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    Merit Medical Systems (MMSI) Beats On Earnings, Is It Still A Bargain?

    Simply Wall St·10/29/2026 15:51:47
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    Merit Medical Systems (MMSI) is back in focus after its latest quarterly update, where adjusted EPS of $1.19 and $418.8 million in revenue topped analyst expectations and continued its earnings outperformance.

    Recent trading reflects that shift in sentiment. The share price has eased 1.41% over the past day to US$92.21, yet logged a 5.99% 30 day share price return and a 10.63% 90 day gain. Total shareholder return over one year sits at 13.29%, suggesting momentum has been building rather than fading around Merit Medical Systems as earnings surprises and sector optimism stay in focus.

    Scan for other healthcare equipment stocks with similar momentum and recent earnings beats by checking the hand picked list of solid balance sheet and fundamentals (24 results), which might sit alongside Merit Medical Systems in your watchlist.

    Merit Medical Systems now trades around US$92, with analysts clustered near US$101 and one intrinsic estimate implying an even larger gap. So where does fair value really sit after this earnings pop?

    Most Popular Narrative: 9% Undervalued

    Against the last close of $92.21, the most followed narrative pegs Merit Medical Systems' fair value at about $101.45, implying roughly a 9% gap that rests heavily on margin execution and steady product platform growth rather than a single blockbuster asset.

    The main factor that needs to go right is continued execution on efficiency and margin programs such as CGI, as well as effective management of tariff headwinds, so that recent non-GAAP operating margin performance remains within or above the targeted range.

    The current valuation implies the share price may not fully reflect this track record of margin expansion, organic growth near the top of current guidance, disciplined tuck-in acquisitions, and a balance sheet that leaves room for further deals without high leverage.

    See why 1 investors see Merit Medical Systems as 9% undervalued.

    Result: Fair Value of $101.45 (UNDERVALUED)

    Still, the story around Merit Medical Systems can change quickly if WRAPSODY CIE underwhelms on reimbursement and if China or other international markets stay pressured longer than expected.

    Find out about the key risks to this Merit Medical Systems narrative.

    Next Steps

    If this mix of optimism and worry around Merit Medical Systems feels familiar, consider acting promptly and stress testing the thesis against the underlying data yourself. A good place to start is weighing the 3 key rewards and 1 important warning sign.

    Looking for more investment ideas beyond Merit Medical Systems?

    If Merit Medical Systems has sharpened your focus, do not stop here. Use targeted stock lists to pressure test your thesis and uncover fresh opportunities.