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MMSI · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Merit Medical Systems Inc (MMSI) stock moving?
Merit's Q3 2026 results beat consensus: non-GAAP EPS of $1.12 vs $1.03 expected, and sales of $416.2M vs $410.4M, with 9% organic constant currency growth. Management raised FY2026 adjusted EPS guidance to $4.33-$4.37 from $4.25-$4.35 (vs $4.30 est) and narrowed sales guidance to $1.635B-$1.642B. The company also bought Solo Pace for about $45M and released positive WRAPSODY registry data on Nov 5. Analysts responded with higher targets: Canaccord $121, Barrington $116, JP Morgan and BTIG $110, Needham $106, and Wells Fargo $92 at Equal-Weight. Despite this, the stock fell 7.7% on Oct 30 from $93.39 to $86.24 on about 1.8M shares, roughly twice the recent average, and hit an intraday low of $84.00. It recovered to $90.63 on Nov 4 but has since drifted to $87.81 on Nov 10 with lighter volume (about 480K shares). The Oct 30 low zone around $84 to $84.30 is the nearest reference point. The price is still below every target in the list, but the recent drop shows the beat did not hold the shares.
News behind the analysis
- Merit Medical Announces Positive Clinical Data from WRAPSODY Global RegistryMerit released real-world data from the AVF cohort of its WRAPSODY Global registry, showing strong patency rates for its hemodialysis access device.
- Barrington Research Raises Price Target on Merit Medical Systems to $116Barrington raised its price target from $114 to $116 and kept its Outperform rating.
- Canaccord Genuity Maintains Buy on Merit Medical Systems, Raises Price Target to $121Canaccord kept its Buy rating and lifted its price target to $121.
- JP Morgan Maintains Overweight on Merit Medical Systems, Raises Price Target to $110JP Morgan kept its Overweight rating and raised its price target to $110.
- Wells Fargo Maintains Equal-Weight on Merit Medical Systems, Raises Price Target to $92Wells Fargo kept its Equal-Weight rating and raised its price target to $92, the lowest target among the updates.
- Needham Maintains Buy on Merit Medical Systems, Raises Price Target to $106Needham reaffirmed its Buy rating and raised its price target from $101 to $106.
- These Analysts Boost Their Forecasts On Merit Medical Systems After Strong Q3 ResultsMerit beat Q3 estimates and raised FY2026 EPS guidance, and analysts lifted price targets to $110 and $106.
- Merit Medical Reports Third Quarter 2026 Financial Results and Raises Full-Year GuidanceMerit reported Q3 2026 revenue of $416.2 million, up 8.4%, with 9% organic constant currency growth, and raised its full-year 2026 outlook.
- Merit Medical Acquires Solo Pace, Inc.Merit acquired Solo Pace, a maker of temporary pacing technology for heart valve procedures, for about $45M.
About Merit Medical Systems Inc
Merit Medical Systems, based in South Jordan, Utah, makes and sells single-use medical devices used in minimally invasive procedures, such as heart and vascular work, interventional radiology, oncology and endoscopy. It sells a very broad catalog of mostly lower-cost disposable products to hospitals and other device makers, and it has grown by adding small acquisitions, such as View Point Medical's OneMark breast-marker system in 2026.
How it makes money
It makes money by selling disposable devices like catheters, guidewires, sheaths, inflation devices, embolic agents, biopsy and drainage products, and dialysis-access products. Starting in 2026, it reports these in two groups. Foundational products, including vascular access, intervention and OEM parts made for other companies, bring in the larger share. Therapeutic products, including oncology, endoscopy and embolization, are smaller but growing faster. Guidance for 2026 points to about $1.64 billion in total revenue. Roughly 60% comes from the US and the rest from international markets.
What usually moves MMSI
- Hospital procedure volumes
- Organic growth and new product launches like WRAPSODY
- Margin progress versus company targets
- Acquisitions and divestitures
- Tariffs, currency and China exposure