| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 36 | 35.5x | 17.8x | Bottom tier | |
Growth | 73 | 10.2% | 7.1% | Top tier | |
Quality | 68 | 6.3% | 4.5% | Top tier | |
Safety | 76 | 1.0x | 2.6x | Top tier | |
Capital Return | 65 | — | 2.12% | Around median | |
Momentum | 70 | -4.0% | 2.9% | Top tier | |
Sentiment | 43 | 8 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Merit Medical Systems develops medical devices used across a range of vascular, cardiac, renal, oncology, and endoscopy procedures, and generates revenue from two main categories: core products and therapeutic products. Its portfolio drivers include peripheral intervention, cardiovascular, cardiac intervention, endoscopy, and oncology platforms, in addition to its OEM business. In fiscal Q2 2026, core product sales increased 6%, while therapeutic product sales grew 14%, reflecting a balanced contribution from both categories despite stronger growth in therapeutic products.
In fiscal Q2 2026, the company reported revenue of $418.8 million, up 10% on a GAAP basis and 9% in constant currency, while organic constant-currency growth was 9%, the company’s strongest quarterly organic growth in three years. According to EDGAR data, gross profit was $215.2 million, representing a calculated gross margin of approximately 51.4%, net income was $38.8 million, and earnings per share were $0.65. On a trailing-twelve-month basis ending in 2026, revenue was $1.6 billion, gross profit was $781.7 million, and net income was $145.6 million.
On a non-GAAP basis, operating margin was 22.6% in fiscal Q2 2026, up 142 basis points, earnings per share increased 18%, and free cash flow approached $52 million. Results benefited from $6.9 million in tariff refunds; excluding them, non-GAAP gross margin was 54.2%, operating margin was 20.9%, and earnings per share were $1.10. Cash and cash equivalents were $448.7 million as of June 30, 2026, compared with debt obligations of $747.5 million and an adjusted net leverage ratio of 1.6 times.
Automated analysis for informational purposes only — not investment advice.
The average analyst price target is $101.88, compared with a relatively wide target range of $94 to $114 and a consensus rating of “Buy.” The average target is above the 52-week range high of $94.75, while the lowest target nearly matches that high, reflecting fundamental optimism alongside clear differences in estimates of the potential upside. No price-to-earnings ratio is available in the data, so the risk assessment centers on the company’s ability to achieve its fiscal 2026 guidance and sustain margins after excluding tariff refunds.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Revenue reached $418.8 million, and organic constant-currency growth was 9%, the company’s highest quarterly rate in three years. Core products grew 7.8% organically, led by peripheral intervention and cardiovascular, while therapeutic products increased 11.7% organically, supported by cardiac intervention, endoscopy, peripheral intervention, and oncology. The OEM business also increased 15%, and contributions from Biolife and C2 CryoBalloon exceeded management’s expectations.
Merit Medical commercially launched SCOUT MD technology in late May 2026, then completed the planned U.S. launch of the OneMark system in July 2026 following the acquisition of View Point Medical. OneMark uses ultrasound, while SCOUT MD provides four distinct reflector shapes that are easy to distinguish on X-rays for cases requiring advanced localization. With the addition of OneMark, the targeted U.S. procedural market expanded from approximately 400 thousand procedures annually to as many as 1.3 million procedures.
The company expects GAAP revenue growth of between 7.6% and 8.4% and constant-currency growth of between 6.9% and 7.6% in fiscal 2026. It raised its organic constant-currency growth range to 6.9%–7.5%, with core product growth in the mid-single digits and therapeutic product growth in the high single digits to low double digits. It also expects non-GAAP diluted earnings per share of $4.25–$4.35, despite an estimated tariff impact of approximately $16 million, or $0.21 per share.
Non-GAAP gross margin was 55.8% and operating margin was 22.6% in fiscal Q2 2026. However, the results benefited from $6.9 million in tariff refunds; excluding them, gross margin was 54.2% and operating margin was 20.9%. Sustainability depends on pricing, product mix, automation, labor efficiency, and ocean freight, weighed against expected tariffs of $16 million during fiscal 2026.
The company raised its fiscal 2026 annual revenue forecast for Biolife to approximately $23 million, compared with an original estimate of between $18 million and $20 million, following strong demand for hemostasis products such as StatSeal. It expects C2 CryoBalloon to generate annual revenue of between $8 million and $9 million, and it transferred its production to the South Jordan facility and added a production line to support demand. View Point Medical, which the company used $90 million in cash to acquire, added OneMark to the oncology offering and expanded the targeted procedural market.
Risks include volatility in the OEM business, which grew 15% in fiscal Q2 2026 but for which management expects lower annual growth in the mid-to-high single digits. WRAPSODY also faces competition and pricing pressure at independent sites of service, while the company expects a tariff impact of approximately $16 million during fiscal 2026. Renal therapy sales declined 2% because of a product recall; although the product returned to the market before the end of Q2, management acknowledged that regaining accounts that switched to other suppliers will take time.
