Merit Medical Systems (MMSI) : The traders have covered their outstanding shorts in Merit Medical Systems (MMSI) to the tune of -234,092 shares, a change of -12.2%. As on Jul 29, 2016, the outstanding shorts on the stock were 1,925,004 shares, however, by August 15, 2016, the shorts had reduced to 1,690,912 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 4% of the free float of the stock. It takes 8 days to cover the outstanding short positions. The stock has an average daily volume of 218,183 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Merit Medical Systems (NASDAQ:MMSI): The stock opened at $23.73 on Wednesday but the bulls could not build on the opening and the stock topped out at $23.96 for the day. The stock traded down to $23.34 during the day, due to lack of any buying support eventually closed down at $23.40 with a loss of -1.52% for the day. The stock had closed at $23.76 on the previous day. The total traded volume was 231,508 shares.
In a related news,The director of Merit Medical Systems Inc, Stillabower Michael E sold 25,000 shares at $24.29 on August 15, 2016. The Insider selling transaction had a total value worth of $607,250. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Merit Medical Systems, Inc. (Merit) is a designer, developer, manufacturer and marketer of medical devices used in an array of interventional and diagnostic procedures across the world. The Company operates in the diagnostic and interventional cardiology, interventional radiology, interventional gastroenterology, interventional pulmonology, thoracic surgery, interventional nephrology, vascular surgery, oncology, electrophysiology, cardiac rhythm management and pain management markets. It operates in segments: cardiovascular and endoscopy. Its cardiovascular segment comprises cardiology and radiology devices, which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases, and includes the embolotherapeutic products. Its endoscopy segment comprises gastroenterology and pulmonology devices, which assist in the palliative treatment of expanding esophageal, tracheobronchial and biliary strictures caused by malignant tumors.