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”.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

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.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


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.

Get the ‎hottest stocks to trade every day before the market opens 100% free. Click here ‎now. 

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.‎

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

IT Tech Packaging Inc. (ITP) stock gains during pre-market. Here’s what’s happening?

IT Tech Packaging Inc. (NASDAQ: ITP) stock gained by 7.53% at last close while the ITP stock price rises by 2.04% in the pre-market...

Why did The9 Limited (NCTY) stock turnaround in the after-hours on Friday?

The9 Limited (NCTY) shares gained 6.87% in after-hours on Friday, July 30, 2021, and closed the weekly trading at $11.98 per share. in the...

Energous Corporation Inc. (WATT) stock declines during after-market. Here’s to know why?

Energous Corporation Inc. (WATT) stock gained by 7.05% at last close whereas the WATT stock price plunged by 7.82% in the after-hours trading session....

AMAZON Inc. (AMZN) stock fell during after-market. Here’s the update

Amazon Inc. (NASDAQ: AMZN) stock plunged by 0.84% at last close however moving ahead the AMZAN share price also declines by 7.44% in the...

Cocrystal Pharma Inc. (COCP) stock soars during current market. Here’s what you should know

Cocrystal Pharma Inc. (NASDAQ: COCP) stock gains by 17.44% in the current market trading session. Cocrystal Pharma, Inc. is a clinical-stage biotechnology firm focused...

Best Inc. (BEST) stock gains during current market. Here’s the update?

Best Inc. (NASDAQ: BEST) stock rises by 5.45% during the current market. BEST Inc. is a prominent Chinese supplier of comprehensive smart supply chain...

Dolphin Entertainment Inc. (DLPN) stock rises during current market. Let’s find out why?

Dolphin Entertainment Inc. (NASDAQ: DLPN) stock gains by 17.47% to $9.21 today in the current market trading. Dolphin Entertainment is a leading independent entertainment...

General Electric Company Inc. (GE) stock sky-rocketing during pre-market. Here’s what you should know

General Electric Company Inc. (NASDAQ: GE) stock plunged by 2.56% at last close whereas the GE stock price surged massively during pre-market by 704.32%....

Related News

Ocugen Inc. (NASDAQ:OCGN) stock plunged in the premarket trading session; here’s why

At last check Ocugen Inc. (OCGN) stock had plunged by-11.92% to $9.61 in premarket trading session. OCGN stock previously closed at $10.91 losing -12.79%....

KeyBanc reiterates Magna International [MGA] rating to Overweight and sets new price target at $86

KeyBanc maintained its Magna International rating to the equivalent of Overweight but changed the price target to $86.0 from $72, in a research...

Jefferies upgrades Medifast [MED] to Buy rating with a $265 price target

Jefferies took its Medifast rating to the equivalent of Buy from Hold, and the price target to $265.0 from $205, in a research...

American Eagle Outfitters [AEO] Upgraded to Outperform at RBC Capital

RBC Capital took its American Eagle Outfitters rating to the equivalent of Outperform from Sector Perform, and the price target to $30.0 from...

KeyBanc reiterates Nike [NKE] rating to Overweight and sets new price target at $180

KeyBanc maintained its Nike rating to the equivalent of Overweight but changed the price target to $180.0 from $174, in a research note...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam