Merit Medical Systems, Inc.
$60.65
+0.76%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.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is elevated (P/E 27.9).
Valuation inputs: P/E 27.9, earnings yield +3.6%, momentum +0.8%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE +8.1%, ROIC +5.6%).
Profitability stack: net margin +8.5%, ROE +8.1%, ROIC +5.6%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceDownside profile looks controlled across current risk inputs.
Risk factors: liabilities/assets +41.0%, momentum +0.8%, net margin +8.5%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Merit Medical Systems, Inc. Market vs Earnings Trajectory
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Merit Medical Systems, Inc. Fair Value Envelope
Merit Medical Systems, Inc. Profit Bridge
Profitability Analysis
Gross Margin
Strong gross margins indicate healthy pricing and efficient production or service delivery.
Operating Margin
Acceptable margins but limited operational leverage. Operating expense control is important.
Net Profit Margin
Moderate profitability with room for improvement. Monitor interest expenses and tax efficiency.
Effective Tax Rate
Moderate tax rate typical for most corporations. Represents standard tax burden on profits.
Profitability Insight
High margin compression: Large gap between gross and net margins suggests operational inefficiencies or heavy debt burden. Focus on expense management and deleveraging.
Merit Medical Systems, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.
CapEx Intensity
Moderate capital requirements typical of many stable businesses. Healthy balance between reinvestment and cash generation.
FCF Growth Trend
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working Capital Impact
Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.
Cash Flow Quality Insight
Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.
Merit Medical Systems, Inc. Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.
Debt-to-Equity Ratio
Balanced capital structure with moderate leverage. Equity exceeds debt, suggesting healthy financial stability.
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Balanced asset mix between current and non-current assets, typical of many stable businesses.
Financial Health Insight
Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.
Merit Medical Systems, Inc. Street Expectations Map
Wall Street analysts project that MMSI stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 95.00, with estimates ranging from a low of 78.00 to a high of 107.00.
The consensus 1-year price target stands at 95.00, with estimates ranging from a low of 78.00 to a high of 107.00.
Analyst Consensus Analysis
Upside Potential
Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.
Analyst Agreement
Good consensus alignment. Moderate target spread reflects general agreement on value drivers with some variance in assumptions.
Analyst Conviction
Positive outlook with reasonable agreement. Analysts generally optimistic about prospects with manageable uncertainty.
Market Sentiment Insight
Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.
Merit Medical Systems, Inc. Insider Positioning
During the last 12 months, insiders have purchased $573K and sold $8.84M worth of MMSI shares, resulting in $8.27M of net selling activity.
3 Months
9.4K
573.29K
5.0K
313.04K
+260K
+$260K
3-6 Months
0
0.00
5.0K
450.00K
-450K
-$450K
6-9 Months
0
0.00
60.0K
5.19M
-5.2M
-$5.19M
9-12 Months
0
0.00
31.0K
2.89M
-2.9M
-$2.89M
Top Buyers
Voigt Michel J.
Officer: Chief Human Resources Officer
$136K
Lloyd Brian G.
Officer: Chief Legal Officer, Secretary
$125K
Aronson Martha Goldberg
Director, Officer: President And Ceo
$121K
Smith Christian Adam
Officer: Chief Commercial Officer
$99K
Parra Raul Jr.
Officer: Cfo And Treasurer
$92K
Top Sellers
Lampropoulos Fred P.
Director, Officer: Executive Chairman
$6.18M
Parra Raul Jr.
Officer: Cfo And Treasurer
$1.42M
Ward Lynne N.
Director
$785K
Peterson Neil W.
Officer: Chief Operating Officer
$450K
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $8.27M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Recent Trend (3 Months)
Positive recent trend with net buying activity. Insiders have been accumulating shares in recent months.
Insider Participation
5 insider buyers vs. 4 sellers. More insiders buying than selling indicates positive sentiment.
No Dividend Yield Data
MMSI has not reported any dividend yield values in the available annual periods.
mmsi Dividend History
Learning Layer
Related Guides
Build conviction on MMSI by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.