Shares of Masimo Corp. (NASDAQ:MASI) hit a new 52-week high during trading on Wednesday . The company traded as high as $53.97 and last traded at $53.81, with a volume of 236,112 shares traded. The stock had previously closed at $52.91.

MASI has been the subject of a number of analyst reports. Zacks Investment Research upgraded Masimo Corp. from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Friday, May 6th. Roth Capital increased their target price on Masimo Corp. from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, May 5th. Raymond James Financial Inc. cut Masimo Corp. from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, June 1st. Wedbush increased their target price on Masimo Corp. from $51.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, May 5th. Finally, Piper Jaffray Cos. upgraded Masimo Corp. from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $43.00 to $52.00 in a research report on Thursday, May 5th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $50.80.

The firm’s 50-day moving average is $51.61 and its 200-day moving average is $43.34. The stock has a market capitalization of $2.60 billion and a price-to-earnings ratio of 31.29.

Masimo Corp. (NASDAQ:MASI) last released its quarterly earnings data on Wednesday, May 4th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. The business earned $171.20 million during the quarter, compared to analyst estimates of $165.25 million. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, equities analysts expect that Masimo Corp. will post $1.83 earnings per share for the current fiscal year.

In related news, CAO Ramshorst David J. Van sold 5,000 shares of the company’s 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 directly owns 3,000 shares in the company, valued at $157,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon Coleman sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 27th. The shares were sold at an average price of $44.00, for a total value of $176,000.00. Following the completion of the transaction, the insider now owns 4,459 shares in the company, valued at $196,196. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its position in Masimo Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 81,062 shares of the company’s stock worth $3,365,000 after buying an additional 1,288 shares during the period. New York State Common Retirement Fund boosted its position in Masimo Corp. by 2.0% in the fourth quarter. New York State Common Retirement Fund now owns 65,782 shares of the company’s stock worth $2,731,000 after buying an additional 1,300 shares during the period. Rhumbline Advisers boosted its position in Masimo Corp. by 7.6% in the fourth quarter. Rhumbline Advisers now owns 54,693 shares of the company’s stock worth $2,270,000 after buying an additional 3,845 shares during the period. Globeflex Capital L P boosted its position in Masimo Corp. by 17.5% in the fourth quarter. Globeflex Capital L P now owns 34,900 shares of the company’s stock worth $1,449,000 after buying an additional 5,200 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Masimo Corp. by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 307,924 shares of the company’s stock worth $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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