Is Merit Medical Systems, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Merit Medical Systems, Inc. has moved from fair to expensive, indicating that the stock is overvalued. The company exhibits a P/E ratio of 42, a Price to Book Value of 3.94, and an EV to EBITDA of 20.38, all of which suggest a premium valuation compared to its peers.
In comparison, Masimo Corp. has a significantly higher P/E ratio of 179.74, while Lantheus Holdings, Inc. presents a much lower P/E of 10.13, highlighting the disparity in valuations within the sector. The recent stock performance shows that Merit Medical has underperformed against the S&P 500 year-to-date, with a return of -15.36% compared to the S&P 500's 13.30%, reinforcing the notion that the stock may be overvalued at its current price.