Legal & General Group Plc Acquires New Shares in Merit Medical Systems, Inc. $MMSI

Legal & General Group Plc acquired a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 136,606 shares of the medical instruments supplier’s stock, valued at approximately $9,472,000.

A number of other institutional investors have also added to or reduced their stakes in MMSI. AQR Capital Management LLC lifted its position in shares of Merit Medical Systems by 7.3% in the 1st quarter. AQR Capital Management LLC now owns 16,361 shares of the medical instruments supplier’s stock worth $1,730,000 after purchasing an additional 1,114 shares during the period. Goldman Sachs Group Inc. raised its stake in Merit Medical Systems by 16.9% in the first quarter. Goldman Sachs Group Inc. now owns 719,313 shares of the medical instruments supplier’s stock worth $76,039,000 after buying an additional 103,878 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Merit Medical Systems by 745.9% during the second quarter. EverSource Wealth Advisors LLC now owns 922 shares of the medical instruments supplier’s stock worth $86,000 after buying an additional 813 shares during the period. First Trust Advisors LP boosted its position in Merit Medical Systems by 24.8% during the 2nd quarter. First Trust Advisors LP now owns 59,215 shares of the medical instruments supplier’s stock valued at $5,535,000 after acquiring an additional 11,770 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Merit Medical Systems by 9.1% in the 2nd quarter. Cerity Partners LLC now owns 3,019 shares of the medical instruments supplier’s stock valued at $282,000 after acquiring an additional 251 shares during the period. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Analysts Set New Price Targets

MMSI has been the subject of a number of analyst reports. Weiss Ratings upgraded Merit Medical Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. BTIG Research reiterated a “buy” rating and issued a $105.00 target price on shares of Merit Medical Systems in a report on Tuesday, August 11th. Raymond James Financial restated an “outperform” rating and issued a $100.00 price target on shares of Merit Medical Systems in a report on Friday, July 31st. Barrington Research set a $114.00 price objective on shares of Merit Medical Systems in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on shares of Merit Medical Systems from $77.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $90.68 on Wednesday. Merit Medical Systems, Inc. has a twelve month low of $59.74 and a twelve month high of $94.75. The company’s 50 day moving average is $80.72 and its 200 day moving average is $72.98. The company has a current ratio of 4.20, a quick ratio of 2.79 and a debt-to-equity ratio of 0.44. The company has a market cap of $5.41 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 2.26 and a beta of 0.49.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.23. Merit Medical Systems had a net margin of 9.22% and a return on equity of 13.75%. The company had revenue of $418.84 million during the quarter, compared to analyst estimates of $405.25 million. During the same period last year, the firm posted $1.01 EPS. Merit Medical Systems’s revenue for the quarter was up 9.5% compared to the same quarter last year. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. On average, sell-side analysts forecast that Merit Medical Systems, Inc. will post 3.84 EPS for the current year.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc is a global manufacturer and marketer of a broad range of medical devices used in diagnostic and interventional procedures. The company’s product portfolio encompasses vascular access, drainage, embolotherapy, and interventional oncology devices, as well as radiofrequency ablation systems and hemostasis solutions. These products serve physicians and hospitals in critical care settings and support minimally invasive treatment options across multiple specialties, including cardiology, radiology, oncology, neurology and endoscopy.

Founded in 1987 by Fred Lampropoulos, Merit Medical Systems has grown through both organic development and targeted acquisitions to expand its technology offerings and geographic reach.