Insider Selling: Masimo Corp. (MASI) EVP Sells $590,000.00 in Stock
Masimo Corp. (NASDAQ:MASI) EVP Thomas Samuel Mcclenahan sold 10,000 shares of the business’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $59.00, for a total transaction of $590,000.00. Following the sale, the executive vice president now directly owns 10,000 shares in the company, valued at $590,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Masimo Corp. (NASDAQ:MASI) opened at 59.97 on Monday. Masimo Corp. has a 52-week low of $33.03 and a 52-week high of $60.52. The firm’s 50-day moving average is $59.11 and its 200 day moving average is $51.48. The firm has a market capitalization of $2.96 billion, a P/E ratio of 31.45 and a beta of 0.70.
Masimo Corp. (NASDAQ:MASI) last released its earnings results 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 net margin of 15.40% and a return on equity of 29.07%. The firm earned $172.64 million during the quarter, compared to analyst estimates of $166.02 million. During the same quarter in the previous year, the business earned $0.36 EPS. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. Equities analysts anticipate that Masimo Corp. will post $2.02 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in MASI. First Republic Investment Management Inc. acquired a new stake in Masimo Corp. during the first quarter worth approximately $12,638,000. Henderson Group PLC raised its stake in Masimo Corp. by 57.6% in the second quarter. Henderson Group PLC now owns 725,066 shares of the company’s stock worth $38,077,000 after buying an additional 265,011 shares in the last quarter. BlackRock Advisors LLC raised its stake in Masimo Corp. by 49.7% in the second quarter. BlackRock Advisors LLC now owns 741,931 shares of the company’s stock worth $38,962,000 after buying an additional 246,358 shares in the last quarter. Numeric Investors LLC acquired a new stake in Masimo Corp. during the second quarter worth approximately $12,366,000. Finally, Columbus Circle Investors acquired a new stake in Masimo Corp. during the second quarter worth approximately $9,000,000. 79.88% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on MASI shares. Zacks Investment Research downgraded shares of Masimo Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Wedbush reaffirmed an “outperform” rating and issued a $63.00 price target (up from $60.00) on shares of Masimo Corp. in a research note on Thursday, August 4th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $55.00 price target (up from $52.00) on shares of Masimo Corp. in a research note on Friday, August 5th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Masimo Corp. in a research note on Friday, August 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Masimo Corp. presently has an average rating of “Buy” and an average price target of $52.60.
About Masimo Corp.
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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