compared to the Healthcare sector average of 32.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 4.34x, indicating strong short-term liquidity. Total debt on the balance sheet is $734M. Cash and equivalents stand at $392M.

MMSI has a beta of 0.83, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for MERIT MEDICAL SYSTEMS INC is 69/100, reflecting average volatility within the normal range for its sector.

MERIT MEDICAL SYSTEMS INC Revenue and Earnings History — Quarterly Trend

In TTM 2026, MERIT MEDICAL SYSTEMS INC reported revenue of $1.46B and earnings per share (EPS) of $2.17. Net income for the quarter was $119M. Gross margin was 47.9%. Operating income came in at $168M.

In FY 2025, MERIT MEDICAL SYSTEMS INC reported revenue of $1.52B and earnings per share (EPS) of $2.17. Net income for the quarter was $128M. Gross margin was 48.7%. Revenue grew 11.8% year-over-year compared to FY 2024. Operating income came in at $185M.

In Q3 2025, MERIT MEDICAL SYSTEMS INC reported revenue of $384M and earnings per share (EPS) of $0.47. Net income for the quarter was $28M. Gross margin was 48.5%. Revenue grew 13.0% year-over-year compared to Q3 2024. Operating income came in at $43M.

In Q2 2025, MERIT MEDICAL SYSTEMS INC reported revenue of $382M and earnings per share (EPS) of $0.55. Net income for the quarter was $33M. Gross margin was 48.2%. Revenue grew 13.2% year-over-year compared to Q2 2024. Operating income came in at $47M.

Over the past 8 quarters, MERIT MEDICAL SYSTEMS INC has demonstrated a growth trajectory, with revenue expanding from $338M to $1.46B. Investors analyzing MMSI stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

MMSI Dividend Yield and Income Analysis

MERIT MEDICAL SYSTEMS INC (MMSI) does not currently pay a dividend. This is common among smaller companies in the Medical Equipment industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Healthcare dividend stocks may want to explore other Healthcare stocks or use the stock screener to filter by dividend yield.

MMSI Momentum and Technical Analysis Profile

MERIT MEDICAL SYSTEMS INC (MMSI) has a momentum factor score of 25/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 28/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 12/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.

MMSI vs Competitors — Healthcare Sector Ranking and Peer Comparison

Within the Healthcare sector, MERIT MEDICAL SYSTEMS INC (MMSI) ranks #426 out of 838 stocks based on the Blank Capital composite score. This places MMSI in the lower half of all Healthcare stocks in our coverage universe. Key competitors and sector peers include ASTRAZENECA PLC (AZN) with a score of 61.4/100, Sol-Gel Technologies Ltd. (SLGL) with a score of 56.6/100, VIEMED HEALTHCARE, INC. (VMD) with a score of 53.4/100, Innoviva, Inc. (INVA) with a score of 52.7/100, and JOHNSON & JOHNSON (JNJ) with a score of 51.7/100.

Comparing MMSI against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full MMSI vs S&P 500 (SPY) comparison to assess how MERIT MEDICAL SYSTEMS INC stacks up against the broader market across all factor dimensions.

MMSI Next Earnings Date

No upcoming earnings date has been announced for MERIT MEDICAL SYSTEMS INC (MMSI) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy MMSI? — Investment Thesis Summary

The quantitative profile for MERIT MEDICAL SYSTEMS INC suggests caution. Momentum is weak at 25/100, a headwind for near-term performance. Low volatility (stability score 69/100) reduces downside risk.

In summary, MERIT MEDICAL SYSTEMS INC (MMSI) earns a Reduce rating with a composite score of 40.5/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on MMSI stock.

Related Resources for MMSI Investors

Explore more research and tools: MMSI vs S&P 500 comparison, top Healthcare stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare MMSI head-to-head with peers: MMSI vs AZN, MMSI vs SLGL, MMSI vs VMD.

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MERIT MEDICAL SYSTEMS INC (MMSI) Stock Analysis — April 2026 Rating, Price, and Forecast

Company Overview — What Does MERIT MEDICAL SYSTEMS INC Do?

MERIT MEDICAL SYSTEMS INC (MMSI) Stock Rating — Reduce (April 2026)

MMSI Stock Price and 52-Week Range

Is MMSI Overvalued or Undervalued? — Valuation Analysis

MERIT MEDICAL SYSTEMS INC Profitability — ROE, Margins, and Quality Score

MMSI Debt, Balance Sheet, and Financial Health

MERIT MEDICAL SYSTEMS INC Revenue and Earnings History — Quarterly Trend

MMSI Dividend Yield and Income Analysis

MMSI Momentum and Technical Analysis Profile

MMSI vs Competitors — Healthcare Sector Ranking and Peer Comparison

MMSI Next Earnings Date

Should You Buy MMSI? — Investment Thesis Summary

Related Resources for MMSI Investors

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