Masimo Corp. (MASI) Sees Unusually-High Trading Volume
Masimo Corp. (NASDAQ:MASI) saw unusually-high trading volume on Friday . Approximately 759,692 shares changed hands during trading, an increase of 34% from the previous session’s volume of 568,631 shares.The stock last traded at $52.33 and had previously closed at $51.99.
MASI has been the subject of several research reports. Raymond James Financial Inc. downgraded shares of Masimo Corp. from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, June 1st. Wedbush boosted their target price on shares of Masimo Corp. from $51.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, May 5th. Zacks Investment Research raised shares of Masimo Corp. from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Friday, May 6th. Roth Capital boosted their target price on shares of Masimo Corp. from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, May 5th. Finally, Piper Jaffray Cos. raised shares of Masimo Corp. from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $43.00 to $52.00 in a research report on Thursday, May 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $50.80.
The company has a market cap of $2.56 billion and a PE ratio of 30.84. The stock’s 50 day moving average is $50.95 and its 200-day moving average is $42.78.
Masimo Corp. (NASDAQ:MASI) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. The company earned $171.20 million during the quarter, compared to analysts’ expectations of $165.25 million. Masimo Corp.’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. Equities analysts predict that Masimo Corp. will post $1.83 EPS for the current fiscal year.
In related news, CAO Ramshorst David J. Van sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $52.50, for a total value of $262,500.00. Following the transaction, the chief accounting officer now owns 3,000 shares in the company, valued at $157,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rick Fishel sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $49.85, for a total value of $1,246,250.00. Following the completion of the transaction, the insider now owns 52,022 shares in the company, valued at approximately $2,593,296.70. The disclosure for this sale can be found here.
A number of institutional investors recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of Masimo Corp. by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,351,212 shares of the company’s stock valued at $56,090,000 after buying an additional 76,849 shares during the period. Matarin Capital Management LLC bought a new position in shares of Masimo Corp. during the fourth quarter valued at approximately $9,755,000. Trexquant Investment LP bought a new position in shares of Masimo Corp. during the fourth quarter valued at approximately $1,009,000. Globeflex Capital L P increased its position in shares of Masimo Corp. by 17.5% in the fourth quarter. Globeflex Capital L P now owns 34,900 shares of the company’s stock valued at $1,449,000 after buying an additional 5,200 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Masimo Corp. by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 307,924 shares of the company’s stock valued at $12,782,000 after buying an additional 8,534 shares during the period.
Masimo Corporation is a medical technology company that develops, manufactures and markets non-invasive patient monitoring products. The Company’s business is measure-through-motion and low-perfusion pulse oximetry monitoring, known as Masimo Signal Extraction Technology (SET) pulse oximetry. Its product offerings include monitoring blood constituents with an optical signature, optical organ oximetry monitoring, electrical brain function monitoring, acoustic respiration monitoring and exhaled gas monitoring.
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