Zacks Investment Research upgraded shares of Masimo Corporation (NASDAQ:MASI) from a sell rating to a hold rating in a research report released on Tuesday.
According to Zacks, “Over the past one year, Masimo has outperformed the broader industry with respect to price. Going forward, we believe the company's expanding product portfolio is a key catalyst. Wider adoption of its non-invasive patient monitoring technology will help the company gain market traction. Masimo’s SET pulse oximetry business represents considerable growth opportunities in international markets. Moreover, the FDA 510 (k) approval for the Radius 7 wearable and the O3 regional oximetry device are significant positives. On the flipside, unsatisfactory performance by the Rainbow product segment in the first quarter is a concern. Masimo also looks a tad bit expensive at the moment. Furthermore, the company faces fierce competition from OEM distributors and medical devices bigwigs that might mar its top line over the long haul. However Masimo reported solid first-quarter of 2017 results, beating the Zacks Consensus Estimate for both the counts.”
MASI has been the topic of several other research reports. BidaskClub lowered shares of Masimo Corporation from a buy rating to a hold rating in a research note on Wednesday, July 5th. Stifel Nicolaus assumed coverage on shares of Masimo Corporation in a research note on Monday, July 10th. They set a buy rating and a $105.00 price target on the stock. Wedbush restated an outperform rating and set a $112.00 price target on shares of Masimo Corporation in a research note on Monday, May 22nd. Finally, Piper Jaffray Companies lowered shares of Masimo Corporation from an overweight rating to a neutral rating in a research note on Thursday, March 16th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $83.40.
Shares of Masimo Corporation (MASI) traded up 1.36% during trading on Tuesday, reaching $95.60. 610,998 shares of the company’s stock were exchanged. The firm has a market capitalization of $4.89 billion, a P/E ratio of 16.23 and a beta of 0.80. The company has a 50 day moving average of $89.27 and a 200 day moving average of $85.00. Masimo Corporation has a 52-week low of $51.10 and a 52-week high of $104.71.
Masimo Corporation (NASDAQ:MASI) last announced its quarterly earnings results on Wednesday, May 3rd. The medical equipment provider reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.22. Masimo Corporation had a net margin of 44.86% and a return on equity of 24.19%. The company had revenue of $186.30 million for the quarter, compared to analyst estimates of $184.14 million. During the same quarter in the prior year, the business posted $0.53 EPS. Masimo Corporation’s quarterly revenue was up 8.8% on a year-over-year basis. Equities analysts anticipate that Masimo Corporation will post $2.66 earnings per share for the current fiscal year.
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In other Masimo Corporation news, EVP Thomas Samuel Mcclenahan sold 8,000 shares of the stock in a transaction on Friday, April 28th. The shares were sold at an average price of $102.75, for a total value of $822,000.00. Following the completion of the sale, the executive vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $205,500. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sanford Fitch sold 6,000 shares of the stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $91.89, for a total transaction of $551,340.00. Following the completion of the sale, the director now directly owns 89,249 shares of the company’s stock, valued at $8,201,090.61. The disclosure for this sale can be found here. Insiders sold a total of 586,201 shares of company stock worth $58,162,626 over the last quarter. 16.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of MASI. BlackRock Inc. increased its stake in shares of Masimo Corporation by 4,676.3% in the first quarter. BlackRock Inc. now owns 7,364,235 shares of the medical equipment provider’s stock worth $686,789,000 after buying an additional 7,210,051 shares during the period. Acadian Asset Management LLC increased its stake in shares of Masimo Corporation by 45.0% in the first quarter. Acadian Asset Management LLC now owns 1,399,187 shares of the medical equipment provider’s stock worth $130,489,000 after buying an additional 434,389 shares during the period. State Street Corp increased its stake in shares of Masimo Corporation by 42.8% in the first quarter. State Street Corp now owns 1,401,516 shares of the medical equipment provider’s stock worth $130,704,000 after buying an additional 419,767 shares during the period. Norges Bank bought a new stake in shares of Masimo Corporation during the fourth quarter worth $26,532,000. Finally, Vanguard Group Inc. increased its stake in shares of Masimo Corporation by 5.9% in the first quarter. Vanguard Group Inc. now owns 4,617,633 shares of the medical equipment provider’s stock worth $430,641,000 after buying an additional 258,719 shares during the period. 83.59% of the stock is owned by hedge funds and other institutional investors.
About Masimo Corporation
Masimo Corporation is a medical technology company that develops, manufactures and markets a range of non-invasive patient monitoring technologies. The Company’s business is Measure-through Motion and Low Perfusion pulse oximetry monitoring, known as Masimo Signal Extraction Technology (SET) pulse oximetry.
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