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Merit Medical Systems, Inc.

MMSI

Healthcare · 86.42 -0.8% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

Merit Medical Systems, Inc.'s current read is isolated; its market group is not confirming.

The latest filing evidence is available. 0 of 20 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 10 directly disclosed connections are confirming.

What changed
  • Revenue increased 7.5% versus the comparable filing period.
Company-0.8% todayVolume comparison unavailable
Market group0 of 20 activeMedical Devices · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • MMSI's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if MMSI's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Healthcare · Medical Instruments & Supplies

The latest filing evidence is available. 0 of 20 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 10 directly disclosed connections are confirming.

Evidence that supports
  • Revenue increased 7.5% versus the comparable filing period.
  • Net income increased 36.0% versus the comparable filing period.
Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • MMSI's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements47
Verified relationships10
Evidence supporting the case
  • Latest annual revenue changed +11.8% year over year.
  • Operating cash flow covered net income at 2.31x in the latest annual period.
Evidence challenging the case
  • Credit and interest rates has repeated adverse evidence across 3 filings.
Questions before a position
  • EV/sales is 20% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

86.42
6m+23.3%12m-5.7%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$1.1B+11.5%$0.84+3.5%
2022-12-31$1.2B+7.1%$1.29+0.5%
2023-12-31$1.3B+9.2%$1.62+1.2%
2024-12-31$1.4B+7.9%$2.03+1.7%
2025-12-31$1.5B+11.8%$2.13+1.8%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesnegative · 3 filings
The increase in other expense for 2025 compared to 2024 was principally the result of a decrease in interest income associated with decreased average cash and cash equivalents during the period, partially offset by reduced interest expense associated with bor…
10-K · Feb 24, 2026
Legal and regulatory exposurepositive · 2 filings
For the three and nine-month periods ended September 30, 2025, R&D expenses increased compared to the corresponding periods of 2024 primarily due to increased regulatory costs and clinical trials.
10-Q · Oct 30, 2025
Supply chain and availabilitynegative · 1 filings
Gains and losses resulting from these translations are included in accumulated other comprehensive loss as a separate component of stockholders’ equity.
10-K · Feb 24, 2026
Tariffs and trade policypositive · 1 filings
The Company is the importer of record for certain raw materials and products that were previously subject to such tariffs under IEEPA.
10-Q · Apr 30, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 3.4× · EV/sales 3.6×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

86.42-0.8% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for MMSI. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Latest filing assessment · baseline

Fundamentals strengthened in the latest filing

10-Q filed 2026-04-30 against the comparable filing from 2025-04-24.

constructive
OperationsconstructiveEvidence score +2
liquidityneutralEvidence score 0
valuationmixed

What improved

  • Revenue increased 7.5% versus the comparable filing period.
  • Net income increased 36.0% versus the comparable filing period.

What weakened

No thresholded deterioration was identified.

Filing receipts

The increase in our net income for the three-month period ended March 31, 2026 was the result of several principal factors, including increased sales and other income, partially offset by increased SG&A expenses and income tax expense. ​ ​ LIQUIDITY AND CAPITAL RESOURCES Capital Commitments, Contractual Obligations and Cash Flows As of March 31, 2026 and December 31, 2025, our current assets exceeded current liabilities by $884.9 million and $800.4 million, respectively, and we had cash, cash equivalents and restricted cash of $490.2 million and $448.5 million, respectively, of which $65.1 million and $66.0 million, respectively, were held by foreign subsidiaries.

For the three-month period ended March 31, 2026, SG&A expenses increased compared to the corresponding period of 2025, primarily due to an increase in labor-related costs including (i) commissions associated with sales growth and (ii) headcount additions to support investment in the business and growth from acquisitions, including those in connection with the Biolife Merger.

The increase in income tax expense for the three-month period ended March 31, 2026, when compared to the prior-year period, was primarily due to increased pre-tax book income and rate impact items previously listed.

Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.

Business ecosystem

The relationships behind MMSI

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

BLFSBioLife Solutions, Inc.supplierApr 30, 2026

Sales for the three-month period ended March 31, 2026 were favorably affected by increased sales within our access platform, including sales of our StatSeal and WoundSeal products acquired from Biolife, and our vascular intervention platforms, partially offse…

BLFSBioLife Solutions, Inc.partnerApr 30, 2026

For the three-month period ended March 31, 2026, SG&A expenses increased compared to the corresponding period of 2025, primarily due to an increase in labor-related costs including (i) commissions associated with sales growth and (ii) headcount additions to s…

ABTAbbott LaboratoriescompetitorFeb 24, 2026

Our primary competitors in our cardiac intervention market are BD, Teleflex, Medtronic, Abbott Laboratories, Terumo Corporation, Edwards Lifesciences Corporation, Cook Medical, and Boston Scientific.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 8 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

MMSI is currently a Follower in the organic co-movement group Medical Devices. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.