MMSI

Healthcare

Merit Medical Systems, Inc. · Medical - Instruments & Supplies · $4B

UQS Score — Balanced Preset
50.1
Below Average

Merit Medical Systems, Inc. scores 50.1/100 using the Balanced preset.

UQS vs Healthcare Sector
MMSI
50.1
Sector avg
32.4
Quality
Neutral
Moat
Weak
Growth
Neutral
Risk
Good
Valuation
Good

What is Merit Medical Systems, Inc.?

Merit Medical Systems designs and manufactures single-use medical devices used across cardiology, radiology, oncology, critical care, and endoscopy. Headquartered in South Jordan, Utah, the company sells to hospitals and clinical settings worldwide through direct sales and distribution partners.

Merit Medical operates through two segments — Cardiovascular and Endoscopy — generating revenue by selling disposable procedural products to hospitals, physicians, and alternate-site care providers. Its cardiovascular portfolio covers peripheral and cardiac intervention, hemodynamic monitoring, and fluid management. The endoscopy segment addresses pulmonary and gastroenterology procedures. Products reach customers via a direct sales force, distributors, and original equipment manufacturer partnerships across the United States and international markets.

Merit Medical was founded in 1990 and is headquartered in South Jordan, Utah.

  • Peripheral and cardiac intervention devices
  • Hemostasis and fluid management products
  • Custom procedural trays and kits
  • Tracheobronchial stents and dilation balloons
  • Sensor components and coated tubes and wires

Is MMSI a Good Stock to Buy?

UQS Score rates MMSI as Below Average overall, reflecting a mixed profile across the five quality pillars.

The Risk pillar and Valuation pillar are the relative bright spots in MMSI's profile. The Risk assessment suggests the company carries a manageable financial risk profile relative to sector peers, while the Valuation pillar indicates the stock does not appear significantly stretched — a notable consideration for a mid-cap healthcare name.

The Moat pillar registers as Weak, pointing to limited durable competitive advantages, while Quality and Growth both land at Neutral — suggesting neither a clear earnings-quality edge nor a compelling growth trajectory at this time.

See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →

Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.

Does MMSI pay dividends?

No — Merit Medical Systems, Inc. does not currently pay a dividend.

Merit Medical does not currently pay a dividend. For a company operating in the single-use medical device space, retaining capital to fund product development, manufacturing scale, and potential acquisitions is a common strategic choice. Income-focused investors should factor this into their assessment, while growth-oriented investors may view reinvestment as consistent with the business model.

When does MMSI report earnings?

Merit Medical Systems reports earnings on a quarterly cadence, typical for US-listed equities.

The company's recent results reflect the dynamics of a mid-cap medical device manufacturer navigating procedure volume trends, pricing pressures, and ongoing investment in its product portfolio. Revenue contributions from both the Cardiovascular and Endoscopy segments influence quarterly outcomes.

For the most recent quarter's results and guidance, visit Merit Medical Systems' investor relations page directly.

MMSI Price History

+12.5% over 5Y

Monthly close, adjusted for stock splits and dividend reinvestment.

Return Calculator

What if I invested in Merit Medical Systems, Inc.?

$
Today it would be worth
$11,135
That's a +11.3% total return, or +2.2% annualized.

Based on Merit Medical Systems, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.

MMSI Long-term Outlook

MMSI's Growth pillar sits at Neutral, suggesting the company is expanding at a pace broadly in line with sector expectations rather than outperforming. The Risk pillar's Good rating provides some confidence that near-term financial stability is not a primary concern. However, the Weak Moat pillar introduces uncertainty about the company's ability to defend margins and market share as competition in single-use medical devices intensifies. The Valuation pillar at Good implies the current price may offer a more balanced entry point relative to peers.

Growth drivers

  • Expanding procedural volumes in cardiology and radiology end markets
  • International distribution growth and OEM partnerships
  • Broadening the endoscopy product portfolio into adjacent clinical areas

Key risks

  • Limited moat may pressure pricing power against larger device competitors
  • Healthcare reimbursement changes affecting hospital purchasing budgets
  • Integration and execution risk from acquisitions in a fragmented market

MMSI vs Peers

Merit Medical competes in the broader single-use medical device and procedural products space alongside several mid-cap peers.

STVNSimilar UQS
Stevanato Group S.p.A.

Stevanato focuses on drug containment and delivery systems for pharmaceutical customers, giving it a different end-market exposure than Merit Medical's hospital-facing procedural device portfolio.

ICUIMMSI scores higher
ICU Medical, Inc.

ICU Medical concentrates on infusion therapy and critical care products, overlapping with Merit Medical in fluid management but with a broader infusion systems platform.

AVTRMMSI scores higher
Avantor, Inc.

Avantor operates as a life sciences materials and solutions provider, serving biopharma and lab customers rather than the interventional procedure market where Merit Medical competes.

Frequently Asked Questions

What does Merit Medical Systems do?

Merit Medical Systems designs, manufactures, and markets single-use medical devices for interventional and diagnostic procedures. Its products serve cardiology, radiology, oncology, critical care, and endoscopy settings. The company sells to hospitals and clinical providers through direct sales teams, distributors, and OEM partners in the US and internationally.

Does MMSI pay dividends?

Merit Medical does not currently pay a dividend. The company retains capital to support product development, manufacturing, and potential acquisitions — a common approach for mid-cap medical device companies focused on expanding their procedural product portfolio.

When does MMSI report earnings?

Merit Medical reports earnings on a quarterly cadence, consistent with US-listed public companies. For the exact schedule and most recent results, check the investor relations section of the Merit Medical Systems website.

