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Merit Medical Systems, Inc. (MMSI) gets rating Initiated from CL King

Merit Medical Systems, Inc.’s recent filing unveils that 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 $0.89 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 $1.43 million.

CL King initiated its Merit Medical Systems, Inc. [MMSI] rating to a Buy in a research note published on April 11, 2024; the price target was $88. A number of analysts have revised their coverage, including BofA Securities’s analysts, who began to cover the stock in early February with a ‘”a Neutral”‘ rating. Canaccord Genuity also remained covering MMSI and has increased its forecast on December 21, 2023 with a “Buy” recommendation from previously “Hold” rating. Canaccord Genuity revised its rating on December 20, 2022. It rated MMSI as “a Hold” which previously was an “a Buy”.

Price Performance Review of MMSI

On Tuesday, Merit Medical Systems, Inc. [NASDAQ:MMSI] saw its stock fall -1.32% to $74.10. Over the last five days, the stock has lost -0.11%. Merit Medical Systems, Inc. shares have fallen nearly -2.45% since the year began. Nevertheless, the stocks have fallen -8.84% 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 04/19/24. SMA at 50 days reached $74.40, while 200 days put it at $72.53. A total of 0.59 million shares were traded, compared to the trading of 0.26 million shares in the previous session.

Levels Of Support And Resistance For MMSI Stock

The 24-hour chart illustrates a support level at 73.47, which if violated will result in even more drops to 72.85. On the upside, there is a resistance level at 74.92. A further resistance level may holdings at 75.75. The Relative Strength Index (RSI) on the 14-day chart is 52.67, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.23, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 24.36%. Stochastics %K at 81.42% indicates the stock is a selling.

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