Masimo Corp. (MASI) Reaches New 1-Year High at $59.72
Masimo Corp. (NASDAQ:MASI) shares reached a new 52-week high on Monday . The stock traded as high as $59.72 and last traded at $59.57, with a volume of 215,142 shares traded. The stock had previously closed at $58.97.
Several research analysts have recently weighed in on MASI shares. Wedbush reaffirmed an “outperform” rating and issued a $63.00 price target (up previously from $60.00) on shares of Masimo Corp. in a report on Thursday, August 4th. Zacks Investment Research raised Masimo Corp. from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Friday, May 6th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $55.00 target price (up previously from $52.00) on shares of Masimo Corp. in a research note on Friday, August 5th. BTIG Research reissued a “hold” rating on shares of Masimo Corp. in a research note on Friday, August 5th. Finally, Roth Capital increased their target price on Masimo Corp. from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, May 5th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $52.60.
The stock’s 50 day moving average is $55.26 and its 200-day moving average is $47.34. The firm has a market capitalization of $2.94 billion and a price-to-earnings ratio of 31.28.
Masimo Corp. (NASDAQ:MASI) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.16. During the same period last year, the firm earned $0.36 earnings per share. The company earned $172.64 million during the quarter, compared to analysts’ expectations of $166.02 million. Masimo Corp.’s quarterly revenue was up 10.9% on a year-over-year basis. Equities research analysts anticipate that Masimo Corp. will post $2.02 EPS for the current year.
In other Masimo Corp. news, CFO Raad Mark De sold 40,000 shares of the business’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $49.43, for a total value of $1,977,200.00. Following the completion of the sale, the chief financial officer now directly owns 42,660 shares of the company’s stock, valued at approximately $2,108,683.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joe E. Kiani sold 234,952 shares of the business’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $50.09, for a total transaction of $11,768,745.68. Following the completion of the sale, the chief executive officer now directly owns 313,797 shares of the company’s stock, valued at $15,718,091.73. The disclosure for this sale can be found here.
Other large investors recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in 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. Trexquant Investment LP acquired a new stake in shares of Masimo Corp. during the fourth quarter valued at $1,009,000. State of Tennessee Treasury Department boosted its stake in shares of Masimo Corp. by 41.6% in the fourth quarter. State of Tennessee Treasury Department now owns 155,800 shares of the company’s stock valued at $6,467,000 after buying an additional 45,800 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake 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 last quarter.
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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