NEW YORK, Jan 9, 2026, 14:49 EST — Regular session
- Shares down about 8% in Friday afternoon trade after Merit flagged preliminary Q4 revenue and named a new board chair
- Company projected Q4 revenue of about $389 million-$395 million, up 10%-11% year-on-year
- Investors now wait for Feb. 24 results and fiscal 2026 guidance
Merit Medical Systems, Inc. shares were down about 8.1% at $85.66 on Friday afternoon, after the Nasdaq-listed medical device maker released preliminary fourth-quarter revenue and confirmed a change at the top of its board. The stock hit a session low of $84.75.
Merit said late Thursday its board appointed longtime director F. Ann Millner as chair, effective Jan. 5, after founder Fred P. Lampropoulos resigned as a director and chair on Jan. 4. The company also projected preliminary unaudited fourth-quarter revenue of about $389 million to $395 million and said it would report full results and issue fiscal 2026 guidance after the close on Feb. 24. Merit added that constant-currency revenue — a non-GAAP measure that strips out exchange-rate swings — rose about 8% to 10%, with foreign exchange reducing reported revenue by about $4.4 million.
The revenue range was only modestly above the $388.27 million consensus tracked by TheFly, leaving investors to wait for the deeper numbers — profit margins, cash flow and the 2026 outlook. 1
Lampropoulos will provide consulting services through March 31, the company said. “I am proud of how far we’ve come,” he said, while Millner called his leadership “instrumental in building Merit into the global healthcare company it is today.” Merit said Lampropoulos’ resignation was not tied to any dispute or disagreement with management or the board. 2
Needham analyst Michael Matson reiterated a Buy rating and kept a $108 price target, citing the preliminary revenue as above-consensus and pointing to the Feb. 24 report as the next key check on the company’s 2026 setup. 3
The move looked stock-specific. The S&P 500 and Nasdaq were higher on the day, while the Health Care Select Sector SPDR Fund was little changed; Medtronic and Boston Scientific were each down about 1%, and Teleflex was up about 2%.
But the figures are preliminary and unaudited, and Merit has warned its estimate could change when it completes its closing process. A separate SEC filing showed COO Neil W. Peterson sold 5,000 shares at $90 under a Rule 10b5-1 plan — a preset trading plan — after exercising options for the same number of shares.
Next up is Feb. 24, when Merit is due to publish full fourth-quarter and full-year results and lay out fiscal 2026 guidance, with a conference call set for 4:30 p.m. ET.
