Masimo Corporation (MASI) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Masimo Corporation (NASDAQ:MASI) from a sell rating to a hold rating in a report issued on Tuesday, July 11th.

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.”

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus started coverage on shares of Masimo Corporation in a report on Monday, July 10th. They issued a buy rating and a $105.00 price target for the company. BidaskClub cut shares of Masimo Corporation from a buy rating to a hold rating in a report on Wednesday, July 5th. Piper Jaffray Companies cut shares of Masimo Corporation from an overweight rating to a neutral rating in a report on Thursday, March 16th. Finally, Wedbush restated an outperform rating and issued a $112.00 price target on shares of Masimo Corporation in a report on Monday, May 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $94.00.

Shares of Masimo Corporation (NASDAQ MASI) opened at 83.58 on Tuesday. The stock’s 50 day moving average price is $92.27 and its 200-day moving average price is $89.85. The firm has a market capitalization of $4.34 billion, a PE ratio of 13.70 and a beta of 0.80. Masimo Corporation has a 12 month low of $53.78 and a 12 month high of $104.71.

Masimo Corporation (NASDAQ:MASI) last posted its quarterly earnings data on Wednesday, August 2nd. The medical equipment provider reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.12. Masimo Corporation had a net margin of 45.90% and a return on equity of 23.45%. The company had revenue of $192.90 million during the quarter, compared to analysts’ expectations of $189.03 million. During the same period in the prior year, the company posted $0.57 earnings per share. Masimo Corporation’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities analysts anticipate that Masimo Corporation will post $2.80 earnings per share for the current fiscal year.

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In related news, insider Jon Coleman sold 25,000 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $97.50, for a total transaction of $2,437,500.00. Following the transaction, the insider now directly owns 32,201 shares of the company’s stock, valued at $3,139,597.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Anand Sampath sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $92.00, for a total transaction of $3,680,000.00. Following the transaction, the chief operating officer now directly owns 20,000 shares in the company, valued at $1,840,000. The disclosure for this sale can be found here. Insiders have sold 115,000 shares of company stock worth $10,773,180 over the last three months. 16.60% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in MASI. BlackRock Inc. raised its stake in shares of Masimo Corporation by 7.5% in the second quarter. BlackRock Inc. now owns 7,915,230 shares of the medical equipment provider’s stock valued at $721,710,000 after buying an additional 550,995 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Masimo Corporation by 6.9% in the second quarter. Vanguard Group Inc. now owns 4,935,693 shares of the medical equipment provider’s stock valued at $450,036,000 after buying an additional 318,060 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Masimo Corporation by 28.0% in the second quarter. Acadian Asset Management LLC now owns 1,791,597 shares of the medical equipment provider’s stock valued at $163,356,000 after buying an additional 392,410 shares in the last quarter. State Street Corp raised 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 valued at $130,704,000 after buying an additional 419,767 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Masimo Corporation by 27.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,095,353 shares of the medical equipment provider’s stock valued at $99,872,000 after buying an additional 233,412 shares in the last quarter. 84.39% of the stock is currently owned by institutional investors and hedge funds.

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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