Merit Medical Systems, Inc. (MMSI) Stock Price & How to Invest

Merit Medical Systems designs, manufactures, and markets a broad catalog of single-use and capital medical devices used in minimally invasive procedures. Its business splits into two segments: Cardiovascular (peripheral intervention, cardiac intervention, interventional oncology and spine, and cardiovascular and critical care) and Endoscopy (non-vascular stents, balloon dilators, and related tools for gastroenterologists and pulmonologists). The company sells globally through direct sales forces and distributors, and it has grown revenue toward roughly $1.5 to $1.6 billion annually, driven by a mix of organic volume and frequent product-line acquisitions.

The investment picture is one of a steady compounder rather than a high-growth story. Merit converts single-digit revenue growth into faster non-GAAP EPS growth through margin expansion, and it trades at a premium medical-device multiple that reflects its consistency and acquisition track record. The picture also carries typical med-tech considerations: tariff and input-cost pressure on gross margin, reliance on M&A to sustain growth, and competition against much larger diversified device companies.

Merit competes against far larger and better-capitalized device companies including Boston Scientific, Medtronic, Abbott, Teleflex, Becton Dickinson, and Terumo, which can pressure pricing and share. Tariffs weighed on gross margin by roughly 120 basis points in early 2026, and input-cost and currency volatility remain ongoing headwinds. The growth model leans on continued acquisitions, so a slowdown in deal flow or a poorly integrated deal could stall the story. The stock also trades at a premium med-tech multiple, which leaves little room for execution missteps. Regulatory, reimbursement, and product-recall risks are inherent to the medical device industry.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Merit Medical Systems, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$1.54B
• Market cap: ~$4.0B
• Net income (TTM): ~$139M
• P/E (GAAP, TTM): ~27x
• 2026 revenue guidance: ~$1.61B to $1.63B
• 2026 non-GAAP EPS guidance: ~$4.01 to $4.15

Merit trades around a mid-20s to high-20s P/E on trailing GAAP earnings, a premium that reflects its consistency and acquisition-driven model. Q1 2026 revenue of about $382 million rose 7 percent year over year, with non-GAAP EPS of $0.94 beating expectations. Full-year 2026 guidance implies roughly 6 to 8 percent revenue growth and mid-to-high single-digit non-GAAP EPS growth.

There are three common ways to get MMSI exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so MMSI sits alongside other stocks that express the same thesis.

Walnut takes the basket route. Describe a thesis where MMSI fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

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MMSI is a bet on durable, mid-single-digit growth in interventional and endoscopy devices, run by a management team that pairs organic gains with disciplined tuck-in acquisitions.

Whether MMSI is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is MMSI a buy?, and where the stock could go from here in the MMSI stock forecast.

For income investors, whether MMSI pays a dividend and how the payout looks is covered in does MMSI pay a dividend?