Canada Pension Plan Investment Board Buys Shares of 5,600 Merit Medical Systems, Inc. $MMSI

Canada Pension Plan Investment Board purchased a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the second quarter, Holdings Channel reports. The fund purchased 5,600 shares of the medical instruments supplier’s stock, valued at approximately $388,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MMSI. Legal & General Group Plc bought a new position in Merit Medical Systems in the 2nd quarter valued at approximately $9,472,000. The Manufacturers Life Insurance Company acquired a new position in Merit Medical Systems in the 2nd quarter valued at approximately $33,591,000. Van Hulzen Asset Management LLC bought a new position in shares of Merit Medical Systems during the second quarter valued at $2,002,000. Whalen Wealth Management Inc. bought a new position in shares of Merit Medical Systems during the second quarter valued at $571,000. Finally, Algert Global LLC lifted its holdings in shares of Merit Medical Systems by 119.7% during the second quarter. Algert Global LLC now owns 42,710 shares of the medical instruments supplier’s stock worth $2,962,000 after purchasing an additional 23,270 shares during the period. Institutional investors and hedge funds own 99.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on MMSI shares. Needham & Company LLC lifted their target price on Merit Medical Systems from $90.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Barrington Research set a $114.00 price target on Merit Medical Systems in a research note on Friday, July 31st. Zacks Research upgraded Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 25th. Robert W. Baird set a $98.00 price objective on Merit Medical Systems in a research note on Friday, July 31st. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $100.00 target price on shares of Merit Medical Systems in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $100.00.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $90.13 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.20 and a quick ratio of 2.79. The stock has a 50-day moving average of $81.14 and a 200-day moving average of $73.06. The company has a market cap of $5.38 billion, a PE ratio of 37.24, a P/E/G ratio of 2.26 and a beta of 0.49. Merit Medical Systems, Inc. has a one year low of $59.74 and a one year high of $94.75.

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

Merit Medical Systems 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.