Merit Medical Systems saw a welcome improvement to its Relative Strength (RS) Rating on Friday, rising from 79 to 83.
IBD's proprietary RS Rating identifies technical performance by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history shows that the best-performing stocks tend to have an RS Rating of over 80 as they begin their biggest climbs.
Looking For The Best Stocks To Buy And Watch? Start Here
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to form a chart pattern and break out.
Earnings grew 21% last quarter, up from 18% in the prior report. Revenue also increased, from 6% to 8%.
The company earns the No. 10 rank among its peers in the Medical-Products industry group. Boston Scientific, Globus Medical and LeMaitre Vascular are among the top 5 highly rated stocks within the group.
RELATED:
IBD Stock Rating Upgrades: Rising Relative Strength
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
