Merit Medical Systems (MMSI) Stock Forecast: What Could Drive It in 2026
Last updated July 2026
Short answer
What is actually driving Merit Medical Systems (MMSI) right now is Organic growth in interventional devices: Merit's core peripheral intervention, cardiac intervention, and interventional oncology lines serve procedures that continue to shift toward minimally invasive approaches. Revenue (TTM) is ~$1.54B. If that keeps playing out, the setup is favourable; the risk to it is 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. No one can predict where MMSI trades, and Walnut does not publish targets, so treat this as a scenario, not a price target or prediction.
What could drive Merit Medical Systems (MMSI) higher?
1. Organic growth in interventional devices
Merit's core peripheral intervention, cardiac intervention, and interventional oncology lines serve procedures that continue to shift toward minimally invasive approaches. Management targets low-to-mid single-digit organic constant-currency growth, with Q1 2026 organic growth near 2.7 percent inside total revenue of about $382 million. The recurring, single-use nature of much of the catalog gives revenue a razor-and-blade quality.
2. Bolt-on acquisitions
A defining feature of Merit is its steady cadence of tuck-in acquisitions that add product lines and lift reported growth above the organic rate. Acquired products contributed several points of the roughly 7 percent GAAP growth in Q1 2026. This M&A engine is both a growth driver and a source of integration and capital-allocation risk.
3. Margin expansion and EPS leverage
Merit has pushed its non-GAAP operating margin higher, reaching about 19.7 percent in Q1 2026, its highest first-quarter figure on record. That operating leverage turns mid-single-digit revenue growth into high-single-digit non-GAAP EPS growth, the central mechanism behind the company's earnings story.
4. International and endoscopy expansion
The Endoscopy segment and international markets offer additional runway beyond the mature U.S. cardiovascular base. Global reach also exposes Merit to currency swings and geopolitical shipping disruptions, which trimmed a small amount of Q1 2026 revenue tied to Middle East tensions.
What could weigh on MMSI?
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.
Where MMSI trades today
A forecast starts from where the stock actually is. These are MMSI's current figures, not a projection: the drivers and risks above are what would move them.
Snapshot for MMSI as of July 2026, sourced from Yahoo Finance and may be delayed. Valuation figures move with price and earnings; verify the current numbers with your broker before deciding.
How to think about a MMSI forecast
Rather than chasing a price target, it tends to help to weigh the drivers above against the risks, decide how long you are willing to hold, and size the position so a wrong call is survivable. A “forecast” is really a probability-weighted view of those drivers playing out, not a number.
For the full picture, see the MMSI guide and whether MMSI is a buy. In Walnut you can pressure-test the thesis against your real portfolio.
The bottom line on the MMSI outlook
The bottom line: what is driving Merit Medical Systems (MMSI) is Organic growth in interventional devices, with revenue (ttm) at ~$1.54B. If that keeps playing out the setup is favourable; the risk is 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. No one can predict the price, so treat any MMSI forecast as a scenario, not a target or prediction, and decide from your own thesis and time horizon. Walnut is not an investment adviser.
More on MMSI
- MMSI stock guide (what the company does, ETFs that hold it, similar stocks, and the themes it fits)
- Is MMSI a buy? (the case for, the risks, and a framework to decide)
- Does MMSI pay a dividend?
Build a basket around MMSI with Walnut
Use Merit Medical Systems as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What is the forecast for Merit Medical Systems (MMSI)?
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No one can reliably predict where MMSI will trade, and Walnut does not publish price targets. What is more useful is the setup: the drivers that could push Merit Medical Systems higher and the risks that could weigh on it. This page lays out both so you can form your own view. Not a recommendation.
What could drive MMSI higher?
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The main growth drivers are Organic growth in interventional devices; Bolt-on acquisitions; Margin expansion and EPS leverage. Whether they play out is the real question, not a guaranteed path.
What are the risks to MMSI?
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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.
Will MMSI stock go up in 2026?
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Nobody knows, and anyone who says they do is guessing. Merit Medical Systems's direction depends on whether the drivers above outweigh the risks, plus the broader market. Focus on the thesis and your time horizon rather than a single-year call.
Is MMSI a buy?
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That depends on your thesis, time horizon, and what you already own, not on a forecast. See the MMSI "is it a buy?" page for a framework. Walnut is not an investment adviser.
Walnut is informational, not investment advice. This page describes drivers and risks; it is not a price forecast, target, or recommendation. Markets are uncertain and past performance does not predict future results.