Legal & General Group Plc Sells 2,702 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Legal & General Group Plc trimmed its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,349 shares of the medical instruments supplier's stock after selling 2,702 shares during the quarter. Legal & General Group Plc owned about 0.32% of Merit Medical Systems worth $18,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MMSI. Stifel Financial Corp boosted its stake in Merit Medical Systems by 20.7% during the third quarter. Stifel Financial Corp now owns 28,050 shares of the medical instruments supplier's stock valued at $2,772,000 after buying an additional 4,806 shares in the last quarter. MML Investors Services LLC boosted its position in shares of Merit Medical Systems by 8.5% during the 3rd quarter. MML Investors Services LLC now owns 17,690 shares of the medical instruments supplier's stock valued at $1,748,000 after purchasing an additional 1,390 shares in the last quarter. Barclays PLC grew its stake in shares of Merit Medical Systems by 305.4% in the 3rd quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier's stock worth $11,142,000 after purchasing an additional 84,923 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Merit Medical Systems by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,357,265 shares of the medical instruments supplier's stock worth $134,165,000 after purchasing an additional 17,490 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in Merit Medical Systems by 13.9% during the third quarter. TD Private Client Wealth LLC now owns 1,732 shares of the medical instruments supplier's stock valued at $171,000 after purchasing an additional 211 shares during the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MMSI shares. Raymond James lifted their target price on Merit Medical Systems from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Tuesday, December 31st. Piper Sandler restated an "overweight" rating and issued a $116.00 price target (up previously from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Barrington Research reiterated an "outperform" rating and set a $111.00 price objective on shares of Merit Medical Systems in a research report on Friday, April 11th. JPMorgan Chase & Co. started coverage on Merit Medical Systems in a report on Friday, March 28th. They issued an "overweight" rating and a $120.00 target price for the company. Finally, Wells Fargo & Company lowered their price target on Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Merit Medical Systems presently has an average rating of "Moderate Buy" and an average price target of $114.33.

Merit Medical Systems Stock Up 0.4 %

Shares of MMSI traded up $0.32 during midday trading on Friday, reaching $90.89. 627,778 shares of the stock were exchanged, compared to its average volume of 485,931. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 44.55, a P/E/G ratio of 2.34 and a beta of 0.85. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 12-month low of $70.70 and a 12-month high of $111.45. The firm has a 50 day simple moving average of $100.15 and a 200-day simple moving average of $100.62.

Insider Buying and Selling

In other news, Director Stephen C. Evans sold 5,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the transaction, the director now owns 4,657 shares of the company's stock, valued at approximately $490,428.67. This represents a 51.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian G. Lloyd sold 25,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $99.50, for a total value of $2,487,500.00. Following the transaction, the insider now owns 38,993 shares in the company, valued at approximately $3,879,803.50. This trade represents a 39.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,132 shares of company stock worth $11,139,521. Insiders own 3.70% of the company's stock.

About Merit Medical Systems

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.