A Reversal for Merit Medical Systems, Inc. (MMSI) Is Near. The Formed Bullish Double Top Pattern

December 7, 2017 - By Kurt Siggers

Investors sentiment is 1.49 in Q2 2017. Its the same as in 2017Q1. It is without 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.
Morgan Dempsey Management Limited Liability reported 44,974 shares. Martingale Asset Lp has 105,608 shares for 0.06% of their portfolio. Amp Capital Invsts holds 0% in Merit Medical Systems, Inc. (NASDAQ:MMSI) or 5,900 shares. Bancorporation Of America De has invested 0% of its portfolio in Merit Medical Systems, Inc. (NASDAQ:MMSI). Louisiana State Employees Retirement System reported 0.04% stake. Millennium Management Limited Liability Company owns 597,421 shares or 0.04% of their US portfolio. Victory Mgmt has 8,851 shares for 0% of their portfolio. Federated Invsts Pa stated it has 0% in Merit Medical Systems, Inc. (NASDAQ:MMSI). Bryn Mawr Trust Company holds 141,475 shares or 0.32% of its portfolio. Bbva Compass Financial Bank Incorporated holds 0.08% of its portfolio in Merit Medical Systems, Inc. (NASDAQ:MMSI) for 32,984 shares. 208 were reported by Sanctuary Wealth Advsrs Ltd Liability. The Missouri-based Century has invested 0.01% in Merit Medical Systems, Inc. (NASDAQ:MMSI). Tiaa Cref Investment Mgmt Ltd Liability Corp has invested 0% of its portfolio in Merit Medical Systems, Inc. (NASDAQ:MMSI). Globeflex Capital L P reported 22,242 shares. Ameritas Inv Prns owns 4,272 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 earnings per share, 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 earnings per share 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. Bank of America initiated the shares of MMSI in report on Thursday, July 20 with “Buy” rating. The rating was initiated by Canaccord Genuity with “Buy” on Tuesday, July 19. Canaccord Genuity maintained Merit Medical Systems, Inc. (NASDAQ:MMSI) on Thursday, October 26 with “Buy” rating. The firm earned “Mkt Perform” rating on Friday, October 23 by Barrington Research. The rating was maintained by SunTrust with “Buy” on Thursday, November 16. The company was maintained on Monday, July 10 by Canaccord Genuity. The firm has “Buy” rating given on Thursday, July 27 by Craig Hallum. The stock of Merit Medical Systems, Inc. (NASDAQ:MMSI) has “Outperform” rating given on Monday, October 26 by Barrington Research. Canaccord Genuity maintained the stock with “Buy” rating in Thursday, November 16 report. Canaccord Genuity maintained it with “Buy” rating and $4500 target in Thursday, July 27 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 Q2 2017 Results …” published on July 27, 2017, Globenewswire.com published: “Merit Medical Announces Appointment of New Director” on May 26, 2017. More interesting news about Merit Medical Systems, Inc. (NASDAQ:MMSI) were released by: Seekingalpha.com and their article: “Merit Medical Systems’ (MMSI) CEO Fred Lampropoulos on Q3 2017 Results …” published on October 26, 2017 as well as Seekingalpha.com‘s news article titled: “Merit Medical – Becton And Bard Deal Looks Nice” with publication date: November 17, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.