What’s Merit Medical Systems, Inc. (MMSI) Upside After Forming Bullish Double Top?

December 7, 2017 - By Hazel Jackson

Investors sentiment is 1.49 in 2017 Q2. Its the same as in 2017Q1. It is flat, 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.
Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 1,337 shares or 0% of the stock. Citigroup invested in 0% or 46,852 shares. Eagle Boston Management owns 536,630 shares. Oppenheimer Asset Mngmt stated it has 8,232 shares or 0.01% of all its holdings. The United Kingdom-based Barclays Public Ltd Com has invested 0% in Merit Medical Systems, Inc. (NASDAQ:MMSI). Parkside Savings Bank And Trust holds 27 shares or 0% of its portfolio. Pinebridge Invs Ltd Partnership reported 6,577 shares. 8,851 are held by Victory Capital. Credit Suisse Ag holds 0% of its portfolio in Merit Medical Systems, Inc. (NASDAQ:MMSI) for 24,942 shares. Altrinsic Limited Liability Corporation invested 0.25% in Merit Medical Systems, Inc. (NASDAQ:MMSI). Strs Ohio reported 29,300 shares. Riverhead Cap Ltd Liability, Delaware-based fund reported 5,198 shares. Partner Fund Mngmt Lp holds 0.4% of its portfolio in Merit Medical Systems, Inc. (NASDAQ:MMSI) for 384,901 shares. Ameritas Invest Partners holds 0.01% of its portfolio in Merit Medical Systems, Inc. (NASDAQ:MMSI) for 4,272 shares. Motco holds 0% of its portfolio in Merit Medical Systems, Inc. (NASDAQ:MMSI) for 144 shares.

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 stock has “Buy” rating by Bank of America on Thursday, July 20. Craig Hallum maintained the stock with “Buy” rating in Thursday, July 27 report. The rating was upgraded by Barrington Research on Monday, October 26 to “Outperform”. The firm has “Buy” rating given on Thursday, October 26 by Canaccord Genuity. The rating was maintained by Canaccord Genuity with “Buy” on Monday, September 4. SunTrust maintained Merit Medical Systems, Inc. (NASDAQ:MMSI) rating on Thursday, November 16. SunTrust has “Buy” rating and $47.0 target. The stock of Merit Medical Systems, Inc. (NASDAQ:MMSI) has “Buy” rating given on Thursday, November 30 by Wells Fargo. The firm has “Mkt Perform” rating by Barrington Research given on Friday, October 23. The rating was downgraded by Raymond James to “Outperform” on Monday, August 28. Canaccord Genuity maintained it with “Buy” rating and $3700 target in Monday, July 10 report.

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

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