What is the 13F Pro Quality Score for MMSI?

13F Pro ranks MERIT MEDICAL SYSTEMS INC (MMSI) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View MMSI's current score at https://13fpro.ai/company/MMSI (free sign-up required for the full ranking).

Where does 13F Pro source MMSI data?

All MERIT MEDICAL SYSTEMS INC fundamentals and ownership data come directly from SEC EDGAR. MERIT MEDICAL SYSTEMS INC files with the SEC under CIK 856982. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is MMSI in?

MERIT MEDICAL SYSTEMS INC (MMSI) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

What drives MMSI's revenue?

Per MERIT MEDICAL SYSTEMS INC's latest 10-Q filed with the SEC on 2026-07-30, the biggest revenue drivers are: Foundational ($281.0M, +7.1% YoY); Therapeutic ($137.9M, +14.8% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/MMSI.

What are MMSI's largest expenses?

MERIT MEDICAL SYSTEMS INC's latest 10-Q reports these as the largest expense items: Cost of sales ($203.7M, +2.9% YoY); Selling, general and administrative ($129.2M, +14.3% YoY); Research and development ($25.4M, +4.2% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 2026).

How often is MMSI research updated on 13F Pro?

MMSI's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

MERIT MEDICAL SYSTEMS INC(MMSI)Stock Analysis

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13F Pro Quality Score

64.0/100

Rank #583 of 2,961 stocksTOP 25%

View Healthcare peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

60.5/100

Profitability

64.0/100

Balance Sheet

71.3/100

Earnings Quality

82.9/100

Free Cash Flow

61.4/100

Institutional Flow

75.6/100

Revenue Scale

59.0/100

Dilution Risk

33.7/100

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Why MMSI Scores 64/100

exact factor attribution · 2026-09-11

MMSI's composite is driven by earnings quality and capital efficiency. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Earnings quality

+3.3 pts

83th pct

Capital efficiency

+2.1 pts

71th pct

Revenue growth

+2.1 pts

61th pct

Profitability

+2.1 pts

64th pct

Free cash flow

+1.7 pts

61th pct

Scale

+1.4 pts

59th pct

Institutional flow

+1.3 pts

76th pct

Earnings growth

+0.9 pts

68th pct

Shareholder dilution

-0.8 pts

34th pct

Latest change (2026-08-02): 60 → 59 · ↓ Revenue growth 64→52; ↓ Earnings growth 66→50

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

MMSI Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for MERIT MEDICAL SYSTEMS INC (MMSI), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores MMSI at 64.0/100 on a 32-signal composite quality model, placing it at rank #583 of 2,961 stocks — the top 25% of the AI-ranked universe. MMSI scores in the top quartile across earnings quality (82.9), institutional flow (75.6). Shareholder dilution risk is elevated at 33.7/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), MERIT MEDICAL SYSTEMS INC reports quarterly revenue of $418.8M, net income of $38.8M, an operating margin of 14.4%. Top institutional holders of MMSI by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. MMSI trades on the Nasdaq exchange and files with the SEC under CIK 856982. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate MMSI daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for MERIT MEDICAL SYSTEMS INC directly from SEC EDGAR. MERIT MEDICAL SYSTEMS INC's 13F Pro composite quality score has ranged between 43 and 68 since 2021, currently 64.0 — an improving long-term trajectory across 68 quarterly and live scoring snapshots.

What's Driving MMSI's Business? Latest 10-Q Breakdown

AI-extracted from MERIT MEDICAL SYSTEMS INC's 10-Q filed 2026-07-30 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Merit Medical reported Q2 revenue of $418.8M (+9.5% YoY) with net income of $38.8M (+19% YoY), driven by strong growth in therapeutic products and improved gross margins.

Biggest Revenue Drivers

Foundational$281.0M+7.1% YoY

Access platform increased 6.4% from hemostasis products and angiography; Vascular Intervention up 19.2%; offset by Procedural Solutions decline from DualCap divestiture.

Therapeutic$137.9M+14.8% YoY

Cardiac Therapies up 24.3% from lead management and pacing products; Endoscopy up 28.5% from C2 Cryoballoon acquisition and EsophyX device.

Biggest Revenue Drivers

Total revenue: $418.8M+9.5% YoY

Foundational$281.0M+7.1% YoY

Access platform increased 6.4% from hemostasis products and angiography; Vascular Intervention up 19.2%; offset by Procedural Solutions decline from DualCap divestiture.

Therapeutic$137.9M+14.8% YoY

Cardiac Therapies up 24.3% from lead management and pacing products; Endoscopy up 28.5% from C2 Cryoballoon acquisition and EsophyX device.

Largest Expense Items

Cost of sales$203.7M+2.9% YoY

Partially offset by $6.9M in IEEPA tariff refunds and favorable product mix.

Selling, general and administrative$129.2M+14.3% YoY

Increased by commissions on sales growth, headcount additions, stock-based compensation, and $5.6M View Point acquisition-related costs.

Research and development$25.4M+4.2% YoY

Increase primarily due to merit-based salary increases effective in Q2 2026.

Margins: Gross profit margin expanded to 51.4% from 48.2% YoY, driven by sales growth, favorable product mix, and approximately $6.9M in IEEPA tariff refunds. Operating margin improved to 14.4% from 12.3% YoY despite higher SG&A expenses.

