SOUTH JORDAN, Utah - Merit Medical Systems, Inc. (NASDAQ:MMSI) announced today that shareholders elected Scott R. Ward to the company’s Board of Directors at its annual meeting of shareholders. Ward will serve a three-year term.
Ward brings over 40 years of healthcare and medical device industry experience. He spent nearly three decades at Medtronic, where he held senior leadership positions including senior vice president and president of the cardiovascular, neurological, and diabetes businesses. Most recently, Ward served as CEO, President and Chairman of Cardiovascular Systems, Inc., leading the company through its acquisition by Abbott.
Ward is the founder of Raymond Holdings, a firm focused on venture capital, strategy, and advisory services for medical technology and life sciences companies. He has served on numerous public and private company boards.
Merit Medical’s Board of Directors appointed Ward to serve on its Governance and Sustainability and Finance and Operating Committees.Ward joins at a time when Merit Medical trades near its 52-week low at $63.64, though InvestingPro analysis suggests the stock is undervalued. The company maintains strong financial health with a perfect Piotroski Score of 9 and a current ratio of 5.08, indicating solid liquidity.
"I am honored to join the Merit Board of Directors," Ward said. "I have great respect for Merit’s commitment to innovation and its focus on serving patients and healthcare providers around the world."
Merit Medical, founded in 1987, develops, manufactures, and distributes medical devices used in interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company employs approximately 7,600 people worldwide and serves customers through a sales force and clinical support team of more than 800 individuals. For deeper insights into Merit Medical’s financial health and growth prospects, InvestingPro offers access to additional ProTips and comprehensive analysis.
The information is based on a press release statement from Merit Medical Systems.
In other recent news, Merit Medical Systems reported strong financial results for the first quarter of 2026, exceeding analysts’ expectations. The company achieved earnings per share (EPS) of $0.86, surpassing the forecasted $0.83, and revenue of $381.9 million, which was higher than the expected $377.81 million. Analysts from BofA Securities also noted that Merit Medical’s first-quarter revenue of $382 million beat consensus estimates by approximately $4 million, with organic growth of about 3%. The company’s operating margin stood at 19.7%, exceeding Street expectations by 180 basis points.
In response to these results, Needham maintained a Buy rating on Merit Medical but adjusted its price target to $90 from $101, citing valuation concerns. Meanwhile, BofA Securities revised its price target to $80 from $100, maintaining a Neutral rating due to deal dilution considerations. Piper Sandler reiterated an Overweight rating and a price target of $96, following discussions with Merit Medical’s CEO and CFO about strategic initiatives and recent acquisitions. These developments reflect a mixed outlook from analysts, balancing strong quarterly performance with valuation and strategic considerations.
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