Insider Selling: Masimo Corp. (MASI) CEO Sells $5,099,020.42 in Stock
Masimo Corp. (NASDAQ:MASI) CEO Joe E. Kiani sold 84,617 shares of the business’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $60.26, for a total value of $5,099,020.42. Following the completion of the transaction, the chief executive officer now owns 126,450 shares in the company, valued at approximately $7,619,877. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Masimo Corp. (NASDAQ:MASI) opened at 58.44 on Monday. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 30.64 and a beta of 0.70. The firm has a 50-day moving average price of $59.22 and a 200-day moving average price of $52.07. Masimo Corp. has a one year low of $33.03 and a one year high of $60.81.
Masimo Corp. (NASDAQ:MASI) last posted 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 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 last year, the business posted $0.36 EPS. The company’s revenue was up 10.9% on a year-over-year basis. Analysts anticipate that Masimo Corp. will post $2.02 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of MASI. MSI Financial Services Inc raised its position in Masimo Corp. by 10.1% in the third quarter. MSI Financial Services Inc now owns 5,437 shares of the company’s stock worth $323,000 after buying an additional 500 shares in the last quarter. First National Bank of Omaha raised its position in Masimo Corp. by 12.2% in the third quarter. First National Bank of Omaha now owns 15,175 shares of the company’s stock worth $903,000 after buying an additional 1,650 shares in the last quarter. Eagle Asset Management Inc. raised its position in Masimo Corp. by 1.9% in the third quarter. Eagle Asset Management Inc. now owns 42,592 shares of the company’s stock worth $2,533,000 after buying an additional 775 shares in the last quarter. Algert Global LLC raised its position in Masimo Corp. by 58.1% in the third quarter. Algert Global LLC now owns 53,889 shares of the company’s stock worth $3,206,000 after buying an additional 19,813 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new position in Masimo Corp. during the second quarter worth approximately $286,000. 79.86% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on MASI shares. Zacks Investment Research cut Masimo Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 4th. BTIG Research reaffirmed a “hold” rating on shares of Masimo Corp. in a report on Friday, August 5th. Wedbush reaffirmed an “outperform” rating and issued a $63.00 price objective (up previously from $60.00) on shares of Masimo Corp. in a report on Thursday, August 4th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $55.00 price objective (up previously from $52.00) on shares of Masimo Corp. in a report on Friday, August 5th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Masimo Corp. currently has a consensus rating of “Buy” and an average price target of $52.60.
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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