Bullish Chart Formation for Merit Medical Systems, Inc. (MMSI) After Forming Double Top

December 7, 2017 - By Maria Brooks

Investors sentiment is 1.49 in 2017 Q2. Its the same as in 2017Q1. It has no change, as 19 investors sold Merit Medical Systems, Inc. shares while 52 reduced holdings. only 38 funds opened positions while 68 raised stakes. 44.02 million shares or 2.45% more from 42.97 million shares in 2017Q1 were reported.
Metropolitan Life has invested 0.01% in Merit Medical Systems, Inc. (NASDAQ:MMSI). Aperio Group Limited Liability Corporation holds 10,467 shares. Fiera invested in 0.05% or 261,038 shares. Guggenheim Capital Ltd Limited Liability Company has 0.01% invested in Merit Medical Systems, Inc. (NASDAQ:MMSI). Eagle Asset Mngmt reported 0.14% stake. State Teachers Retirement System stated it has 0.01% of its portfolio in Merit Medical Systems, Inc. (NASDAQ:MMSI). Millennium Limited Liability Company holds 597,421 shares or 0.04% of its portfolio. Voya Limited Liability Corporation owns 860,097 shares. D E Shaw & invested in 0% or 73,766 shares. 176,727 were accumulated by Tiaa Cref Invest Management Ltd Limited Liability Company. Btc Cap Mngmt invested in 0.04% or 6,199 shares. Moreover, Columbus Circle has 0.14% invested in Merit Medical Systems, Inc. (NASDAQ:MMSI) for 216,850 shares. Cubist Systematic Strategies Ltd Liability Corp stated it has 20,950 shares or 0.05% of all its holdings. Sanctuary Wealth Advsrs stated it has 208 shares or 0.01% of all its holdings. Profund Advsr Ltd Liability Corporation has 0.02% invested in Merit Medical Systems, Inc. (NASDAQ:MMSI).

The chart of Merit Medical Systems, Inc. (MMSI) shows a double top with $46.48 target or 6.00 % above today’s $43.85 share price. The 5 months chart pattern indicates low risk for the $2.20 billion company. It was reported on Dec, 7 by Finviz.com. If the $46.48 price target is reached, the company will be worth $132.06 million more. Double tops are rare but powerful chart patterns.

The stock increased 1.39% or $0.6 during the last trading session, reaching $43.85. About 297,970 shares traded. Merit Medical Systems, Inc. (NASDAQ:MMSI) has risen 81.84% since December 7, 2016 and is uptrending. It has outperformed by 65.14% the S&P500.

Analysts await Merit Medical Systems, Inc. (NASDAQ:MMSI) to report earnings on February, 20. They expect $0.32 EPS, up 3.23 % or $0.01 from last year’s $0.31 per share. MMSI’s profit will be $16.06 million for 34.26 P/E if the $0.32 EPS becomes a reality. After $0.32 actual EPS reported by Merit Medical Systems, Inc. for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

Merit Medical Systems, Inc. (NASDAQ:MMSI) Ratings Coverage

Among 8 analysts covering Merit Medical (NASDAQ:MMSI), 8 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Merit Medical had 17 analyst reports since October 23, 2015 according to SRatingsIntel. The firm has “Buy” rating by Canaccord Genuity given on Monday, July 10. The rating was maintained by Canaccord Genuity on Thursday, October 26 with “Buy”. The stock of Merit Medical Systems, Inc. (NASDAQ:MMSI) has “Outperform” rating given on Monday, August 28 by Raymond James. As per Thursday, November 16, the company rating was maintained by SunTrust. The stock of Merit Medical Systems, Inc. (NASDAQ:MMSI) earned “Buy” rating by Craig Hallum on Thursday, July 27. The firm has “Buy” rating by Canaccord Genuity given on Thursday, November 16. On Thursday, July 20 the stock rating was initiated by Bank of America with “Buy”. Barrington Research upgraded Merit Medical Systems, Inc. (NASDAQ:MMSI) on Monday, October 26 to “Outperform” rating. The rating was maintained by Canaccord Genuity on Sunday, October 8 with “Buy”. The firm earned “Mkt Perform” rating on Friday, October 23 by Barrington Research.

More notable recent Merit Medical Systems, Inc. (NASDAQ:MMSI) news were published by: Seekingalpha.com which released: “Merit Medical Systems’ (MMSI) CEO Fred Lampropoulos on Q3 2017 Results …” on October 26, 2017, also Globenewswire.com with their article: “Merit Medical Reports Results for Third Quarter 2017” published on October 25, 2017, Seekingalpha.com published: “Merit Medical Systems’ (MMSI) CEO Fred Lampropoulos on Q2 2017 Results …” on July 27, 2017. More interesting news about Merit Medical Systems, Inc. (NASDAQ:MMSI) were released by: Seekingalpha.com and their article: “Merit Medical – Becton And Bard Deal Looks Nice” published on November 17, 2017 as well as Globenewswire.com‘s news article titled: “Merit Medical Announces Appointment of New Director” with publication date: May 26, 2017.

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