iRhythm (IRTC) vs Merit Medical Systems (MMSI)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Merit Medical Systems (MMSI) has outperformed iRhythm (IRTC) over the past year, gaining 1.8% versus a loss of 42.7%. Over five years, IRTC leads with a +41.9% price change compared with +22.5% for MMSI. Merit Medical Systems is the larger company by market cap ($5.21 billion vs $3.47 billion), about 1.5 times the size, while iRhythm is growing revenue faster (+26.2% vs +11.8%).
On valuation, Merit Medical Systems trades at a lower forward P/E (18.9x vs 82.1x for iRhythm). Merit Medical Systems converts more of its revenue into profit, with a net margin of 8.5% versus -6.0%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | IRTC | MMSI |
|---|---|---|
| Share price | $105.23 | $87.32 |
| Market cap | $3.47B | $5.21B |
| 1-day change | +2.56% | +2.43% |
| YTD return | -42.18% | -3.28% |
| 1-year return | -42.68% | +1.80% |
| 5-year return | +41.93% | +22.50% |
| P/E ratio (TTM) | — | 35.93 |
| Forward P/E | 82.11 | 18.94 |
| EPS (TTM) | $-0.42 | $2.43 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $747.14M | $1.52B |
| Revenue growth (YoY) | +26.24% | +11.75% |
| Net income (latest FY) | $-44.55M | $128.49M |
| Gross margin | 70.57% | 48.70% |
| Operating margin | -7.68% | 12.19% |
| Net margin | -5.96% | 8.48% |
| 52-week high | $212.00 | $94.75 |
| 52-week low | $100.70 | $59.74 |
| Distance from 52-week high | -50.36% | -7.84% |
| Analyst consensus | strong_buy | buy |
| Avg. price target upside | +65.29% | +16.18% |
| Average volume | 567.98K | 796.95K |
| Shares outstanding | 32.96M | 59.71M |
| Employees | 2,400 | 7,500 |
| Sector | Health Care | Health Care |
| Industry | Medical/Dental Instruments | Medical/Dental Instruments |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- MMSI has outperformed IRTC by 44.5 percentage points over the past year.
- Merit Medical Systems is more profitable, keeping 8.5 cents of every revenue dollar as net income versus -6.0 cents for iRhythm.
- iRhythm grew revenue faster in its latest fiscal year (+26.24% vs +11.75%).
About iRhythm
IRTC stock →iRhythm Holdings, Inc., a digital healthcare company, engages in the design, development, and commercialization of device-based technology that provides ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. The company offers Zio ambulatory cardiac monitoring services, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.
Health Care · Medical/Dental Instruments · 2,400 employees
About Merit Medical Systems
MMSI stock →Merit Medical Systems, Inc. designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States, China, Japan, Germany, France, the United Kingdom, and internationally.
Health Care · Medical/Dental Instruments · 7,500 employees
IRTC vs MMSI FAQ
Which is bigger, iRhythm or Merit Medical Systems?
Merit Medical Systems (MMSI) is larger, with a market capitalization of $5.21B compared with $3.47B for iRhythm (IRTC).
Which stock has performed better over the past year, IRTC or MMSI?
MMSI returned +1.80% over the past 12 months, compared with -42.68% for IRTC (price return, excluding dividends). Past performance does not predict future results.
Are iRhythm and Merit Medical Systems in the same industry?
Yes. Both are classified in the Medical/Dental Instruments industry within the Health Care sector.