Watch Items from the Filing

Convertible Notes due 2029 totaling $747.5M at 3.00% interest; Merit paid $5.1M additional interest in Q2 2026 for failure to timely remove restrictive legends; notes restrict operational flexibility and incur $12.1M quarterly interest expense.
Three recent acquisitions (View Point $137M net in April 2026, C2 Cryoballoon $21.9M in November 2025, Biolife $127M in May 2025) create integration risk; View Point had no sales in Q2 2026 pending commercialization.
Domestic revenue grew 11.0% to $252.1M (60.2% of sales); international revenue grew 7.3% to $166.8M; geopolitical risks including U.S.-Israel-Iran conflict could disrupt supply chains and increase commodity costs.
Company divested DualCap product line in February 2026 for $28M with $12.5M pre-tax gain; obligated to perform contract manufacturing and transition services for up to 24 months post-close.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$418.8M

Net Income

Q2 2026

$38.8M

Free Cash Flow

Q2 2026

$51.9M

Operating Margin

Q2 2026

14.4%

ROIC

Q2 2026

10.0%

D/E Ratio

Q2 2026

0.44

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+11.8% YoY

$1.52BFY 2025

FY22 $1.15BFY23 $1.26BFY24 $1.36BFY25 $1.52B

Net Income

+6.8% YoY

$128.5MFY 2025

FY22 $74.5MFY23 $94.4MFY24 $120.4MFY25 $128.5M

Operating Income

+18.6% YoY

$184.7MFY 2025

FY22 $87.6MFY23 $123.9MFY24 $155.7MFY25 $184.7M

EPS (Diluted)

+4.9% YoY

$2.13FY 2025

FY22 $1.29FY23 $1.62FY24 $2.03FY25 $2.13

Total Assets

+11.1% YoY

$2.69BFY 2025

FY22 $1.66BFY23 $2.33BFY24 $2.42BFY25 $2.69B

Total Debt

+0.6% YoY

$734.0MFY 2025

FY22 $209.3MFY23 $823.0MFY24 $729.6MFY25 $734.0M

Op. Cash Flow

+34.7% YoY

$297.4MFY 2025

FY22 $114.3MFY23 $145.2MFY24 $220.8MFY25 $297.4M

Free Cash Flow

+16.2% YoY

$215.7MFY 2025

FY22 $69.3MFY23 $110.9MFY24 $185.7MFY25 $215.7M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$1.52B +11.8%	$1.36B +7.9%	$1.26B +9.2%	$1.15B +7.1%	$1.07B +11.5%	$963.9M
Net Income	$128.5M +6.8%	$120.4M +27.5%	$94.4M +26.7%	$74.5M +53.8%	$48.5M +592.3%	$-9.8M
Operating Income	$184.7M +18.6%	$155.7M +25.6%	$123.9M +41.5%	$87.6M +43.7%	$60.9M +3999.9%	$-1.6M
EPS (Diluted)	$2.13 +4.9%	$2.03 +25.3%	$1.62 +25.6%	$1.29 +53.6%	$0.84 +566.7%	$-0.18
Total Assets	$2.69B +11.1%	$2.42B +4.0%	$2.33B +39.7%	$1.66B +1.0%	$1.65B -1.0%	$1.66B
Total Debt	$734.0M +0.6%	$729.6M -11.4%	$823.0M +293.3%	$209.3M -16.7%	$251.3M -30.0%	$358.7M
Operating Cash Flow	$297.4M +34.7%	$220.8M +52.1%	$145.2M +27.0%	$114.3M -22.4%	$147.2M -10.9%	$165.3M
Free Cash Flow	$215.7M +16.2%	$185.7M +67.5%	$110.9M +60.1%	$69.3M -41.9%	$119.3M +0.0%	$119.3M

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Available Research

13F Pro tracks comprehensive data for MERIT MEDICAL SYSTEMS INC including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of MMSI

BlackRock, Inc.
$656.3M9,464,542 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$240.9M3,473,833 sh
VANGUARD CAPITAL MANAGEMENT LLC
$179.6M2,590,454 sh
STATE STREET CORP
$171.6M2,474,512 sh
Conestoga Capital Advisors, LLC
$137.3M1,979,790 sh
GEODE CAPITAL MANAGEMENT, LLC
$112.8M1,625,950 sh
FULLER & THALER ASSET MANAGEMENT, INC.
$111.8M1,613,002 sh
DIMENSIONAL FUND ADVISORS LP
$101.2M1,458,823 sh
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.
$88.7M1,279,152 sh
CONGRESS ASSET MANAGEMENT CO /MA
$82.1M1,184,337 sh

Fund	Value	Shares
BlackRock, Inc.	$656.3M	9,464,542
VANGUARD PORTFOLIO MANAGEMENT LLC	$240.9M	3,473,833
VANGUARD CAPITAL MANAGEMENT LLC	$179.6M	2,590,454
STATE STREET CORP	$171.6M	2,474,512
Conestoga Capital Advisors, LLC	$137.3M	1,979,790
GEODE CAPITAL MANAGEMENT, LLC	$112.8M	1,625,950
FULLER & THALER ASSET MANAGEMENT, INC.	$111.8M	1,613,002
DIMENSIONAL FUND ADVISORS LP	$101.2M	1,458,823
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	$88.7M	1,279,152
CONGRESS ASSET MANAGEMENT CO /MA	$82.1M	1,184,337

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Is MMSI a good stock to buy?

13F Pro's AI-powered analysis of MERIT MEDICAL SYSTEMS INC (MMSI) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for MMSI are available on the MMSI stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. MMSI is classified as a mid company.

Which hedge funds own MMSI?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling MMSI. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of MERIT MEDICAL SYSTEMS INC's investment landscape.