Masimo Corp. (MASI) Rating Lowered to Hold at Zacks Investment Research
Masimo Corp. (NASDAQ:MASI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Masimo reported strong second quarter 2016 results. We believe the company's expanding product portfolio is the key catalyst. Wider adoption of 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 recent FDA 510 (k) approvals for the Radius 7 wearable and the O3 regional oximetry device is significantly positive. Further, the recent launch of Pronto Pulse CO-Oximeter, its next-generation SpHb Spot Check technology, for markets outside the U.S. and next-generation SedLine Brain Function monitoring technology are key catalysts in the long haul.”
A number of other equities research analysts have also recently commented on MASI. Wedbush reaffirmed an “outperform” rating and set a $63.00 price objective (up from $60.00) on shares of Masimo Corp. in a research note on Thursday, August 4th. BTIG Research reissued a “hold” rating on shares of Masimo Corp. in a research note on Friday, August 5th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $55.00 target price (up from $52.00) on shares of Masimo Corp. in a research note on Friday, August 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $52.60.
Shares of Masimo Corp. (NASDAQ:MASI) opened at 59.67 on Tuesday. Masimo Corp. has a 1-year low of $33.03 and a 1-year high of $60.52. The stock’s 50 day moving average price is $59.01 and its 200-day moving average price is $51.27. The stock has a market capitalization of $2.94 billion, a P/E ratio of 31.29 and a beta of 0.70.
Masimo Corp. (NASDAQ:MASI) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.16. Masimo Corp. had a return on equity of 29.07% and a net margin of 15.40%. The business earned $172.64 million during the quarter, compared to analysts’ expectations of $166.02 million. During the same period in the previous year, the firm earned $0.36 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Equities research analysts anticipate that Masimo Corp. will post $2.02 EPS for the current fiscal year.
In related news, Director Sanford Fitch sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $53.48, for a total transaction of $160,440.00. Following the sale, the director now owns 58,000 shares in the company, valued at $3,101,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joe E. Kiani sold 2,200 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $60.00, for a total value of $132,000.00. Following the sale, the chief executive officer now owns 121,441 shares in the company, valued at approximately $7,286,460. The disclosure for this sale can be found here. Corporate insiders own 16.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Masimo Corp. by 0.7% in the first quarter. Geode Capital Management LLC now owns 426,362 shares of the company’s stock valued at $17,838,000 after buying an additional 3,002 shares during the last quarter. UBS Group AG raised its stake in Masimo Corp. by 3.6% in the first quarter. UBS Group AG now owns 19,177 shares of the company’s stock valued at $802,000 after buying an additional 663 shares during the last quarter. State Street Corp raised its stake in Masimo Corp. by 3.1% in the first quarter. State Street Corp now owns 890,937 shares of the company’s stock valued at $37,271,000 after buying an additional 26,485 shares during the last quarter. Zebra Capital Management LLC raised its stake in Masimo Corp. by 20.9% in the first quarter. Zebra Capital Management LLC now owns 21,916 shares of the company’s stock valued at $917,000 after buying an additional 3,783 shares during the last quarter. Finally, Spark Investment Management LLC bought a new stake in Masimo Corp. during the first quarter valued at about $2,092,000. Institutional investors and hedge funds own 79.88% of the company’s stock.
Masimo Corp. Company Profile
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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