Home Analyst Ratings Needham upgrades Merit Medical Systems Inc. to Buy and price target...

Needham upgrades Merit Medical Systems Inc. [MMSI] to Buy and price target to $65

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”.

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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.

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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.‎

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