Is MMSI a good stock to buy?

UQS Score rates MMSI as Below Average overall. The Risk and Valuation pillars are relative strengths, but the Weak Moat and Neutral Quality and Growth ratings temper the overall picture. Investors should review the full pillar breakdown available to UQS Pro members before drawing conclusions.

Is MMSI overvalued?

The UQS Valuation pillar for MMSI is rated Good, suggesting the stock does not appear significantly overpriced relative to its fundamentals and sector peers. That said, valuation is one of five pillars — the complete picture requires reviewing quality, growth, moat, and risk together.

How does MMSI compare to its competitors?

Merit Medical operates in a competitive segment of the medical device market alongside companies like ICU Medical and Stevanato Group. Its focus on single-use interventional and endoscopy products differentiates it from peers with broader platform offerings, though the Weak Moat pillar suggests limited structural advantages over rivals.

What is MMSI's market cap bracket?

Merit Medical Systems is classified as a mid-cap company. This places it in a segment of the market that typically offers more growth potential than large-caps but with greater volatility and less pricing power than the largest medical device manufacturers.

Who founded Merit Medical Systems?

Merit Medical Systems was founded in 1990. For detailed founding history and leadership background, the company's official website and public filings provide comprehensive information.

Is MMSI a long-term quality stock?

As a long-term quality indicator, MMSI's Below Average UQS Score reflects a profile that carries meaningful limitations — particularly the Weak Moat pillar, which raises questions about durable competitive positioning. The Good Risk rating offers some stability, but long-term investors should weigh the full five-pillar analysis available through UQS Pro.

What is the main competitive advantage of Merit Medical?

Merit Medical's breadth of single-use procedural products across multiple clinical specialties — cardiology, radiology, and endoscopy — provides some diversification. However, the UQS Moat pillar rates as Weak, indicating that durable structural advantages relative to competitors are limited at this time.

What sector does MMSI belong to?

Merit Medical Systems operates in the Healthcare sector, specifically within the medical devices and equipment industry. Its products are used in interventional, diagnostic, and therapeutic procedures across hospital and alternate-site clinical settings.

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Pro Analysis

MMSI — Score History

4045505560Apr 2Apr 12Apr 22May 2May 12May 22May 24v5
Score changes· 18 most recent
DateUQSQualityMoatGrowthRiskValueChange
May 23, 202650.149.326.046.670.476.3-0.2
May 22, 202650.349.326.046.670.477.4+0.8
May 7, 202649.547.026.046.666.480.0-0.1
May 3, 202649.647.026.046.666.480.5+0.4
Apr 27, 202649.247.026.046.666.477.60.0
Apr 26, 202649.247.026.046.766.477.6+0.3
Apr 22, 202648.947.026.046.766.475.90.0
Apr 19, 202648.947.026.046.566.475.9-0.4
Apr 18, 202649.347.526.046.566.477.6-0.4
Apr 16, 202649.747.526.046.566.480.2+0.1

MMSI — Pillar Breakdown

Quality

49.3/100 (25%)

Merit Medical Systems, Inc. has average quality metrics, with room for improvement in margins or capital efficiency.

Capital Efficiency (ROIC)Weak

How effectively capital is deployed to generate returns.

Return on EquityWeak

Profitability relative to shareholders' equity.

Operating ProfitabilityModerate

Ability to convert revenue into operating profit.

Net ProfitabilityModerate

Bottom-line profit as a share of revenue.

Gross Profit / AssetsModerate

Asset productivity — how much gross profit each dollar of assets generates.

Cash GenerationStrong

Free cash flow relative to market value.

Growth

46.6/100 (20%)

Merit Medical Systems, Inc. shows steady but unspectacular growth, typical for mature companies.

Recent Revenue TrendWeak

Revenue trajectory over the last twelve months.

3Y Revenue CAGRWeak

Compound annual revenue growth rate over 3 years.

EPS GrowthWeak

Year-over-year earnings per share growth.

Forward Revenue OutlookModerate

Analyst consensus for future revenue growth.

Forward EPS GrowthStrong

Analyst consensus for future earnings growth.

Risk

70.4/100 (15%)

Merit Medical Systems, Inc. maintains a reasonable risk profile with manageable debt levels.

Financial LeverageModerate

Debt levels relative to earnings capacity.

Debt/EquityStrong

Total debt relative to shareholder equity.

Current RatioStrong

Short-term liquidity — ability to pay near-term obligations.

Interest CoverageModerate

Earnings capacity relative to interest payments.

Valuation

76.3/100 (15%)

Merit Medical Systems, Inc. appears attractively valued relative to its earnings, cash flows, and sector peers.

Earnings YieldModerate

Inverse of forward P/E — higher yield means cheaper stock.

Price to Free Cash FlowStrong

How many years of FCF the market cap represents.

PEG RatioStrong

P/E relative to earnings growth — lower is more attractive.

EV/EBITDA vs SectorModerate

Enterprise value multiple relative to sector median.

Moat

26/100 (25%)

Merit Medical Systems, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for MMSI.

Score Composition

Quality
49.3×25%12.3
Growth
46.6×20%9.3
Risk
70.4×15%10.6
Valuation
76.3×15%11.4
Moat
26.0×25%6.5
Total
50.1Below Average

Financial Data

More Stock Analysis

How is the MMSI UQS Score Calculated?

The UQS (Unified Quality Score) for Merit Medical Systems, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.

Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.

Moat (25%) assesses Merit Medical Systems, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.

Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.

Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.

Valuation (15%) measures whether Merit Medical Systems, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.

Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.