Legal & General Group Plc Decreases Holdings in Merit Medical Systems, Inc. $MMSI

Key Points

• Legal & General Group Plc reduced its stake in Merit Medical Systems by 15.7% in the fourth quarter, though it still held 151,179 shares valued at about $13.3 million.
• Merit Medical Systems saw mixed insider activity: insider Brian G. Lloyd bought 2,000 shares while Director Lynne N. Ward sold 5,000 shares in transactions disclosed on May 7.
• Analysts remain broadly positive despite recent target cuts, with the stock carrying a “Moderate Buy” consensus and an average price target of $92.80. The company also reported quarterly earnings and revenue that beat expectations.

Legal & General Group Plc cut its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 15.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 151,179 shares of the medical instruments supplier's stock after selling 28,105 shares during the quarter. Legal & General Group Plc owned 0.25% of Merit Medical Systems worth $13,325,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Maseco LLP purchased a new position in shares of Merit Medical Systems during the fourth quarter worth approximately $26,000. Torren Management LLC purchased a new position in shares of Merit Medical Systems during the fourth quarter worth approximately $38,000. Covestor Ltd raised its stake in shares of Merit Medical Systems by 252.6% during the fourth quarter. Covestor Ltd now owns 469 shares of the medical instruments supplier's stock worth $41,000 after acquiring an additional 336 shares in the last quarter. Danske Bank A S purchased a new position in shares of Merit Medical Systems during the third quarter worth approximately $42,000. Finally, Quarry LP raised its stake in shares of Merit Medical Systems by 185.9% during the third quarter. Quarry LP now owns 526 shares of the medical instruments supplier's stock worth $44,000 after acquiring an additional 342 shares in the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Merit Medical Systems

In related news, insider Brian G. Lloyd purchased 2,000 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The shares were acquired at an average price of $62.62 per share, for a total transaction of $125,240.00. Following the completion of the acquisition, the insider directly owned 2,000 shares in the company, valued at approximately $125,240. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lynne N. Ward sold 5,000 shares of Merit Medical Systems stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $62.61, for a total transaction of $313,050.00. Following the completion of the sale, the director owned 7,809 shares in the company, valued at approximately $488,921.49. This trade represents a 39.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on MMSI. Weiss Ratings downgraded shares of Merit Medical Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 8th. JPMorgan Chase & Co. decreased their target price on shares of Merit Medical Systems from $95.00 to $77.00 and set an "overweight" rating on the stock in a research note on Friday, May 1st. Canaccord Genuity Group decreased their target price on shares of Merit Medical Systems from $90.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Piper Sandler decreased their target price on shares of Merit Medical Systems from $106.00 to $96.00 and set an "overweight" rating on the stock in a research note on Friday, April 17th. Finally, Needham & Company LLC decreased their target price on shares of Merit Medical Systems from $101.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $92.80.

Merit Medical Systems Stock Performance

NASDAQ:MMSI opened at $60.89 on Wednesday. The stock has a market cap of $3.63 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 1.93 and a beta of 0.54. The firm's fifty day simple moving average is $66.18 and its 200 day simple moving average is $76.68. Merit Medical Systems, Inc. has a twelve month low of $59.74 and a twelve month high of $96.74. The company has a quick ratio of 3.46, a current ratio of 5.08 and a debt-to-equity ratio of 0.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical instruments supplier reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.10. The business had revenue of $381.88 million for the quarter, compared to analysts' expectations of $377.59 million. Merit Medical Systems had a net margin of 9.03% and a return on equity of 13.54%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 earnings per share. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. As a group, research analysts predict that Merit Medical Systems, Inc. will post 3.62 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.

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