Legal & General Group Plc raised its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 13.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,750 shares of the medical instruments supplier’s stock after purchasing an additional 11,724 shares during the period. Legal & General Group Plc owned 0.20% of Merit Medical Systems worth $3,725,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new position in Merit Medical Systems during the 1st quarter valued at about $102,000. LS Investment Advisors LLC lifted its stake in shares of Merit Medical Systems by 8.1% in the 2nd quarter. LS Investment Advisors LLC now owns 3,694 shares of the medical instruments supplier’s stock worth $141,000 after acquiring an additional 277 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Merit Medical Systems by 28.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,723 shares of the medical instruments supplier’s stock worth $142,000 after acquiring an additional 820 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Merit Medical Systems in the 1st quarter worth approximately $134,000. Finally, BTC Capital Management Inc. acquired a new stake in shares of Merit Medical Systems in the 2nd quarter worth approximately $238,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

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In other news, Director F. Ann Millner sold 6,744 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $38.15, for a total value of $257,283.60. Following the transaction, the director now owns 4,247 shares of the company’s stock, valued at approximately $162,023.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard W. Edelman sold 29,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $41.19, for a total transaction of $1,194,510.00. Following the completion of the transaction, the insider now directly owns 35,000 shares in the company, valued at approximately $1,441,650. The disclosure for this sale can be found here. Insiders sold a total of 100,180 shares of company stock valued at $4,013,897 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

MMSI has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Thursday, June 22nd. SunTrust Banks, Inc. initiated coverage on shares of Merit Medical Systems in a research note on Tuesday, June 20th. They issued a “buy” rating and a $43.00 price target for the company. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $45.00 price target on shares of Merit Medical Systems in a research note on Friday, July 28th. Craig Hallum reaffirmed a “buy” rating and issued a $50.00 price target (up from $42.00) on shares of Merit Medical Systems in a research note on Thursday, July 27th. Finally, Bank of America Corporation initiated coverage on shares of Merit Medical Systems in a research note on Thursday, July 20th. They issued a “buy” rating and a $44.00 price target for the company. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $41.25.

Shares of Merit Medical Systems, Inc. (NASDAQ MMSI) opened at 42.15 on Friday. The stock has a 50 day moving average of $41.09 and a 200-day moving average of $35.28. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 60.04 and a beta of 1.25. Merit Medical Systems, Inc. has a 52 week low of $20.70 and a 52 week high of $42.60.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The firm had revenue of $186.50 million during the quarter, compared to analysts’ expectations of $181.46 million. Merit Medical Systems had a net margin of 4.87% and a return on equity of 9.78%. The company’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 EPS. Analysts expect that Merit Medical Systems, Inc. will post $1.26 earnings per share for the current year.

Merit Medical Systems Profile

Merit Medical Systems, Inc is a manufacturer and marketer of disposable medical devices used in a range of interventional, diagnostic and therapeutic medical procedures. The Company operates in two segments: cardiovascular and endoscopy. The cardiovascular segment consists of cardiology and radiology devices, which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases, and includes embolotherapeutic, cardiac rhythm management (CRM), electrophysiology (EP), and interventional oncology and spine devices.

Institutional Ownership by Quarter for Merit Medical Systems (NASDAQ:MMSI)

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