Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Merit Medical Systems, Inc shares valued at $1,062,500 were sold by Millner F. Ann on Jun 28 ’24. At $85.00 per share, Millner F. Ann sold 12,500 shares. The insider’s holdings dropped to 32,391 shares worth approximately $3.2 million following the completion of this transaction.
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Also, Peterson Neil sold 7,500 shares, netting a total of over 613,845 in proceeds. Following the sale of shares at $81.85 each, the insider now holds 14,819 shares.
Before that, Parra Raul Jr. had sold 6,480 shares from its account. In a trade valued at $479,182, the CFO AND TREASURER traded Merit Medical Systems, Inc shares for $73.95 each. Upon closing the transaction, the insider’s holdings decreased to 6,480 shares, worth approximately $1.18 million.
As published in their initiating research note from Robert W. Baird on June 28, 2024, Merit Medical Systems, Inc [MMSI] has been an Outperform and the price target has been revised to $96. Analysts at CL King started covering the stock with ‘”a Buy”‘ outlook in a report released in mid April. As of February 07, 2024, BofA Securities has initiated its “Neutral” rating for MMSI. Earlier on December 21, 2023, Canaccord Genuity upgraded its rating. Their new recommendation was “a Buy” for MMSI stock which previously was a “a Hold”.
Analyzing MMSI Stock Performance
During the last five days, there has been a surge of approximately 2.91%. Over the course of the year, Merit Medical Systems, Inc shares have jumped approximately 29.88%. Shares of the company reached a 52-week high of $101.60 on 09/23/24 and a 52-week low of $70.70 on 04/19/24. A 50-day SMA is recorded $96.40, while a 200-day SMA reached $84.35. Nevertheless, trading volume fell to 0.92 million shares from 0.44 million shares the previous day.
Support And Resistance Levels for Merit Medical Systems, Inc (MMSI)
According to the 24-hour chart, there is a support level at 94.71, which, if violated, would cause prices to drop to 90.77. In the upper region, resistance lies at 101.51. The next price resistance is at 104.36. RSI (Relative Strength Index) is 61.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.68, which suggests the price will decrease in the coming days. Percent R is at 25.75%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
