NASDAQ:MMSI', 'Merit Medical Systems Inc.', 'http://weeklyregister.com/weekly-register-logo.png');

Could Merit Medical Systems, Inc. (MMSI) Increase Even More? The Stock Formed Bullish Double Top Chart Pattern

December 7, 2017 - By Ellis Scott

Investors sentiment is 1.49 in Q2 2017. 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.
Wells Fargo Mn holds 0% of its portfolio in Merit Medical Systems, Inc. (NASDAQ:MMSI) for 112,183 shares. Commercial Bank Of America De holds 323,450 shares or 0% of its portfolio. Ftb Advsrs Incorporated stated it has 0% of its portfolio in Merit Medical Systems, Inc. (NASDAQ:MMSI). 2,315 were accumulated by Creative Planning. Dimensional Fund Advisors Lp reported 2.69 million shares stake. 304 were reported by Fny Managed Accounts Limited Liability Corp. California State Teachers Retirement has invested 0.01% in Merit Medical Systems, Inc. (NASDAQ:MMSI). Prudential holds 0.01% of its portfolio in Merit Medical Systems, Inc. (NASDAQ:MMSI) for 98,682 shares. Ameritas Invest Partners Incorporated holds 0.01% or 4,272 shares in its portfolio. Driehaus Capital Mngmt Lc invested 0.15% in Merit Medical Systems, Inc. (NASDAQ:MMSI). 36,336 are owned by Nationwide Fund Advisors. 29,900 were accumulated by Spark Inv Limited Liability. Architects invested in 0% or 18 shares. Fiera stated it has 261,038 shares. The Georgia-based Suntrust Banks has invested 0% in Merit Medical Systems, Inc. (NASDAQ:MMSI).

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 $16.06M 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 firm has “Buy” rating by Wells Fargo given on Thursday, November 30. Bank of America initiated Merit Medical Systems, Inc. (NASDAQ:MMSI) on Thursday, July 20 with “Buy” rating. SunTrust maintained Merit Medical Systems, Inc. (NASDAQ:MMSI) rating on Thursday, November 16. SunTrust has “Buy” rating and $47.0 target. Canaccord Genuity maintained Merit Medical Systems, Inc. (NASDAQ:MMSI) on Sunday, October 8 with “Buy” rating. The company was maintained on Monday, July 10 by Canaccord Genuity. Canaccord Genuity maintained it with “Buy” rating and $4500 target in Thursday, July 27 report. On Thursday, July 27 the stock rating was maintained by Craig Hallum with “Buy”. The stock has “Buy” rating by Canaccord Genuity on Thursday, October 26. Barrington Research downgraded the stock to “Mkt Perform” rating in Friday, October 23 report. On Tuesday, July 19 the stock rating was initiated by Canaccord Genuity with “Buy”.

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 – Becton And Bard Deal Looks Nice” published on November 17, 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 Systems’ (MMSI) CEO Fred Lampropoulos on Q2 2017 Results …” with publication date: July 27, 2017.

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