MMSI
Merit Medical Systems, Inc.
MMSI has the edge over OSCR overall, supported by stronger valuation and lower modeled downside.
OSCR
Oscar Health, Inc.
OSCR offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
MMSI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
MMSI's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
OSCR Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Strong | |
| Strong |
OSCR's revenue, profitability, cash flow and balance sheet are all currently healthy.
MMSI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 19x | $86.69 | — |
| Current | 32x | $86.69 | — |
| Cheap | 42x | $112 | +29% |
| Fair | 49x | $132 | +52% |
| Expensive | 84x | $223 | +157% |
Historical ranges are pointers, not guarantees.
MMSI's PE is in its cheap range at 32x. If earnings grow as analysts expect, today's price would be 19x next year's earnings.
OSCR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $31.94 | — |
| Current | 13x | $31.94 | — |
| Cheap | 21x | $52.73 | +65% |
| Fair | 35x | $87.23 | +173% |
| Expensive | 130x | $322 | +907% |
Historical ranges are pointers, not guarantees.
OSCR has the edge over MMSI in the historical PE scenario, which offers more potential upside but is not a forecast.
MMSI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for MMSI, with profitability improving.
OSCR Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for OSCR, with profitability improving.
MMSI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.49 | +68% |
| Q3 2026 | $2.67 | +37% |
| Q2 2026 | $2.43 | +23% |
| Q1 2026 | $2.32 | +14% |
| Q4 2025 | $2.13 | +4.9% |
| Q3 2025 | $1.95 | -4.4% |
| Q2 2025 | $1.97 | -1.5% |
| Q1 2025 | $2.04 | +17% |
| Q4 2024 | $2.03 | +25% |
MMSI has the edge over OSCR on earnings, with more consistent year-over-year improvement.
OSCR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.61 | +5.6% |
| Q3 2026 | $2.47 | +$3.47 |
| Q2 2026 | $1.45 | +$2.14 |
| Q1 2026 | -$0.54 | -235% |
| Q4 2025 | -$1.69 | -1790% |
| Q3 2025 | -$1.00 | -$0.92 |
| Q2 2025 | -$0.69 | -$0.54 |
| Q1 2025 | $0.40 | +$0.82 |
| Q4 2024 | $0.10 | +$1.32 |
OSCR has returned to profit: it earned $2.47 per share over the past year, after losing money the year before.
MMSI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $416.2M | +8.4% |
| Q2 2026 | $418.8M | +9.5% |
| Q1 2026 | $381.9M | +7.5% |
| Q4 2025 | $393.9M | +11% |
| Q3 2025 | $384.2M | +13% |
| Q2 2025 | $382.5M | +13% |
| Q1 2025 | $355.4M | +9.8% |
| Q4 2024 | $355.2M | +9.4% |
MMSI's revenue has grown year over year every quarter since late 2020: $416M last quarter, up 8.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +3 points |
| Q2 2026 | 14% | +2.2 points |
| Q1 2026 | 12% | 0 points |
| Q4 2025 | 14% | +3.5 points |
| Q3 2025 | 11% | +0.1 points |
| Q2 2025 | 12% | -1.3 points |
| Q1 2025 | 12% | +0.5 points |
| Q4 2024 | 10% | -0.1 points |
MMSI has the edge over OSCR on profitability, with a higher operating margin.
OSCR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5.1B | +72% |
| Q2 2026 | $4.9B | +70% |
| Q1 2026 | $4.6B | +53% |
| Q4 2025 | $2.8B | +17% |
| Q3 2025 | $3B | +23% |
| Q2 2025 | $2.9B | +29% |
| Q1 2025 | $3B | +42% |
| Q4 2024 | $2.4B | +67% |
OSCR has the edge over MMSI on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3.5% | +7.8 points |
| Q2 2026 | 8% | +16 points |
| Q1 2026 | 15% | +5.4 points |
| Q4 2025 | -12% | -5.7 points |
| Q3 2025 | -4.3% | -2.3 points |
| Q2 2025 | -8.1% | -11 points |
| Q1 2025 | 9.8% | +1.1 points |
| Q4 2024 | -6.2% | +4 points |
OSCR's operating margin was 3.5% last quarter, up 7.8 points from the same quarter a year ago.
MMSI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $52.9M | +0.7% |
| Q2 2026 | $51.9M | -25% |
| Q1 2026 | $24.7M | +26% |
| Q4 2025 | $74M | +13% |
| Q3 2025 | $52.5M | +38% |
| Q2 2025 | $69.6M | +20% |
| Q1 2025 | $19.5M | -20% |
| Q4 2024 | $65.3M | +18% |
MMSI's free cash flow has been positive every quarter for seven years: $204M over the past year, down 1.6% from the year before.
OSCR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.2B | -$238.2M |
| Q2 2026 | $2.1B | +316% |
| Q1 2026 | $2.6B | +200% |
| Q4 2025 | $662.8M | +95% |
| Q3 2025 | -$973.7M | -$466M |
| Q2 2025 | $499.8M | +2.1% |
| Q1 2025 | $869.5M | +38% |
| Q4 2024 | $340M | +17% |
OSCR usually generates cash, though not every quarter: the latest was −$1.2B, but it generated $4.1B over the past year.
MMSI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +373K shares |
| 1 year | +0.8% | +460K shares |
| 3 years | +3.4% | +2M shares |
| 5 years | +4.9% | +2.8M shares |
| Available history | +7.4% | +4.1M shares |
MMSI has the edge over OSCR on shareholder dilution, with a more favorable share count trend.
OSCR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.9% | +13M shares |
| 1 year | +34% | +87.2M shares |
| 3 years | +55% | +123M shares |
| 5 years | +66% | +138M shares |
| Available history | +71% | +143M shares |
OSCR has 346M diluted shares, up 34% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
MMSI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.7x | Very low |
| Q2 2026 | 0.9x | Very low |
| Q1 2026 | 0.8x | Very low |
| Q4 2025 | 0.9x | Very low |
| Q3 2025 | 1.2x | Healthy |
| Q2 2025 | 1.4x | Healthy |
| Q1 2025 | 1.2x | Healthy |
| Q4 2024 | 1.4x | Healthy |
MMSI's net debt is less than a year of its operating earnings (EBITDA), down from 1.2 years a year ago.
OSCR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -4.2x | Net Cash |
| Q2 2026 | -5.5x | Net Cash |
| Q1 2026 | -110.0x | Net Cash |
| Q1 2025 | -9.7x | Net Cash |
| Q4 2024 | -13.7x | Net Cash |
| Q3 2024 | -10.1x | Net Cash |
| Q2 2024 | -24.0x | Net Cash |
| Q1 2024 | -217.7x | Net Cash |
OSCR has the edge over MMSI on leverage, with a lower net debt burden relative to earnings.
MMSI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.9 | Neutral |
| Stochastic | 40.0 | Neutral |
MMSI's weekly RSI is 56 (neutral) and its Stochastic is 40 (neutral).
OSCR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.7 | Neutral |
| Stochastic | 44.9 | Neutral |
OSCR's weekly RSI is 59 (neutral) and its Stochastic is 45 (neutral).
MMSI PE vs Healthcare Sector
| Metric | MMSI | Sector median | Relative |
|---|---|---|---|
| PE | 32x | 26x | 26% above |
| PE % | 6 | 29 | 23 pts below |
MMSI is trading at 32x earnings, a 26% premium to the Healthcare sector's median of 26x.
OSCR PE vs Healthcare Sector
| Metric | OSCR | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 26x | 50% below |
| PE % | 3 | 35 | 32 pts below |
OSCR has the edge over MMSI on valuation relative to its sector.
MMSI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $87.8 | 1.3% below |
| 20 week MA | $85.2 | 1.8% above |
| 50 week MA | $78.5 | 10% above |
| 100 week MA | $85.8 | 1.1% above |
| 200 week MA | $82.9 | 4.5% above |
MMSI's trend is up, with a small recent dip: it's below only its 8-week average, and 4.5% above its 200-week average.
OSCR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $31.2 | 2.3% above |
| 20 week MA | $31.1 | 2.8% above |
| 50 week MA | $22.9 | 39% above |
| 100 week MA | $19.3 | 65% above |
| 200 week MA | $15.5 | 106% above |
OSCR has the edge over MMSI on trend strength, trading above more of its moving averages.
MMSI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $31.3 | $54.5 | +74% |
| 2021 | $54.5 | $63.7 | +17% |
| 2022 | $63.7 | $70.9 | +11% |
| 2023 | $70.9 | $76.0 | +7.2% |
| 2024 | $76.0 | $97.3 | +28% |
| 2025 | $97.3 | $87.4 | -10% |
| 2026 YTD | $87.4 | $86.7 | -0.8% |
MMSI has finished higher in five of the last six years. It's down 0.8% so far in 2026.
OSCR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $31.0 | $8.02 | -74% |
| 2022 | $8.02 | $2.21 | -72% |
| 2023 | $2.21 | $9.15 | +314% |
| 2024 | $9.15 | $13.8 | +51% |
| 2025 | $13.8 | $14.9 | +8% |
| 2026 YTD | $14.9 | $31.9 | +114% |
OSCR has the edge over MMSI on returns for 2026, with the stronger performance.