Merit Medical Systems, Inc. (NASDAQ:MMSI) – Technical Analysis
Highlighting: Merit Medical Systems, Inc. (NASDAQ:MMSI)
Of the 1652 stocks analyzed on Thursday, 1589 advanced, 58 declined and the remaining 5 were unchanged on the day. Gains across the stocks averaged 3.16% on volumes 15% lower than the day previous. Returns across the capitalizations averaged 3.43%, 3.27% and 3.35% for large-caps, mid-caps and small-caps, respectively. An instant shift was noticed today in the percentage of stocks above the 50-day and 200-day moving average, now at 19% and 54%, respectively. This is an almost 10% increase for each technical indicator that saw crossovers on Thursday amongst a large number of stocks.
Analysis has revealed that with a buy date of May 10 and a sell date of January 5, investors have benefited from a total return of 3176.98% over the last 10 years.This scenario has shown positive results in 8 of those periods.
Conversely, the best return over the maximum number of positive periods reveals a buy date of May 5 and a sell date of September 20, producing a total return over the same 10-year range of 2259.73% with positive results in 10 of those periods.
The buy and hold return for the past 10 years was 637.16%.
Comments:
Merit Medical Systems designs, develops, manufactures and markets single-use medical products for interventional and diagnostic procedures.The medical devices industry commonly sees seasonal strength through to September, and this stock benefits nicely from this seasonal rally.Gains between now and September average 17%, on average, for this equity.
Over the last few months the stock has found support at $14 with resistance reaching up to $20.The stock came under significant pressure following Q4 earnings in February when a 3 cent per share miss from the 21 cent per share expectation caused the stock to gap lower by as much as 17%.Lowered earnings guidance also contributed to the stock’s deterioration.Since that time the stock has found stability, despite a further miss during April’s Q1 reporting by the same 3 cent per share margin.The stock remained fairly steady following this point, only coming under pressure in the month of May due to the overall market decline. Expectation for the next earnings report expected on July 28 is 21 cents per share.
Fundamental targets place the value of this equity at $17.00, or almost 10% above current levels.
News Headlines for Merit Medical Systems, Inc. (MMSI)
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Disclosure: Mr. Vialoux does not own securities mentioned in this report.
Disclaimer: Comments and opinions offered in this report at EquityClock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities.
Data offered in this report is believed to be accurate, but is not guaranteed.
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