Needham took its Merit Medical Systems [MMSI] rating to the equivalent of Buy from Hold, and the price target to 65.0, in a research note dated 2021-01-05. That figure represents around a 18.7% premium from where the company’s shares closed on Monday. Other analysts also revised their coverage, with Barrington Research’s analysts downgrading the shares from “an Outperform” rating to ”a Mkt perform” rating in a research note to investors issued in late February. Meanwhile, Raymond James had raised its rating on MMSI to “an Outperform” from the earlier “Mkt perform”, in a research note produced for clients February 03, 2020. In addition, there was a downgrade from Wells Fargo on December 12, 2019. The rater changed MMSI from “a Market perform” to “an Underperform”.
Is Merit Medical Systems Inc. [NASDAQ:MMSI] a Good Buy Right Now?
It should be noted that MMSI technical indicators for short, intermediate as well as long term progress have placed an overall average of 80% as Buy. The average signal changed from 80% Buy in the last week and compares with 100% Buy in the past month. Data from Merit Medical Systems Inc.’s Trend Spotter indicated that the signals were Bearish. The stock current average is 0.4 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.39 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.4 million shares.
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MMSI Price Performance
On Wall Street, Merit Medical Systems Inc. [NASDAQ:MMSI] finished Monday’s session down -1.35% at $54.76. The stock went up to $55.61 at the same session while its lowest single day price was $53.74. In the last five days, it saw a rise of about 0.42%, Merit Medical Systems Inc. shares dropped by almost -1.35% since the beginning of the year. However, the share price has dropped to as low as -6.71% below its one year high. On 01/04/21, the company shares recorded $55.61, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $53.74. The company’s shares have inclined by 68.60% in the past year. The 50-day SMA achieved is $53.19 while the 200-day SMA is $45.19. Volume gained to 0.41 million from 0.16 million in the previous session.
MMSI Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 53.80 level, and in case of violation of this particular level, it will cause more drop to 52.83 level. On the upper level, 56.57 is still the key resistance. The stock may increase to the subsequent resistance at 55.67. The Relative Strength Index (RSI) pinned on the 14-day chart is 52.51, implying a neutral technical stance while the MACD stands at 0.64, meaning price will decrease in the next trading period. Percent R indicator moved to 48.27%, implying low price movement. Stochastic %K at 63.28% suggest selling the stock.
What is the short interest in Merit Medical Systems Inc.?
Short interest in the Merit Medical Systems Inc. stock has surged, increasing by 0.47 million shares to total 3.28 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 3.75 million, data from Yahoo Finance shows. The decrease of -14.33% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 8.23% of the overall float for the stock.
Merit Medical Systems Inc.’s Biggest Shareholders: Who Owns Merit Medical Systems Inc. [MMSI]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 6,969,573 shares or roughly 12.55% of the outstanding MMSI shares. This means their shares have reduced by -807,260 from the 6,969,573 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $289,453,262. Details in the latest 13F filings reveal that ArrowMark Colorado Holdings LLC disposed off their -6.11% stake valued at $241,061,766 while Starboard Value LP cut theirs at $222,157,061. During the last quarter, ArrowMark Colorado Holdings LLC liquidated -284,736 of its shares in Merit Medical Systems Inc. while Starboard Value LP sold -430,654 shares. The Nuance Investments LLC’s holdings currently number 2,877,195 shares at $157555198.2. According to the firm’s last 13F report, SSgA Funds Management, Inc. shares in the company at filing stood at 2,081,959 shares, roughly $114,653,482.
MMSI Earnings Forecast For The Current Quarter
Merit Medical Systems Inc. [MMSI] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $250.45M and an earnings per share of $0.43 for Dec 2020. Looking further ahead, the company is expected to report revenue of $245.98M at an EPS of $0.41 for Mar 2021. The estimates represent downside of 8.10% and 18.37% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
MMSI Earnings Estimates For The Current Year
For the financial year, Merit Medical Systems Inc. [NASDAQ:MMSI] is expected to bring in revenue of $956.34M. The returns are nearly $-38.51 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 1.56, higher than that of FY19 by $0.1. Estimates put this year’s earnings growth at 6.80%, 17.90% for the next, and at an annual 11.50% over the next 5-year period. As for sales, forecasts are for a decrease of -3.90% in the current fiscal year and a further 8.10% over the following year.