In a filing, Merit Medical Systems, Inc. revealed its CFO AND TREASURER Parra Raul Jr. unloaded Company’s shares for reported $0.48 million on Mar 12 ’24. In the deal valued at $73.95 per share,6,480 shares were sold. As a result of this transaction, Parra Raul Jr. now holds 12,007 shares worth roughly $0.87 million.
Then, Wright Joseph sold 25,000 shares, generating $1,891,925 in total proceeds. Upon selling the shares at $75.68, the CHIEF COMMERCIAL OFFICER now owns 42,223 shares.
Before that, Gunderson Thomas James sold 18,157 shares. Merit Medical Systems, Inc. shares valued at $1,380,513 were divested by the Director at a price of $76.03 per share. As a result of the transaction, Gunderson Thomas James now holds 19,257 shares, worth roughly $1.4 million.
BofA Securities initiated its Merit Medical Systems, Inc. [MMSI] rating to a Neutral in a research note published on February 07, 2024; the price target was $87. A number of analysts have revised their coverage, including Canaccord Genuity’s analysts, who increased its forecast for the stock in late December from “a Hold” to “a Buy”. Canaccord Genuity also remained covering MMSI and has decreased its forecast on December 20, 2022 with a “Hold” recommendation from previously “Buy” rating. Needham revised its rating on January 05, 2021. It rated MMSI as “a Buy” which previously was an “a Hold”.
Price Performance Review of MMSI
On Tuesday, Merit Medical Systems, Inc. [NASDAQ:MMSI] saw its stock fall -0.78% to $72.51. Over the last five days, the stock has gained 0.30%. Merit Medical Systems, Inc. shares have fallen nearly -4.54% since the year began. Nevertheless, the stocks have fallen -3.22% over the past one year. While a 52-week high of $85.62 was reached on 01/24/24, a 52-week low of $62.58 was recorded on 03/15/24. SMA at 50 days reached $76.25, while 200 days put it at $73.23. A total of 0.22 million shares were traded, compared to the trading of 0.51 million shares in the previous session.
Levels Of Support And Resistance For MMSI Stock
The 24-hour chart illustrates a support level at 71.81, which if violated will result in even more drops to 71.10. On the upside, there is a resistance level at 73.37. A further resistance level may holdings at 74.22. The Relative Strength Index (RSI) on the 14-day chart is 42.32, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.59, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 79.59%. Stochastics %K at 26.14% indicates the stock is a holding.
How much short interest is there in Merit Medical Systems, Inc.?
A steep rise in short interest was recorded in Merit Medical Systems, Inc. stocks on Mar 28, 2024, dropping by -0.39 million shares to a total of 1.98 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 2.37 million shares. There was a decline of -19.7%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 5.00% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.21.
