Needham raises Merit Medical stock price target on strong results

Merit Medical reported 6-month data from 237 AVF patients in 9 countries, showing 92.7% TLPP and 76.7% ACPP, compared to prior trial rates of 89.8% and 72.8%. The company aims to expand evidence with longer follow-up and additional registries.

Merit Medical Systems (MMSI) reported 6-month data from the WRAP Global registry, showing 92.7% target lesion primary patency and 76.7% access circuit primary patency for its WRAPSODY CIE device in arteriovenous fistula patients. Results exceeded those from prior trials, according to the company. The device is FDA-approved and commercially available in the U.S., EU, and other regions.

MMSI reported Q3 revenue of $416.2M, beating estimates by 1.5%, and raised full-year guidance to $1.64B. Adjusted EPS was $1.12, a 7.8% beat, with guidance increased to $4.35. Operating margin improved to 14.1% from 11.1%. Growth was driven by foundational and therapeutic segments, with strong demand in oncology and endoscopy. The company acquired Solo Pace to expand its Cardiac Therapies platform.

Merit Medical Systems (MMSI) acquired Solo Pace, Inc. for $45 million, adding its pacing systems to Merit's Cardiac Therapies. The deal expands Merit's structural heart portfolio. Shares fell 6.84% to $87.00.

Canaccord raised its price target on Merit Medical Systems (MMSI) to $121 from $94, maintaining a Buy rating. The company reported Q3 revenue of $416.2M, up 8% YoY, and EPS of $1.12, up 22% YoY, both beating estimates. MMSI raised its fiscal 2026 EPS guidance to $4.33-$4.37. The stock is up 37% over six months and near its 52-week high.

Merit Medical Systems (MMSI) reported Q3 2026 revenue of $416M, with 9% organic growth. Gross margin declined to 52.8% due to manufacturing and freight costs. China market challenges reduced the second-half outlook by $4M. Inventory increased by $60M due to strategic stockpiling. CEO Martha Aronson expressed confidence in growth but declined to comment on 2027. The company is targeting OneMark at new accounts and expects $600M in free cash flow.