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Shares of Merit Medical Fall to a New 52-Week Low

By Nick Russo

Merit Medical (NASDAQ:MMSI) traded today at a new 52-week low of $26.62. Approximately 1.2 million shares have changed hands today, as compared to an average 30-day volume of 999,000 shares.

Potential upside of 92.0% exists for Merit Medical, based on a current level of $26.62 and analysts' average consensus price target of $51.10. The stock should find initial resistance at its 50-day moving average (MA) of $44.59 and further resistance at its 200-day MA of $53.93.

In the past 52 weeks, Merit Medical share prices have been bracketed by a current low of $26.62 and a high of $66.34 and are now at $26.62. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 4.7%.

Merit Medical Systems, Inc. manufactures and markets products used in diagnostic and interventional cardiology and radiology procedures. The Company's primary products include inflation devices, guide wires, thrombolytic catheters and fluid dispensing systems, and angiography accessories, among others. Merit's products are sold worldwide.

SmarTrend recommended that its subscribers protect gains by selling shares of Merit Medical on July 15th, 2019 by issuing a Downtrend alert when the shares were trading at $56.85. Since that call, shares of Merit Medical have fallen 45.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows merit medical

Ticker(s): MMSI