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

Key Points

• Legal & General Group Plc acquired 136,606 shares of Merit Medical Systems in the second quarter, valued at approximately $9.47 million and representing about 0.23% of the company. Institutional investors collectively own 99.66% of MMSI’s outstanding shares.
• Analyst sentiment is positive, with a consensus “Moderate Buy” rating and an average price target of $100. Piper Sandler raised its target to $106, while Zacks upgraded the stock to “Strong Buy.”
• Merit Medical reported quarterly EPS of $1.19, exceeding estimates of $0.96, while revenue rose 9.5% year over year to $418.84 million. Shares opened at $90.68, near the company’s 12-month high of $94.75.

Legal & General Group Plc acquired a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 136,606 shares of the medical instruments supplier's stock, valued at approximately $9,472,000. Legal & General Group Plc owned about 0.23% of Merit Medical Systems as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MMSI shares. Bank of America upped their price objective on Merit Medical Systems from $92.00 to $97.00 and gave the company a "neutral" rating in a research report on Thursday, August 13th. Weiss Ratings raised Merit Medical Systems from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 18th. Robert W. Baird set a $98.00 price target on Merit Medical Systems in a report 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. Finally, Piper Sandler lifted their price objective on shares of Merit Medical Systems from $96.00 to $106.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $100.00.

Merit Medical Systems Trading Up 0.0%

MMSI stock opened at $90.68 on Wednesday. Merit Medical Systems, Inc. has a 12 month low of $59.74 and a 12 month high of $94.75. The firm's 50-day moving average is $80.72 and its 200 day moving average is $72.98. The company has a market capitalization of $5.41 billion, a PE ratio of 37.47, a P/E/G ratio of 2.26 and a beta of 0.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.20 and a quick ratio of 2.79.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.23. The company had revenue of $418.84 million during the quarter, compared to analysts' expectations of $405.25 million. Merit Medical Systems had a net margin of 9.22% and a return on equity of 13.75%. The firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. On average, research analysts anticipate that Merit Medical Systems, Inc. will post 3.84 EPS for the current 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.

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