Merit Medical (MMSI) Rises 5.8% After Q3 Beat and Upgraded Guidance Has the Bull Case Shifted?

• In the past week, Merit Medical Systems reported third quarter 2025 financial results with revenue rising to US$384.16 million and adjusted earnings per share exceeding expectations, prompting management to revise full-year revenue guidance upward.
• A key insight is that robust performance in new product launches and ongoing investment in R&D allowed the company to surpass its revenue and profit targets, while slightly improving future outlook amid increased operating costs and reimbursement-related challenges.
• We'll now explore how the better-than-expected earnings and raised guidance may influence Merit Medical Systems' investment thesis and long-term outlook.

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Merit Medical Systems Investment Narrative Recap

To be a Merit Medical Systems shareholder, you need conviction in the company’s ability to leverage strong product development and international expansion to capture demand for minimally invasive procedures and grow revenue. The latest quarterly results, featuring a revenue beat and raised full-year guidance, support the near-term catalyst of robust new product uptake, while key risks tied to delayed WRAPSODY reimbursement and operating cost inflation remain, though these were not materially altered by this news update.

Among recent developments, the announcement regarding enrollment of the first patient in the WRAP North America registry is especially relevant. This registry is a critical step in building additional clinical evidence for WRAPSODY CIE, a central long-term growth catalyst impacted by ongoing reimbursement delays and shifting payer conditions.

In contrast to the upbeat quarterly performance, the ongoing WRAPSODY reimbursement delay is something investors should watch closely as it may mean...

Read the full narrative on Merit Medical Systems (it's free!)

Merit Medical Systems is projected to achieve $1.8 billion in revenue and $197.2 million in earnings by 2028. This outlook is based on a 7.0% annual revenue growth rate and a $78.1 million increase in earnings from the current earnings of $119.1 million.

Uncover how Merit Medical Systems' forecasts yield a $103.55 fair value, a 18% upside to its current price.

Exploring Other Perspectives

Two Simply Wall St Community members estimate Merit Medical’s fair value in the US$79.52 to US$103.55 range. Despite the company’s accelerated product launches and guidance upgrades, opinions vary widely on future performance, explore several alternative viewpoints to get a fuller picture.

Explore 2 other fair value estimates on Merit Medical Systems - why the stock might be worth as much as 18% more than the current price!

Build Your Own Merit Medical Systems Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Merit Medical Systems research is our analysis highlighting 1 key reward that could impact your investment decision.
• Our free Merit Medical Systems research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Merit Medical Systems' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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